THE CHOP

The bulls can't seem to get this market higher but then again the bears can't seem to get it lower either so maybe every is waiting for what the FED guys have to say tomorrow.

Anyhow, DJIA 60, NAZ -33 and SPX -11.

Sector strength found in metals, oil service and shipping while financials, semis and telecom lag.

Market internals pretty constant at a bit more than 1,000 net losers on both the NYSE and the NAZ.

VIX higher by 5% at 57+;

Very weak volume with about twice as many to the downside.

A bit dull today but some bloggers are actually discussing the RSI (2) trading system- I like it for telling me how overbought or over sold the market may be - not a pure trading system.

The system says over sold at /near 25 on most major indexes- and looking for choppy trade for the balance of the afternoon.