THE OPEN

Markets open way down but the out performance of the NDX/NAZ may have begun as it is doing less worse and GOOG AAPL BIDU GRMN WFMI SHLD WYNN are all higher.

Strongest sectors- oils, telecom, metals and ags while financials, banks, brokers, homies, retail and semis lag.

Key stocks - higher- AAPL BG POT GRMN DECK WYNN- lower- MER ICE MS NVDA AMZN BAC KLAC BAC;

NYSE- 1250 net losers;

NAZ- 950 net losers;

NDX -25 GREEN;

OEX -20 GREEN;

IBD -40 GREEN;

TRIN-.97;

RSI (2) levels:

SPX 35

DJIA 38

NAZ 45

NDX 66

Oils and metals continue to trade well while tech is starting to outperform. Note the XLK down .13% this AM while the DJIA/SPX down about .75%.

Downward sloping 50 SMA still seems to be big resistance on major markets but getting long some tech may be a nice trade.