MORNING TRADE

Markets are way up but have drifted down since the opening print. The DJIA +170, NAZ +46 and SPX +19.

Strongest sectors- internets, brokers, ags, financials, retail and tech while metals, steel, oils and utils lag.

Key stocks-35/40 green led by GOOG BIDU AMZN C CAT MTW BAC V POT- losers- ISRG KO KLAC PG XOM;

NYSE- 1675 net winners;

NAZ - 1300 net winners;

NDX- 90 GREEN;

OEX- 90 GREEN;

IBD 100- 80 GREEN;

VIX- down 4% and trading at near 88% of the SMA 10;

Up volume 5X Down;

Looks to be one of those buy the pullbacks days for day traders and for the longer term - dipping into metals and ags may be a nice trade. DBA/DBC/GLD/DBS/DGP all dipping and I will be buying.

The 1385 resistance on the SPX is here and now and the action from here should be interesting as every technician will say - we need to break through this level.