MORNING SINK

Markets are open and trading with the SPX near the unchanged line at 880 while the NAZ is down 4 at 1742.

Strongest sectors- drugs, internets, biotech, retail and consumers while metals, telecom, semis, real estate and trannies lag.

NYSE-700 net losers;

NAZ- 500 net losers;

SPX 200 GREEN;

NDX- 30 GREEN;

VIX- flattish at 31;

TRIN- 1.39 with down volume 3x the up;

Markets seem to be heading lower again with over sold areas hit on all major market indexes - also the SPX is trading below the 883 level which is the SMA 200 area.

Looking to buy again and catch a falling knife it is due for a bounce and we may be setting up for a nice little rally.