NOON CHECK

Markets continue to move higher into the mid day with the DJIA +100, SPX +13 and NAZ +31.

The recent buy signals with the SPX DJIA etc all with 2 day RSI's under 5 proved to be a plenty good entry point. I was probably a few days early with my "asset alligator" call but it seems like today is the day the allocators realized, hmm, a trade out of bonds and into equities may be good, BUY LOWER SELL HIGHER, as the 10 year had rallied to the 4.5% rate a few days ago. I expect the rates will continue to rise and probably hit the 5% rate before the end of the first quarter.

Sector leaders continue to be perfecto for the bulls as airlines, semis (flipped and ignored the downgrade), brokers, biotechs, tech, internets and small caps lead the way higher. To the downside, gold, MO HD CAT and HD.

Market internals continue uber bullish with +1,550 on NYSE and +1,080 on the NAZ.

Funny how fast they forgot about the crummy retail sales on Thursday. I guess a bull market that is oversold cures all.