BREAK OUTS

The markets again appear to be breaking out and the Phillie Fed numbers from last Thursday are again part of a distant past, or maybe its end of month/end of quarter shenanigans or MARKUPS. Check out the action in the QQQQ relative to the SMH. Doubtful in my opinion that this action will continue in light of these divergences.

A closer under the surface look at today's action finds the following- NAZ market internals with 1,600 winners and 1,400 losers; the SMH ETF higher by six cents as I type with big daddy INTC up 2.75%, indicating pretty crummy action from the rest of the group; the IWM small cap index up eight cents.

And if you think the major market indexes will continue higher with out these two "leading players" well not likely as today has all the indications of month end quarter/end mark ups.

Volatility indexes down 4%/5% and back to the 10.5 and 11.5 levels for the VXO/VIX respectively.

My trading lately is all DJIA Futures, buying and selling dips and rips based on TICKS and pivots. It works very well if one concentrates, uses great discipline and is quick on the trigger.