NOON LOOK

Markets continue to bounce around with a definite bullish bias. NYSE internals continue to show that a rally is in our short term future (this afternoon) as there are about 1,000 more winners than losers on the NYSE. NAZ also bullish with about 670 more green than red. Up volume to Down volume on the NYSE also a bullish 371M to 201M. I would not suggest shorting the rallies today as higher looks most probable.

Sectors looking the best include semis, oils, trannies, cyclicals, small caps, airlines and drugs. On the red side, YHOO EBAY AMGN HD GE JPM GOOG internets, metals, banks, and retailers.

Volatility indexes barely bouncing in spite of a new week in the front view and OIH trying to snap back to the $130 area on the heels of lower crude.

And the markets are not the only thing that is resilient, how bout those AMAZIN METS.