AFTERNOON LOOK

BREAKING NEWS- the good folks at GM see no recession in the U.S. Who could argue with their business vision?

Anyhow, markets continue to meander with the SPX/DJIA higher and the NAZ/RUT lower.

Strong sectors- airlines, telecom, homies, insurance, trannies and banks while internets, oils, emerging markets and reits lag.

Key stocks - generally lower - leaders- UA NVDA NYX GRMN LVS BAC MO CAT ICE MGM- laggards- VMW ISRG BIDU AMZN KLAC GOOG KO CME MA BG MS RIMM POT;

NYSE- 600 net winners;

NAZ- 160 net winners;

OEX- 50 WINNERS;

NDX- 55 WINNERS;

IBD 100- 33 WINNERS;

IBD 20- 8 WINNERS- BIIB BLK BBY CSX GENZ HES NTRS CB;

VIX- near the unchanged mark;

TRIN- 1.19

Up to Down volume nearing the equal line;

Big cap indexes hanging in higher while tech brings down the NAZ/NDX- Tough to game tomorrow as most seem to think the markets get sold no matter if its 25 or 50. Not making a bet on it now as my trading positions will be flattened out by the time 2:15 tomorrow appears.

Resistance on the SPX looks to be near 1,385 with support at 1,310 levels.