A few observations,- the financials are generally higher with the exception of GS which is down again over $3- even after the recent crushing- and downgrades- usually it bounced back- but now not so much.

Strong sectors- homies, retail, telecom, banks, defense and drugs while ags, metals, oils, gaming and real estate the laggards.

Market internals heading lower since the early morning push- and probably giving hints that we close lower from these levels.

The XLE- as oil continues to go lower the etf seems to have bottomed when oil was much higher on August 5- not sure its meaningful but it is interesting.

Seems like 1300 on SPX remains big resistance and 1315 area above that- but if Oil goes to double digits next week - that will all change- but still looking for the retrace to the 1250 area - maybe next week.


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