NOON LOOK

Markets have come up off their lows with the NAZ and the IWM being the best performing major market indexes. The QQQQ and the IWM have been in positive territory for most of the morning and may be hinting at an end of the day rally.

The market internals started the day very poorly with over 2,000 more losers than winners but have gradually improved to a reading of red 900 at the noon hour.

Sectors outperforming include metals, internets, brokers, software and drugs. The worst groups include airlines, retail, oils, biotechs, finanicials and trannies.

Brokers are sticking out as the XBD is up about 2/3% and GS is plus $1.57, LEH+$1.27 and MER is +$.7. The brokers have been crushed the last few days after a great run but maybe now signifying a bounce in the general markets.