So far this week the markets have sneakily shown some red. While Monday's move was a green one for the S&P 500 (SPY  ), technical traders were quick to note how the day finished off its highs with selling pressure into the close. This led to more selling on Tuesday which pushed prices under a short term low. For the week so far the S&P 500 is lower but in the grand scheme of things is only a few points off its highs. Tensions in Syria, and other domestic, political news has many calling for more volatility in the short term.

The Nasdaq 100 (QQQ  ) has been more aggressive, and obvious in its selling this week. Tuesday was a strong selling day which left prices lower by more than 1%. Also of note is that the QQQ sold off all day long and closed almost at the exact lows of the day. Technical traders are very near calling a downtrend in the short term for the Nasdaq.

Oil (USO  ) has been in focus so far this week as well. Each day this week oil prices have moved higher giving relief to the bulls in the short term. The question, just like every other bounce is whether this is simply a short term bounce or has oil put in a low? With the buying volume lighter than average many analysts on financial media are hopeful this is a short term low.

Healthcare stocks (XLV  ) have seen some weakness so far this week after blasting off to new highs recently. The multi-week rally seems to have paused slightly in light of the Senate delaying the vote on the healthcare bill until after the July 4th holiday. The sector had been rallying on news of the details of the bill as it is widely seen to help healthcare companies as a whole.

Volatility (VXX  ) has once again hit new lows this week as investors throw caution to the wind and continue the carefree approach to the markets.