NOON CHECK

Markets continue to trade lower although off their lows with the SPX type outperforming the NAZ group and the small caps.

Sector leaders continue to be brokers, oils, retail, semis and biotechs while metals, internets, trannies, drugs and tech lag.

Market internals have improved dramatically from the open with NYSE at -145 and NAZ at -225. The fixed income group is not helping the NYSE as the 10 year Bond is lower with a rate at 4.47%.

The oil service group is bouncing around with a green bias after the release of the bullish inventory numbers.

I suspect a better than 50/50 chance of an afternoon run up in equities since that has been a high probability trade since the summer lows.

DJIA components are trading with 12 up and 18 down with the winners being HD CAT VZ BA and HPQ while the losers are MRK XOM MMM HON GM DD and INTC.