LATE MORNING FLIP

Markets have apparently shaken off the lower crude prices and have rallied as predicted by the green in the financials. The DJIA is still the standout index up 40+ as I type. Soon we will hear the talking heads yap about new record highs on the DJIA as they are now just 10 away from the closing high and 38 or so away from the all time high.

So maybe the markets have rallied because the stock market is a closet democrat? Sure. Anhow, sector leaders include airlines, retail, banks, brokers, drugs and consumers. To the downside are metals, oil and semis (thanks MRVL).

Market internals have flipped to flat and for today the best market tell seems to be the financials and the brokers. So keep a close eye on GS MER JPM C and BAC.

Volatility indexes also back to flat as fear has dissappeared about as soon as it showed.