Lots of jello moving on the plate!

Yesterday I sarcastically tweeted : Every time market looks ready to break down, close your eyes, hold your nose and buy. NY fed will back you up.

Well..after a decent amount of deteroration, the GRM is at work again with a sharp gap to the upside this morning.  I will just leave it at that and discuss sectors.

Of course, all of energy,oil&gas, steel, copper, coal and all that stuff remain bearish. Just keep in mind…sharp rallies can occur any time. Just do’t know when.

We do believe gold and gold stocks are emerging…same for silver. Lots of resistance to get through.

Financials continue to act poorly yesterday but earnings this week…to watch. Regionals included.

Speculative biotechs working as news and buyouts continue. Mainstream biotechs somewhat mixed with a few working and a few not.

The Qs need to be watched as they are having some trouble at the 50 day  but a timely upgrade of AAPL this morning may help. Also, watch the SOX right here at the 50 day. This will be very important to the market to hold.

Market reamins in range with the most split tape we have seen in ages. This is no throwing of darts time. If you have been in the “wrong” areas the past 6 months, you have been crushed.