THE NEAR OPEN

Markets are trading mixed with some interesting beneath the surface action. The DJIA +9, NAZ+.5 and SPX +2.

Market internals are strong in light of the sluggish major indexes so maybe a hint of a little jig later in the day.

The SPX has over 310 winners while the OEX has about 65, so focus on the non NAZ IMVHO.

Overall, the NYSE is +825 and NAZ +275.

Strongest sectors include metals, emerging markets, internets, banks, oil service, utilities, brokers and retail.

Leading lower are gaming, semis, trannies, tech, biotech and large cap growth.

Strongest stocks include NVDA TLAB YHOO COST GOOG AVP EXC LTD AES and NOV.

Weakest are NSM TYC TXN HPQ EK DELL CSC AKAM ICAI and WYNN.

Volatility indexes are trading near the flat line but a look at the DJIA says something different. The recent range on the DJIA has again contracted to about 60 points so we are probably due for a wide ranging day as the 13 day SMA of the range is near 90. So just a heads up that we will probably swing a bit.