FED HEADS

Markets trade flat after the big Fed announcement- as the boys show concern about inflation.

Strong sectors include semis, emerging markets, real estate, retail, airlines, financials, midcaps and tech. Laggards include biotechs, oils, gaming, trannies, silvers, drugs and large cap value.

Trading higher are GS MER BSC ICE JPM MA SLG RIMM BIDU AAPL and GOOG.

Lower are BAM NMX CME MS AIB FLA JOE CSCO XOM FTO SGP LVS WYNN CTGSH and YHOO.

Market internals are mixed with net 275 green on the NYSE and net red 265 on the NAZ.

The OEX is about 3/2 green while the NDX /SPX are close to 50/50.

Volatility indexes continue to trade flat and above their 10 day SMA's.

My guess is that the markets trade higher into the close and probably for the rest of the week as the demand for equities will probably trump all the other nonsense. Oh and the oils are probably a buy on this dip.