The 50 day on the SPY is now 105.50 we opened right on that number this morning traded up to the March trend line and when we couldn’t go through it post fed, sold off hard in the final 30 minutes and closed below the 50 day. Not a disaster but I think the bulls wanted to see more. The SPY and the QQQQ have almost the exact same chart. They don’t look like they want to break down, but the MA’s and trend line are acting as a lid. With that said I think the internals look awful.

The 20 & 50 day MA either have crossed or will tomorrow on the following stocks and etfs: GE, IYR, IYT, URE, PRU, BAC, SMH and C.

The 20 & 50 day MA’s are close to crossing on the following: GS JPM IWM.

UNG the 20 day crossed the 50 day on the down side and it is close to all time lows with a nat gas # out tomorrow at 10:30.

Those are just a few names that I consider to be important, there are many more that look the same.

Considering the warnings I have been seeing about troubles to come in commercial real estate I am going to be closely watching the IYR and URE and looking for potential REIT’s to short. With that in mind, KRE the KBW regional bank index closed below its 200 day MA.

Again I would remind you to keep an eye on the 50 day MA in AAPL, now 184.40. A lot of eyes are on this spot and reaction to it could tell the tale for the rest of the market.

The UUP dipped below its 20 day ma today right after the fed announcement before recovering a bit. Interestingly it traded almost 11 million shares today that may be the most for it ever. Average volume for UUP is about 2.8 million shares.

One last thing.

I’m not sure what to make of this but the US Government bond ETF’s also look terrible.

AGG, IEF, TLT, and SHY all look like they want to roll over. The TBT ultra short 20 year treasury had a nice bar of volume today its 20 have crossed the 50 on the upside and looks like it wants to pop through its 200 day. This coupled with the recent action in gold could be signaling inflation.