MIDDAY MADNESS

Markets have been flat lining for the last few hours and seems like lots of resistance up here near the 735 level on the SPX.

RSI (2) levels above 90 on the major indexes so this rally may run out of steam before too long but looking to trade long for the day.

NYSE- 1600 net winners;

NAZ- 1100 net winners;

NDX- 85 GREEN;

OEX- 75 GREEN;

VIX - only down 4% at/near 42 and about 12% under the SMA 10;

Gold +$14;

Crude +3% and energy stocks lagging;

Strongest sectors- biotechs, banks and drugs;

Weakest sectors- trannies, energy, utils and internets;

Looking to buy pullbacks today and BGU QLD on top of the list.