THE QLD

Equities are getting crushed on the heels of a rule limiting proprietary trading by big banks - not sure why PFE is down 3% but it is- Anyhow - SPX -20, NAZ -28 and the DJIA -210.

Strongest sectors- nat gas, internets, bonds and ags while metals, Brazil, gaming, emerging markets, homies and defense lags.

NYSE- 1800 net losers;

NAZ- 1300 net losers;

SPX - 60/440;

NDX- 16 GREEN;

VIX- 21.35 and higher by 14% and about 16% above the SMA 10.

TRIN- 1.76 with down volume about 6x the up.

RSI 2 levels- not quite at the buy point but they are pretty low- also note the SMA 50 on the SPX is near 1115- so right here and now:

SPX 12

COMPQ 16

DJIA 10

NDX 17

XLE 8

XLF 10

Not ready to dip in yet- waiting till the end of the day - and looking at the NDX - so QLD it will be -