We’re in the midst of a mid day reversal pattern as equities appear to be losing their mojo. TLT has actually gone positiver for the day after an early smack down. Materials are the hot sector today…both gold and oil were roaring early on but have cooled considerably. The NYSE advance/decline line (NYAD) started to crumble after the first 60 minutes and has been in a sell off mode since then. The VIX is up almost 7% after some jaw dropping short term flip flops early on. Day traders need seat belts for that type of action, which can turn a healthy profit into an ugly loss in just a few minutes.