VOLATILITY

Markets look to be heading higher but I am dubious of any sustainable rally as the brokers and banks continue to trade ugly and the internals refuse to confirm any upward movement as they continue to be skewed to the downside-

My strategy for the day- fade the rallies and buy the inverse ETF's;

Strong sectors- oils, metals, gaming and homies while brokers and financials lag;

NYSE- 850 net losers;

NAZ- 830 net losers;

NDX/OEX 25 GREEN on each;

VIX- lower by 1% at/near 20.25;

Down volume 1.5X the up;

Crude- up $5+ at $121;

Gold Up $22 at $837;

Looking for volatility but a lower close and fading the blips - banks/brokers probably going lower and SKF looks like a nice play;