The markets opened this morning in positive territory, but slowly weakened as the day wore on. SPX closed down $12 at $2019 and RUT lost $18 to close at $1145. Trading volume increased a bit with 2.4 billion shares of the S&P 500 trading, but this is still below the 50 dma at 2.5B. Trading increased 12% on the NYSE and increased 13% on NASDAQ. The VIX volatility index increased about 0.7 points to close at 16.5%.

No significant economic data was reported today.

All in all, it was a slow day in the markets, but the weakening as the day progressed is a little worrisome. Could we possibly retest the correction lows once again? I will be watching $1997 on SPX as the "line in the sand". A break down through that price would be a concern.