THE OPEN

As the futures forecasted, the markets opened higher and the SPX is trading at 1,431 and about 9 points below my short term target area.

Strong sectors include gaming, airlines, internets, aussies, retail, trannies, banks, brokers and biotechs. Lagging are semis, oils and metals.

Key stocks are generally higher with MER and GOOG leading while ICE and BOT are lower.

Market internals are very strong with the NYSE +1,600 and the NAZ +1,150.

The internals on the three majore indexes SPX/NDX/OEX are all about 4/1 green to red.

In addition to MER and GOOG, strong stocks include TGT HD DIS IP TWX UAUA LINTA WYNN DISCA and INFY.

Weak ones include XMSR MRVL PTEN SYMC SNDK LRCX MICC BHI COP WMB SLB KFT XOM and AES.

Volatility indexes back under the 10 day SMA as they sink about 7%.

I was contemplating buying more metals on the lower gold price but they aren't dropping and I suspect a better trade will be more EWA on the next dip in that space. Oh and the 2 day RSI on the SPX as I type, 90.