THE TREND

Markets seem stuck near the 787 SPX level and I am waiting for a little move higher to short - preferably near the SMA 50 over 790 with a stop a few points above the fiddy. I expect the markets to close at/near the lows.

Funny how just a few days ago folks were waiting for the opportunity to buy the dip- now most I hear from want to sell the rally, any rally.

Strong sectors- everything red with gold, drugs, internets and utils the best of the bad and shipping, banks, gaming, homies and fins doing the worst.

NYSE- 2500 net losers;

NAZ- 1700 net losers;

NDX/OEX- 5 GREEN on each;

VIX- higher by 11% at 45.75;

TRIN- 2.11 with down volume about 25x the up;

Waiting for a move back to the 50 SMA and will look to short there, also looking at SRS SDS and DIG.

This seems to be one of the days where old reliable is the trade of the day, close at the lows- just hold it.

Also like the SMA 80 which came via Schaeffer's.