THE OPEN

Markets are weak yet again but a bounce from SPX 1200 may be in the front view.

Market internal about as bad as they get withe NYSE at 2500 net losers and NAZ at 1450 net red;

NDX/OEX with 35 green stocks combined;

VIX up 8% near the 31 level;

Down volume about 8X the up;

GOLD- near the 990 level while crude is lower at 144.665;

Lots of fear in the markets and another short term low may be at hand near the SPX 1200 level and VIX 31-

In addition - the 50% retracement areas from the 2002 lows is getting close SPX 1170 and DJIA 10,700- keep those lines on the charts;