THE FLAG

Markets moving higher as oil is down over $2 - and a nice bull flag pattern over the past 90 minutes may signal a nice afternoon move up if oil doesn't move up first.

Sector strength- gaming, homies, banks, retail, shipping, brokers and trannies while energy, metals, utils and ags lag.

NYSE- 890 net winners;

NAZ- 780 net winners;

NDX- 80 GREEN;

OEX- 70 GREEN;

VIX- down about 5% at 20.5;

SPX up at 1295 and the next stop before reversing probably the 1300 level and keep the 1313 recent high on the radar- and of course keep the NDX/RUT on the screens as they are out performing the major indexes again.