Monday Market Wrap

{+++}The SPX opened strong, then nose dived, then ripped again and closed near the highs. This action is absolute proof that anything can happen at anytime.

The market is very uncertain right now and the algo’s and the fast money hedge funds currently rule the roost. This isn’t normal action, its more scared action that cuts and dashes.

IBB was all over the place and traded in a ten point range.

The Russell 2000 still looks heavy, but the Nasdaq did show a small sign of life today.

I was stopped on some longs today and I’m waiting for some better action to commit here.