NO CRASH

Markets trying to make a stand as the tech heavy NAZ/NDZ lead higher along with the financials led by JPM LEH and MS. Markets are over sold and buying here should not be surprising after the initial dip lower.

Strongest sectors include airlines, retail, homies, semis and financials while metals, China, drugs, energy and emerging markets are lower.

Key stocks 23 higher and 17 lower led up by GRMN ISRG DECK NVDA AAPL MS and UA while MTW CROX BAM XOM ICE BG RIMM and POT are lower;

NYSE internals -340;

NAZ internals -115;

NDX 75 GREEN;

OEX 50 GREEN

IBD 100- 35 GREEN;

Biggest winners- CRNT GRMN EJ CHL HDB HAL BDK LEH MS XRX TYC ROK MSFT SNDK XMSR ROST LVLT YHOO SHLD SIRI PETM;

Biggest losers- SEPR ERIC APOL EBAY ESRX JOYG NXY SLB COP AXP MMM DD RTN XOM DOW HPQ FSTR VSEC OII LIFC FTK GMCR GSOL;

VIX index a bit higher and still trading about 21% above the 10 day SMA;

Markets probed lower early and are now in full rebound mode as the NDX futures are up 22 points as I type. SPX futures also up about 4 points and look to be headed higher as financials lead and internals continue to improve.