FADE DA FADE

Markets open lower and the trade was fade the faders who bought the gap lower- currently at the lows with the SPX -18 and the NAZ -24. RUT/MID acting the worst - with small caps down 2.8% and Mids down 3% +.

Strong sectors - gold, utils, internets, drugs and tech acting best while oils, shipping, banks, trannies and gaming lag.

NYSE- 2240 net losers;

NAZ- 1400 net losers;

NDX 4 GREEN;

OEX- 8 GREEN;

VIX - higher by 6% at 49.2;

TRIN- 1.4 with down volume about 12X the up;

Gold down $3 as Gartman expects lower gold as folks sell their gold to pay down their margin loans - eh;

Crude crushed at $41 leading energy shares lower;

How now- well sold my TWM at 98+ and will look for better levels to reload from the short side - tech not the place to short as fins and small caps act worst.

RSI (2) levels - 5 on most major indexes.