THE OPENING FADE

Market opens lower but well off the worst levels as the RUT Futs have turned green while the NQ hovers near the flat line.

Strong sectors- homies, retail, internets, telecom and financials while oil service, ags, energy and brokers lag.

NYSE- 360 net losers;

NAZ- flat internals;

NDX- 30 GREEN;

OEX- 40 GREEN;

VIX- flat at 61;

Up volume a smidge better than down and small over large.

Gartman with some interesting stuff in his letter - focusing on the $$$$, he says

"he fears the dollar is breaking out to the upside and if it is, it bodes very, very ill for stocks everywhere and for the global economy collectively. If the US dollar is breaking out to the upside it bodes for DEPRESSION and not RECESSION. If the dollar is breaking out, it cannot be good, and this is our fear."

Markets continue to move up as I type led by the NAZ/NDX and RUT- while the dollar sinks and gold moves higher.

Next resistance on the SPX is the 890 area with support around 850.

VIX + MORE- with even more on the TRIN.

Kahn from Barrons building the case for a rally.