Stocks Falling into Final Hour on Global Growth Fears, US Debt Ceiling/Shutdown Worries, Technical Selling, Homebuilding/REIT Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Below Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 17.49 +5.36%

• Euro/Yen Carry Return Index 138.17 +.23%

• Emerging Markets Currency Volatility(VXY) 9.85 -.81%

• S&P 500 Implied Correlation 51.21 +5.13%

• ISE Sentiment Index 94.0 -22.96%

• Total Put/Call .96 +.28%

• NYSE Arms .94 +61.63% 

Credit Investor Angst:

• North American Investment Grade CDS Index 80.53 +1.05%

• European Financial Sector CDS Index 140.96 +.80%

• Western Europe Sovereign Debt CDS Index 82.31 +1.0%

• Emerging Market CDS Index 293.50 +.08%

• 2-Year Swap Spread 13.75 +.5 basis point

• TED Spread 22.25 -.75 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -5.75 -.25 basis point

Economic Gauges:

• 3-Month T-Bill Yield .02% unch.

• Yield Curve 229.0 -1 basis point

• China Import Iron Ore Spot $131.40/Metric Tonne unch.

• Citi US Economic Surprise Index 44.90 -6.9 points

• Citi Emerging Markets Economic Surprise Index -.90 -.8 point

• 10-Year TIPS Spread 2.20 -1 basis point

Overseas Futures:

• Nikkei Futures: Indicating +28 open in Japan

• DAX Futures: Indicating +28 open in Germany

Portfolio: 

• Lower: On losses in my tech, biotech, medical sector longs 

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges, then covered some of them

• Market Exposure: 50% Net Long