OPENING LOOK

Markets open mixed with breath positive as there are about 1,000 more issues gaining than losing.

Airlines are again accruing the dividends of lower oil prices as crude slips under the $70 level. Other winning sectors include SOX, drugs, retail and the consumers; losers are led again by oils, metals, banks and brokers.

All the major brokerage houses are lower led down by BSC MER and GS. I view this as a big warning that the major market indexes are going to run into a head wind. Maybe not today's business, but I would watch this group closely.