Morning Movement

Markets are way higher on the heels of the good news in Europe and slumping commodities. The DJIA +240, NAZ +45 and the SPX +25.

Best performing sectors include brokers, banks, insurance, airlines, semis and retails while oils, metals, ags and drugs lag.

Key stocks- 37/40 higher led by C MER MS WYNN BAC AMZN GS ISRG MA and NYX- losers- MON POT PM BG;

NYSE- 4.5/1 WINNERS;

NAZ-3/1 WINNERS;

NDX-95 GREEN;

OEX-90 GREEN;

IBD- 60 GREEN;

WINNERS- ANSS TKC PCLN BLK EDU AZZ SNDK AMLN AKAM HANS WYNN LRCX EXPE LEH C RF MER MS S COF JPM AIG VZ GS;

LOSERS- MO OXY AA SLB CVX COP JOYG YHOO STLD FWLT HAL CCU ABT PEP AA SLB WMB CVX EP MOS TISI AUY BVN KWK CF CLR AGU HOS;

VIX- down 9.5% at 23.2- and 10% below the SMA 10;

Up volume 4X Down volume;

The 50 SMA on the SPX in the rear view mirror once again and the financials are flying high as traders/investors seem to think the worst is behind them. Only time will tell- but it does look like a day to buy pullbacks as it doesn't look like this market is going to fall back big today. Tomorrow another story as the VIX is getting over sold.

And congrats to those who bought the 1310/1315 pullback.