Intraday correction briefly brought the XOI negative but now were at 1000 again. The overall stock market is rallying and the 10 year rate is down 7 basis points. MLPS are even coming off their lows for the most part. (an up day might be nice!)

Overall it looks like a rate rise driven correction. 4.50 looks like its holding and MLPS are digesting this in a rather orderly fashion. The correction is unlike the sell-off in April of 2004 which was far more painful. And yet a few months after that MLPS were making new highs.

Dow +68 Nasdaq +12 XOI +7 XNG+2. Natural Gas Futures today took a nice spike higher.