THE FED GANG

Markets moving down and accelerating the move lower on the FED minutes - shocking - the economy not so hot but inflation now an issue for the FED gang and a tightening the next move- I doubt it- how do they raise rates under these crummy conditions?

Anyhow, so much for the choppy market - and now the financials cracking again- as LEH XLF JPM GS all at/near the lows of the day.

Market internals still near the flat line but falling fast;

VIX- still lower on the day at 20.9 with RSI (2) levels at near the 20 level - also note the SPX /DJIA both down about 14% for the year while the RUT is lower by 6%-

Crude up over a buck while the dollar is higher by .7%;