THE STRENGTH

Markets are ripping higher this morning on the heels of a rebound in China and some good earnings news from all companies not XOM.

The SPX +19 and about 5 points from the 1k magnet number , DJIA +150 and the NAZ +36 and a few points over the 2k level.

Best sectors- gaming, reits, banks, retail and metals while internets, biotech, energy, drugs and tech lag.

NYSE- 2100 net winners;

NAZ- 1500 net winners;

NDX- 88 GREEN;

SPX- 470 GREEN;

DJIA - 28 GREEN - losers are XOM and MCD;

VIX- only down 1% at 25.33- so not sure what the deal there;

Gold - higher by $5 at $935 and oil at $65.5;

Doubt this market is coming in much today and the plan is buying any dips - SPX over 1k probably a different story and it will be interesting to watch what happens when we get back to that level.