THE OPEN

The markets have again opened higher on the bullish inflation news reported at 8:30; now the question is whether to fade or buy the pullbacks.

Market internals are bullish with 2,400 more winners than losers but the NAZ ratio has come down substantially in the first twenty minutes from +1,400 to +700, so heads up to the longs.

The SMH has also flipped from up 1% to flat and that makes 2 heads up as they often lead the general direction.

Best performing sectors are homies, metals, airlines, oils and internets; laggards include retailers and consumers.

Volatility indexes are a mixed bag, but we know they are oversold and giving sell signals.

My plan for now is to watch as I really don't see the market moving much in either direction for the moment.