Pre Market TAO Friday 6-12-09

The TAO is neutral this am....After the big sell off at the close Es futures flatlined overnite and resumed selling at 5am et...
Spy will open a little down from close ...dollar is firming up and oil is selling off a bit ....still a buyer of dips so a move to wed's buy zone is a buy ,,,,
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9:40 et am..... financials strong......energy weak.... tick neg bias ....spy gap down but trying to rally

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10:21 et am ....tick is still neg bias ,big buyers havent stepped up to plate yet ...xl's have moved back up into yesterday range.....and just got first +800 tick with increasing volume.....i wouldnt call this a trend yet ...we need to fill am gap and hold above it....
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10:38..et am......looks like xly is selling below weekly lows....all xl's are in a miutiday range and lifting higher ......this could be a rotation of money out of consumer staples to more risker sectors....this makes sence with a low Vix ...

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10;45 et am spy just filled am gap ...now we see if she holds
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10:55 et am ....looks like gap is holding now we need to take out the pivot point at 95.08....and a little more volume , please sir....
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11:04 et ..am ..........es futures have moved above daily pivot and well above overnite lows....xl's are in wed/ thur range and nyse tick is mixed ...so we look to be range trading today......
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12:18 et pm...spy retraced am rally to 62% fib and now on way back up.....this should be wave 3...which should take price above pivot...

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1:12 et pm......the Nyse has been broken and it looks like their desk people are doing all the trades manually.....the market action remindes me of my cat coughing up a hair ball......
we're just dwaddling along......