NOON SWOON

Markets have moved out of chop mode and into downward trend- The SPX and the NAZ both down 8 points.

Sector strength - bonds, semis, ags and energy while reits, banks, homies and shipping lag.

NYSE- 680 net losers;

NAZ- 230 net losers;

NDX - 30 GREEN;

OEX- 30 GREEN;

VIX- up almost 2% at 42;

TRIN- 1.25- down volume 2x the up;

Not looking to do much this afternoon as I suspect there wont be much more on the downside or the up.