OUT OF THE GATE

The markets open higher with the internals off to the races with 1,900 (very bullish) more winners than losers. The brokers are leading the way with HO-GAN's employer JEF up 6.4% to 66+ after reporting excellent numbers. Just about every other sector is higher with the Homies notably in the red. The 10 year Bond is helping equities with the rate down to 4.98%. Retail, Oils, Metals and Techs all up at least .5%.

The NAZ and the SPX are both up 1/2% and the initial resistance area on the SPY is the 129.3 level and second resistance is at the 130 area. TRADING RANGE ANYONE?