MORNING TRADE

Markets are trading higher on the heels of better than expected factory orders after an initial dip lower.

Strong sectors include ags, defense, airlines, oils, emerging markets, utils and banks while gaming, semis, real estate and biotech lag.

Key stocks- half higher- leaders- CELG UA DECK POT NVDA MO KO PG XOM AAPL- lagging are LVS WYNN GRMN MGM BIDU INTC CME ICE MA KLAC and VMW.

NYSE- 725 net winners;

NAZ -FLAT;

NDX-55 WINNERS;

OEX-65 WINNERS;

IBD 100-65 WINNERS;

WINNERS- FTI CPLA CF DNR GMCR BUCY CAM APOL CAM SHLD CHKP CTXS AKAM CTSH BAX RTN NXY ATI IP HAL ORCL GD BUD MO TGT;

LOSERS- LTD CSC INTC CMCSA TXN EMC USB DELL COF VRTX MNST WYNN GRMN SBUX MEE ABB BIDU MA TEF ITU NDAQ ICE;

VIX- flat near the 23 level and still overbought above the 110% of the 10 SMA level;

Up volume slightly better than Down volume on the NYSE;

Technically, the market is again above the important 1,450 level on the SPX and a bullish short term period for the markets may be beginning. However, the NDX- is again under performing and big cap tech is not participating in this rally nor is GS.

Internals on the major indexes better than overall internals and not sure which ones will work today.