SPX/DJIA both closing at/near the lows while the NAZ/NDX opened way down - ramped higher and closed in the middle of the days range. DJIA -156, SPX -20 and NAZ -8- the NDX was much better at +2.

Strongest sectors included junk, biotech, internets, semis and telecom while fins, energy, brokers, real estate and materials lagged.

Market internals crummy in all locations except for the NDX which a little less than flat-

SPX- 1 up for every 4 down;

NYSE- 875 green and 2210 red;

VIX - up a tad at 32.9;

RSI (2) levels as follows:

SPX 38;

NAZ 42

NDX 36

RUT 45


Markets started to head lower when the Whitney interview hit the airwaves - yes she is not bullish and thinks the fins are very very expensive at these levels.

I added to my DBA position today and am looking to get long more DIG/OIH hopefully tomorrow as we may see some rotation out of financials and tech and into energy- especially if prices remain above $55 on crude.

Here are some commentary from Saut and Cooper.


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