FLAT OPEN

Markets open mixed with the NAZ/NDX higher and the DJIA/SPX lower. Crude also hits all time high at/near $79 while gold hangs in near $715.

Strongest sectors include gaming, internets, oils, biotech, drugs and tech while metals, airlines, trannies and semis lag.

NYSE internals -300;

NAZ internals -165;

OEX- 40 GREEN - WINNERS BDK AMGN CL WMB HAL EMC NXY DELL COP TYC;

LOSERS- ATI CBS TXN MO AVP NSM CSC RTN ROK RF CSCO DOW;

NDX-45 GREEN- WINNERS- XMSR SIRI RIMM AMZN WYNN PCAR ISRG PCAR AAPL;

LOSERS- VMED LRCX SPLS LVLT VRSN SEPR RYAAY NTAP NIHD ESRX;

VIX FLAT

Not that confident on market direction today but I will go with trading range after the big trend day yesterday.

The 1480 level on the SPX still looks like solid overhead resistance as it is near the 50 day SMA and the 50% retracement area.

The NDX is in better technical shape as it sits above all the key moving averages.