10am update - morning weakness

Good morning. The market looks weak. With the ADP jobs data coming in somewhat lousy, there is amply excuse for a down cycle across the morning. Oil is starting to slide, and the precious metals are still utterly failing to show any dead count bounce. VIX looks..primed.


sp'60min

vix'60min

Summary

I don't know whether we're done or not...1573 might have been the high.

Regardless, I'll be on the short side for the next 4-6 weeks or so.
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*its amusing to see lead clown man 'Pisani' on CNBC ask the question 'is the rally in trouble'.

Yeah Mr P, ya think?

I can only imagine the disturbed and concerned comments we'll see when sp' breaks back below 1500. They'll be begging the Bernanke for QE to continue at least into 2014.

The annoying thing is...they'll likely get their wish.
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