AFTERNOON PEAK

The markets continue to trade near their highs of the day and the leaders are Small Caps, Tech, Drugs and Banks. AAPL and GOOG have a bid today for the first time in quite a while and that is spreading to other tech. Losers are the metals with both oils and brokers trading near the flatline.

The trusty internals tell shows about 1,800 more winners than losers and that has not changed much all day. SPY never traded down to the 127 Pivot area so tomorrow is another day for a pivot touch as it is rare when it does not happen. Its on my radar for tomorrow.

The only other excitement about today's trade is the crushing of the Volatility sisters. Both VIX and VXO are trading down about 8% and both are now about 5% below their respective 10 day SMA's.