REJECTED

The market is hanging in around noon time with the SP up almost 3 and the NAZ +11. The sector of the day is the Metals (+2.6%). Obviously GOOG is the big winner up 25 beaners (dollars). Market internals are also hanging at 1k to the green. The 10 year Bond is back down to 4.66% and it is now giving some juice to the builders. The SPY traded this morning down to support at 129.7 and is now hanging around at the initial resistance level of 130.4. If the internals hang tough at 1,000 plus, I would expect the SPY to make some headway north later in the day. The Volatility Sisters as usual are unchanged on the day.

The other big event of the day is the sudden turnaround of the OIH. It was again REJECTED at the 50 day SMA; after being up 2.5 points. It is now flat to pink.

One stock highlighted the other day SNDK is now up about 3.3% on the day.