THE WAIT

Markets are trading near the highs led by airlines, telecom, gaming, brokers and defense while homies, oils, gold and retail lags.

NYSE- 975 net winners;

NAZ- 680 net winners;

NDX- 60 GREEN;

OEX- 65 GREEN;

IBD-60 GREEN;

VIX- flat;

Up volume a bit more than down;

TRIN- 1.24 - kind of surprising as volume is flowing to the days losers;

SPX 1400 remains a big battleground as we continue to trade under- while DJIA 13K is probably the next fight on that index. NDX/NAZ doing just fine as they are now down about 7% on the year after being lower by nearly 20% at the market lows.

Oils and metals still heading lower but just wondering if we aren't going to mark the short term lows with this FED announcement.

And Bill at VIX+MORE is looking at a bullish yield curve according to history.