THE GAP

Markets open lower but are quickly being bought as the NQ futures go flat after being down about 23 near the open.

SPX -16, NAZ -14 and DJIA -113.

Strong sectors-junk, telecom, semis, biotech and drugs while energy, materials, homies, fins and real estate lag.

NYSE- 1800 net losers;

NAZ- 1000 net losers;

SPX - 67 green and 430 red;

NDX - 33 GREEN;

VIX - higher by 3.75% at 33.25;

Down volume 6x the up on the NYSE while its flat on the NAZ;

Gold and crude down a bit while the TNX is trading at 3.217%;

Another shift as the NQ is now leading and erasing its early losses while the SPX/DJIA are lagging led down by the fins and energy.

Big cap tech winners include MSFT AAPL YHOO and NVDA.

NQ also got very oversold this morning as it traded with an RSI (2) reading near 5- so a little rotation to the recent losers. Also note the SMA 200 successful test of the QQQQ near 33.8.