Mid day and an ill wind is blowing through the markets. The day started off with the NYAD at .09, which was actually positive since this is a typical turn around threshold…but with the usual market frustrations, NYAD as risen to .16 at post time while the market is down another 50 points….go figure. No surprises here…EEM is the weak leg while the Qs lead (relatively speaking). Volume is not particularly robust so this may be just a little pullback before the Wednesday news fest. Amazing how the Greek situation manages to drive these wild gyrations in the market…at least according to the talking heads…but there are probably much more fundamental causes and caution remains the watchword for the day as TLT hits a new high at 115.19.
