OPENING DIP

Markets have sold off a bit after the open and are now trading -2 on SPX -9 on NAZ and -37 on the DJIA.

Strong sectors- real estate, financials, telecom and drugs while retail, semis, tech and energy lags.

NYSE- 500 net losers;

NAZ- 400 net losers;

SPX- 162 GREEN;

NDX- 33 GREEN;

VIX slightly higher at 31.43;

Down volume about 1.5x the up;

TRIN- .97;

Market internals and action not looking so great for the bulls - yet but I suspect a little turnaround Tuesday action before long and I expect to dip into the SSO/QLD etf's and finally a decent discussion on CNBC about ETF's- they are not evil- as long as you know what they try to do-

And on the dark side - the SPX is moving lower and further away from both the 50 and 200 SMA's-