THEY ARE UP

Its early but the leaders today are SMH (+1%)QQQQ(+1%) and IWM(+.75%). Believe it or not, no sign of a shift to the big cap stocks (lol) SPY (+.49%).

Market internals show about 1,500 more advancers than decliners and the markets are led by, yikes, tech, semis and bios (AAPL SNDK AMGN GOOG IBB).

The laggards are the OILS and the Volatility indexes as they sink 3 or 4% lower and based on their slippage it will not be long before we get sell signals as the markets, regardless of what bubblevision quacks, are rangebound.

My buys yesterday of IWM and SMH are green but I will trail them closely as flexibility is the name of the game for now and I would not be surprised to see the oils flip to the greenside later on in the day (same old same old).