WIZARD OF WALL STREET

Markets seem to be treading water near the 1,500 level on the SPX and about 7 points above the 50 day SMA. Market internals however hold near the highs of the day so an afternoon ramp is probably on tap if the bonds don't tank.

Not sure why all the CNBC focus on crude; the price has vacillated between 63 and 67 over the last month and that range is probably due to expand but today doesn't appear to be the day.

Strongest sectors include metals, utilities, oils, semis, reits, defense and financials while airlines and drugs lag.

Big winners include FCXSX TBSI SSYS BTJ MT CTSH LEH MER MA C OIH VLO SLB BUD AA and TXN.

The losers include GOOG AAPL DIS VZ JNJ ATVI LVLT YHOO NSM RTN IBN LVS DNA PFE and AZN.

Market internals remain bullish with about 2,200 more winners than losers on the NYSE/NAZ while the NDX/OEX show over 170 winners to 30 losers; very bullish.

The VIX is down about 7% and is still way over bought near the 10% over level while the 2 day RSI on the major indexes hovers near 50.

Cramer's famous horseman are having a tough day as GOOG is lower by 5 and under the 500 level after Jimmy top ticked it near $525 last Thursday and AAPL is down another $3.5 to $117 after Jimmy topped it at $126. Since the call last Thursday, the horses are down about 4% on an equal weight basis while the XLK/QQQQ tandem is down about 1%. Almost always go with the index over Cramer's buy high picks.