THIS BUDS FOR U

BUD, the beer stock is up almost 5% today after reporting higher earnings, guiding higher and they note that they have "restored beer volume growth momentum." That is good to here and maybe Warren finally has a winner on his hands. The stock has a chart that is straight down since the middle of 2004 and today is it's best day since the beginning of the slide.

Back to trading, the SPY resistance point of 131 has put a lid on the rally so far and I see some troublesome data points. The Semis are lower on the day and the QQQQ is up a whole 5 cents, so big cap tech is not leading today. The market internals are ok with 1,500 issues to the green over red. The brokers have given back much of their early gains and AMZN has turned red. The OIH put sales of yesterday look awfully nice now as the OIH is up about 2%.

The Volatility indexes are a bit pink (bearish) and I would look to lock in profits. This rally is not passing the smell test as of now and if the internals start to turn it could be right back to yesterday's lows. The 10 year Bond at 5.11% is not helping matters and may eventually be the final nail in this rallies coffin.