THE OPEN

Markets open higher but are bouncing around and I don't think this is going to hold as the financials act funky once again. The DJIA +39, NAZ +6.5 and SPX +2.7.

Strongest sectors include metals, steel, oils, emerging markets, defense and trannies while retail, banks, brokers and homies lag.

Key stocks- 17/40 higher led by MTW GOOG CME CAT AAPL WYNN XOM- with NVDA POT DECK UA MS ISRG GS all lower.

NYSE- 200 net winners;

NAZ- 70 net losers;

NDX- 60 GREEN;

OEX- 63 GREEN;

IBD- 60 GREEN;

VIX- flattish;

Up volume a bit less than down;

Gold- 877;

Crude- 123;

Markets look set to go a bit lower and then like I mentioned yesterday a bounce off that probe lower. Financials looking ugly again with all the big banks and brokers trading in the red.

The next FIB retracement area that looks pretty good is 1380 on the SPX- so I will consider that area very good support for now.