THE NDX

Markets open higher led by the NDX 100 which seems to be stair stepping straight up on the morning interval chart. The DJIA is flat, SPX+7 and NAZ +19.

Strongest sectors include metals, internets, brokers, oils and airlines with retail, defense and homies lagging.

NYSE internals +530- NAZ internals +640;

OEX- 60 WINNERS led by EXC NXY EP GS TXN CSC AES VZ LEH and SLB; LOSERS- HD BA RTN TGT DOW AA BAX HON CL NSC S;

NDX -70 WINNERS- led by GRMN YHOO SNDK NVDA EBAY AAPL BRCM AMZN JNPR VRSN and GILD- LOSERS- MNST ROST AKAM BBBY LAMR RIMM LOW ERIC S SPLS CTSH;

Volatility indexes up about 1% and trading at/near their respective 10 day SMA's.

UP volume DOUBLE DOWN volume;

Strong action in GS BSC LEH MER MS CME SMH HHH AAPL AMZN BIDU GOOG HPQ IBM MGM LVS MO XOM bodes will for a bullish day.

Markets are acting very well with the SPX sitting at resistance at/near the 1480 line. The 50 day SMA is still above at 1488 and I would look to that level as for a short term target.

The NDX broker through the 2,000 level and is only about 55 points off the recent high near 2060. I suspect it gets there before too long.