HIGHER MARKETS

Markets open higher on the heels of down ticking interest rates and over sold market conditions. Big caps are leading once again as the RUT continues in last place.

Strong sectors include utilities, metals, oils, reits, brokers and financials while airlines and drugs lag.

Key stocks generally green led by MA C JPM LEH BSC MER MS CTSH INFY GILD TXT DELL AA RIMM GOOG AMAT AMZN and KLAC.

Lower are BOT ICE NMX CELG AMGN and AAPL.

Market internals are strong with a net 1,100 gainers on the NYSE and 500 net green on the NAZ.

The OEX/NDX running at about 4/1 green to red.

The VIX is lower by about 5% but still in over bought territory indicating this rally probably has legs. Note the SPX closed yesterday at its 50 day SMA just like it did last Thursday; is that a retest of the lows?

The 10 year seems to be hanging in at the 5.24% level and if it holds steady or goes lower we could see some major upside action.