Markets are trading lower on the heels of last night's disappointing news out of INTC. The DJIA -81, NAZ -50 and the SPX -14.
Strongest sectors- telecom, retail, utils, banks, real estate and biotechs while ags, emerging markets, metals and oils lag.
Key stocks generally lower with WYNN MGM MER LVS GS MS CELG higher while NVDA INTC POT GRMN ICE BIDU AAPL RIMM BG MTW are crushed;
VIX higher by 1.5% to 23.69 and it hardly seems to move regardless of how low the markets go;
NYSE- 500 net losers;
NAZ- 600 net losers
NDX- 45 WINNERS;
OEX-40 WINNERS;
IBD 100- 10 WINNERS;
The IBD 100- a pretty good indicator of how lousy metals/ags/oils are holding up today; Most are crushed and it is showing up mainly on the momo IBD list;
WINNERS- GILD EDU SONO TTES ESRX BEAS JAVA SPLS LLTC CTAS SYMC VRTX POCO WYNN JPM LEH AEP HD MER CMCSA WFC T;
Markets are clearly below their recent lows and sitting and waiting at these levels seems to make the most sense. Many participants waiting for the guy in the picture to do something out of the ordinary.
