So far the morning is playing out as Doug Kass suspected - just wondering if the bulls show up later today and defend with end of the month buying- its early.
Strongest sectors- defense drugs and junk while energy, metals, gaming and biotech lag.
NYSE- 1600 net losers;
NAZ- 1300 net losers;
NDX- 5 GREEN;
SPX- 30 GREEN;
VIX- barely higher at 25.7;
TRIN- .6 with down volume 3x the up- this indicator becomes less valuable as stocks like FNM FRE C BAC skew the volume -
As I say- this could very well turn around later in the day as the bulls try to defend their recent gains.