RUDE CRUDE

An uneventful day in the markets unless one is long oils/oil service/crude as the XLE/OIH are hitting new 52 week/all time highs as crude rallies to the $96 level. Metals also big winners as the HUI is up 2.25% and looks to be in a new uptrend with the old highs (460) a short term reachable target.

The TECH heavy NDX as it is also leading the markets led by JOYG AMZN MICC GRMN ESRX AAPL GOOG RIMM INTC EBAY and BIDU.

Lagging sectors - airlines, real estate, retail, homies, insurance and defense.

NYSE- 325 net losers;

NAZ -FLAT;

NDX-50 WINNERS;

OEX-35 WINNERS;

IBD 100-70 WINNERS;

WINNERS- POT FSLR GOOG EMR SLB HAL COP T ATI XOM CAT HRBN ARD CYBS TISI BCSI BIDU AGU BIDU;

Technically, markets held the 1,490 level and are now knocking on the 1,500 door. Next area of resistance is near 1,505 then 1,520.