THE FLEECE

Markets gapped higher at the open on the heels of a good retail sales number, but the indexes have since come in after the DJIA hit a new high.

The NAZ is espcecially troubling here as it again is lagging the SPX/DJIA combo. As I type, the QQQQ is flat after being up about 35 cents or 15 NQ points earlier.

Sector winners include airlines, and I am not sure who is looking to bet their life savings in that sector along with homies, internets, software, retail, tech and finanicials. To the downside are semis, metals, gaming and integrated oils.

My 3 big tells of GOOG GS and AAPL are all green with AAPL doing the best and GS trying to bounce off of the $200 level.

Market internals are strong with 1,000 more winners than losers on the NYSE and about 700 more winners than losers on the NAZ.

The 10 year rate bounced on the retail news and is now trading at 4.544%.

Oil patch numbers coming in at 10:30 and I still expect the OIH to trade up to the $150 level before year end.