NOON MOVE

Markets continue higher but surprisingly the small caps made a little run late in the morning and are now the leading major indexes.

Strong sectors include silvers, metals, retail, oils, brokers, internets, small cap growth and drugs; lagging are big cap gamers, real estate, trannies, semis and homies.

Key stock generally higher with GS LM MER NYX MA PVH TIF GE PEP DVN VLO XOM XTO CTSH AMGN GILD SGP CNI FDX FDX leading and FDX INFY WYNN LVS MGM ICE CME NMX GOOG SNDK MSFT KLAC TXN AMAT BAM SLG all lower.

Internals have improved on the major exchanges with net 750 green on the NYSE and 560 net green on the NAZ.

The OEX/NDX both show about 7 higher to every 3 lower while the IBD 100 is a little better.

Big cap winners include EP LTD IBM XRX INTC COP MER INTU YHOO GRMN AKAM SBUX ISRG CTSH and EXPE.

Big cap losers- SEPR MRVL BRCM JNPR KLAC WYNN GOYG XLNX UAUA LEH MSFT T NSC HPQ FDX and AEP.

Volatility indexes down to the high 12 levels and off about 5% and sitting below their respective 10 day SMA's.

Still about 5 points to go on the SPX before the closing high gets tagged. Could happen today but probably next week and then maybe a little sell down.