MORNING MARKETS

Pretty ugly this morning as Pull ups are non existant and the markets just drift lower.

Just about all sectors in the red with utils, internets, drugs, biotech and semis acting the best while shipping, oil service, metals and brokers are the worst.

NYSE- 2340 net losers;

NAZ- 1640 net losers;

NDX- 2 GREEN;

OEX- 2 GREEN;

VIX- higher by 14% and near the 63 area;

Down volume about 15X the up;

Still looking to short rallies but none are appearing and it will probably be one of those days where we close near the lows.

RSI (2) levels- near 30 on most major indexes and the suspicion is they go lower - much lower.