QUICK TAKE

W is going to talk shortly about budget deficits and I bet he says how they are beating estimates and coming in lower than expected. I don't expect that to be a market mover, however, note on the markets opening the best performing groups are oils and metals followed by SEMI's. Haven't said that in a while and that may be a tell for a short term rally as few expect it. Other stocks acting well on the open include KLAC, NVLS, AMGN, DNA and EBAY.

The market internals (-1400 and improving) are not confirming any upside action yet but this is just a heads up. Also keep in mind the 200 day on the SPX is right here right now.