NOON LOOK

Markets continue to flop around with the DJIA higher, the NAZ lower and the SPX near the flat line.

Technical areas to watch. On the SPX:

The recent low near 1,450 looks like near term support with resistance at the 1,474 area (50% FIB retracement), 1,484 (50 day SMA) and 1,490, recent support and now resistance.

On the DJIA:

Seems like overhead resistance near the 61.8% resistance area at 13,155, support below at the FIB level of 12,910. Thursday's high at 13,350 another resistance area as it also the 50% FIB retracement level.

GS:

Trading up $7+ with clear support at 50% retracement line at $204, next resistance the 20 day SMA near $226 or the FIB at $229.

Interesting to look at the various index internals, DJIA with 19 up and 11 down led by C HD IBM JPM WMT JNJ - lower are AA XOM KO DIS MSFT and CAT.

NDX - 55 WINNERS;

OEX- 63 WINNERS;

IBD 100-22 WINNERS;

IBD 20-6 WINNERS;

The IBD 100 internals are ugly because of the disproportionate amount of metals and oils- note - MTL CF CNH MDR POT FCX NOV CAM AGU CLB all ugly and lower by more than 5%.

OEX internals strong on the heels of the recently strong financials led by C MER WFC USB GS WB LEH JPM all higher by more than 3%.

On another note, BRK.A seems to be holding up well during this sell off and I suspect Warren may be tempted by some bargains. The stock is a bit difficult to buy at $135,000, but two wonderful mutual funds own big positions WGRNX and FAIRX. Both have been great value investors over time and I expect that will continue.