OPENING LOOK

Markets are trading near the flat line as I type with one interesting development. AMAT supposedly disappointed last night and is now trading higher along with the SEMI group. This is one group that has gone straight down over the last few months and may now be putting in the bottom.

Strong sectors include biotech, internets, semis, homies, trannies and utils while metals, banks, real estate, insurance and oils lag.

Key stocks mixed with CELG DECK ISRG WYNN TIF COST LVS and AAPL higher while POT UA RIMM MA C NVDA and VMW lag.

NYSE -1,100 net losers;
NAZ 550 net losers;
NDX 65 WINNERS- PETM GENZ BIIB CELG VMED YHOO VRTX QCOM ERTS WYNN;
OEX 50 WINNERS- AMGN DIS CMCSA HD WY MRK PG PEP KO NSC;
IBD 100-33 WINNERS;
IBD 20-MIXED- GENZ GILD ESRX AAPL HAL SYK XTO BLK CME GOOG the winners;

VIX slightly higher and a few points over the 10 day SMA;

The VXV recently started trading and this fish will be keeping a close eye on it-

Technically on the SPX, areas to watch include the Pivot at 1,476, 50% retracement- 1,474, overhead resistance-1,484, 200 SMA- 1,484.

On the DJIA, resistance is at 13,230 the 200 SMA, and 13,360 the 50% retracement area and the recent highs, support near today's lows.