THE CHOP

The choppy trade continues although I suspect the bulls may have won the day when the closing bell rings.

Strong sectors- small caps, ags, trannies, metals and shipping while real estate, utils, defense and banks lag.

Market internals - flattish;

VIX- down a bit at 50;

Up and down volume about even and small cap growth the big winner on the day.

The SPX 905 area looks to be support for now as its also the SMA 50- and for now the trade continues to be "buy the dip."