THE OPEN

Markets open higher led by the RUT and the NDX with the big cap DJIA/SPX lagging.

Strong sectors- emerging markets, oils, semis, oil service, insurance and real estate while metals internets and airlines lag.

Key stocks - 35 out of 40 higher led by NVDA RIMM INTC POT LVS CME and MSFT while AMZN MCD BG BAC KO GS lag.

NYSE - 1,700 net winners;

NAZ - 1,260 net winners;

NDX-85 GREEN;

OEX-82 GREEN;

IBD 100- 88 GREEN;

Winners- TELOZ VIP SSRX ARGN SID BCSI TKC WFR FSTR SDA ATW PCAR MXIM NVDA ORCL RIMM AIG INTC NSM CI SLB UTX EMC MSFT COP;

Losers- CMCSA NXY TWX DIS MCD BAC LTD AXP MER MDT LAYN CTRP IRIS BLK AMZN HRBN TEF XMSR SIRI DISCA AMZN LBTYA ATVI SPLS DISH YHOO;

VIX - 22.7 and down about 4.7% and trading about 9% under the 10 day SMA;

RSI (2) mainly near the 70 level;

Technically, SPX/DJIA both at/near the 50% retracement levels with lots of resistance above at the 1,490/1,500 area.

In addition the brokers have flipped to flat/red so not sure we will make much upward progress unless things in that sector change for the green.