Equity markets are lower this morning but well off their worst levels - and the SPX did tag 1199.2 yesterday - so curious to see if they can bring them back and head over the 1200 level- currently SPX -4, NAZ -3 and the DJIA -8.

Strongest sectors include - gaming, real estate, junk, nat gas, homies and semis while metals, oil service, airlines, banks and energy lag.

NYSE- 920 net losers;

NAZ- 600 net losers;

SPX - 160 up and 330 down;


VIX- higher by 6% at 16.55 and a hair under the SMA 10.

TRIN- .62 with down volume slightly higher than up;

Gold down .5% at 1150.

Dollar up a hair at 80.72.

RSI 2 levels all over the board on the major indexes:

SPX 44;

NAZ 64

NDX 80


So apparently energy dragging the SPX down a bit while semis and tech are outperforming and causing the NAZ/NDX to be the winner to the upside.

Still long SMH BMY SNY GGP MGM - for short term trades - and hoping for lower prices to add.



Here we go again as it looks like equities just want to go higher very very slowly- no complaints from me although I am expecting sellers to show once we hit the SPX 1200 level-

Presently the SPX +3 at 1197 while the NAZ is +3.5 and the DJIA +22.

Strongest sectors include gaming, airlines, banks, semis and energy while nat gas, biotech, reits and real estate lags.

NYSE- 470 net winners;

NAZ- 300 net winners;

SPX- 275 up and 215 down;


TRIN- .54 with up volume about 3x the down;

VIX- continues to drip lower and at 15.57 and about 7% under the SMA 10;

Gold up a bit at 1165;

RSI 2 levels on major indexes at/near 90

Looking for sellers to step up later in the day as the 1200 SPX number gets tagged- and then the dipping should begin as hopefully the markets sells down for a few days as the DJIA could not 11k chatters talk begins- Hard to forecast this stuff but giving it a shot-

Added to positions in MSFT BMY and holding SMH as it acts pretty well.

A shame that Tiger didn't win yesterday as he is such a great guy - and why do folks think Phil held on to win- he did pretty pretty well on
the back 9 yesterday -