EARLY PM LOOK

Markets continue to bounce around on the heels of Big Ben's comments and an oversold condition. I continue to expect the market to get a little jig this afternoon as Fund managers try to goose the market higher to preserve gains and bonuses for as long as possible.

Sector winners continue to be in the oil patch, brokers and drugs. Leading lower include semis, trannies, gaming, airlines, internets and metals.

Market internals about as flat as they get withe +350 on NYSE (fixed income skew) and -300 on NAZ.

GS DNA MER AAPL all higher while GOOG JPM LVS INTC MSFT all lower.

The DJIA is evenly split between winners and loser with XOM VZ MO JNJ and DD leading higher and HD JPM GM CAT GE and INTC leading lower.

The big fly in the ointment remains the semis as the SMH is lower by about 1.5% while the NAZ is barely down.