CHOP CHOP

Looks like the call for choppy trade was correct (so far) as the bulls and bears try contemplate the direction of the next 200 points.

Strongest sectors - oils, metals, trannies, midcaps, drugs, retail and utilities while gaming, real estate, software, airlines, tech and biotech bring up the rear.

Market internals- flat on the NYSE and net red 440 on the NAZ.

Major index internals - OEX 40/60; SPX 200/300 and NDX 35/65.

IBD 100 stocks about 50/50 with CNH EDU POT DWSN BTJ ALGT and HPC leading and CPA ICE NTY HRT CVNS CHL and SYX lagging.

Key stocks MER MS BSC AAPL higher and GS GOOG INTC BIDU DNA ICE CME IAI all lower.

Volatility indexes all lower and now trading only 3% above their 10 day SMA's and 2 day RSI on the OEX now near 60- So much for the oversold markets.