LUNCH CRUNCH

Well for the first time in quite a while - a fade of a gap worked quite well - as the DJIA/SPX flipped to red after a strong move in the pre markets- Currently SPX +1.4, NAZ +16 and DJIA +7.

Strongest sectors- semis, retail, junk, ags, trannies and internets while energy, biotech, metals and homies lag.

NYSE- 700 net green;

NAZ- 450 net greeng;

NDX- 75 GREEN;

OEX- 60 GREEN;

VIX- flat at 36;

TRIN- .87 with upside volume still 2x the down;

SPX right back at 875 and this fish will watching the activity around these levels- I suspect we get another shot higher as the internals stay fairly bullish despite the big sell off.