THE DIP

Markets selling off and the worst I have seen in quite a few weeks - DJIA -90, SPX -8.5 and the NAZ 21.

Strongest sectors-banks, real estate, ags, fins and silver while oil service, emerging markets, metals, brokers and retail lag.

NYSE- 1200 net losers;

NAZ- 1100 net losers;

NDX- 15 GREEN;

SPX 75 GREEN;

VIX - up 3% at 25.62;

TRIN - .37 as there is slightly more volume at the green end;

RSI 2 level down at 45 on the SPX - as low as it has been in quite some time- as I watch the QQQQ bounce off S2 at 39.6- wouldn't be a surprise to see the market rally right back as lots of folks want the smallest of dips to buy.