The market is giving back much of this mornings gains and for the NASDAQ, then some, as it is in the red at the moment.  The semi-conductors are particularly weak. The small caps are in the red too.  The midcaps are just below water.

There are some interesting areas of strength, notably the REITs that appear to be breaking out.  A reversal there would not be pretty, so enter in stages (scale) if you are a buyer.  As far as the SP500 goes, I went over everything in detail in my latest issue of the SP500Tracker™ that was out last night.

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