Not much to say except markets are higher and every guru interviewed says wait to buy as I expect lower prices with the SPX trading down to the 1300/1325/1350 levels.

Not sure if that is going to happen (probably won't) as the market rarely accomodates gurus and TV strategists.

The bright light today is the action of the internals in the big cap indexes. The OEX shows 80/20 green to red; SPX 375/125 and NDX 70/30. The best tell of all is "usually" the internals so maybe higher prices before the day is done.

Strongest sectors include exchanges, gaming, emerging markets, metals, brokers, defense and reits. Leading lower are homies, semis, growth stocks, airlines and utilities.

CME BOT ICE MA AAPL GOOG GS MS RIMM BIDU all acting well while NYX MER KLAC INTC all lower.

Biggest gainers overall include BEAS LINTA ORCL SYMC CTSH S ATI NSM PG ORCL and DIS while AA AES MCD MEDI LEH IBM and HD are the leading losers.

Volatility indexes generally around 15% lower and a few more days like this and they will be back at their 10 day SMA.


And Baseball is back as the NY Mets are on SNY.