THE POP

Markets trade higher this afternoon after a little pullback at the SPX 1,420 Pivot Point area. The DJIA +210, NAZ +35 and SPX +17.

Sector strength- China, emerging markets, internets, brokers, insurance, banks, biotechs and semis; losers- oils and metals.

NYSE internals- 1,000 net winners;

NAZ internals- 510 net winners;

NDX -90 WINNERS;

OEX -85 WINNERS;

IBD 100-65 WINNERS;

WINNERS- HDB CNH PFWD CHL GRMN EDU ATVI SPLS SNDK APOL EBAY RF LEH EMC JPM MS AIG AXP DELL;

The DJIA has regained almost all the losses of yesterday while the SPX is way behind and just 18 points to the green after losing 34 points yesterday. The culprit, probably energy as it lags with the big sell off in crude.

Other issues, in light of the big ramp- NYSE/NAZ internals- 1,500 net green while yesterday closed with about 3,200 net red. Bottom line, yesterdays sell off far worse than today's recovery despite the almost unchanged DJIA.