OPENING LOOK

Markets open flattish with the NAZ/NDX higher and the RUT/MDY lower.

Strongest sectors- brokers, defense, biotech, telecom, tech and semis while metals, homies, airlines and energy lag.

Key stocks- 23/40 green led by PM AAPL NVDA KLAC CELG V MSFT BIDU WYNN AMGN- lower- MTW POT UA MON MGM RIMM DECK C MER;

NYSE- 400 net losers;

NAZ- FLAT;

NDX-62 GREEN;

OEX- 45 GREEN;

IBD 100- 28 GREEN;

VIX- FLAT;

Down volume a bit more than up;

TRIN 1.19;

Gold gettin smoked down about $23 while oil is down $1 with the inventory news due shortly. My guess - if its a bearish report- buy the dips- If its a bullish report- buy the dips.

RSI (2) levels:

SPX 35

DJIA 35

NAZ 55

RUT 18

MID 23