THE OPEN

Markets are lower but a short term bottom may be at hand near the SPX SMA 50 as GS has flipped to green along with DIG and the BKX index.

NYSE- 640 net losers;

NAZ- 300 net losers;

NDX- 20 GREEN;

OEX- 25 GREEN;

VIX- up by 2% near the 44+ area;

Down volume less than 2X the up;

Looking for a bounce as the RSI (2) has already sunk to the 15 level on the SPX- the RUT also hanging in better than the large caps - will look to buy UWM on the next dip -