The retest continues. It has been suggested this morning from one of our posters that the test has failed. He may be right. I'm holding on that it could still hold. The S&P got just under its November low by about a point or so and as of this post it is back above it at 752. Needless to say the market is demoralizing and the mlp index is in fact losing ground here faster than the rest of the market. It is now up for the year by less than 2%. Dow down 127 and back over 7200! Whoopee!

The largest mlps are leading the way downward like Nustar(NS) Oneok (OKS)Enterprise (EPD) Plains All American (PAA)Kinder Morgan (KMP)etc all down between 1 and 2 points. Oneok is down 2.50.

With the world coming to an end with every tick it makes the tape very hard to watch. White House insists a priviately held banking system is the way to go and that has caused the market to firm up in the last few minutes. Down 115 on the dow and off the lows of minus 160. Rallies are where you find them.