AFTERNOON TRADE

Markets are higher but seem to have moved into some stiff resistance at/near the 845 pivot area on the SPX - corresponds with around 842 on the ES. SPX +9.5 NAZ +22 and DJIA +62.

Strong sectors- banks, real estate, brokers and homies while metals, semis, biotech and drugs lag.

NYSE- 1400 net winners;

NAZ- 1100 net winners;

NDX- 75 GREEN;

OEX- 70 GREEN;

VIX - lower by 5% at 37.35;

TRIN- .55 with up volume about 5x the down;

Gold and crude near unchanged;

Looking for chop the rest of the day as t SPX 845 appears to be stiff resistance- on the down side probably no lower than the 825 area seen early this morning - My trade this AM was IYF and am gone now- MS interesting into earnings and the FM crew all over it- we will see.