MY TAKE

Choppy and sloppy this morning with the Naz out performing the SPX - NAZ +3 SPX -2 and DJIA -5.

Strongest sectors- gaming, nat gas, metals, homies, ags and junk bonds while drugs, oil service, retail and real estate lags.

NYSE- 360 net green;

NAZ- flat internals;

NDX- 48 GREEN;

SPX- 215 GREEN;

VIX- flat at 23.85;

TRIN- 1.51- up and down volume about equal-

Metal stocks trading higher despite the flat spot gold- silver up near $17 while nat gas continues to out perform crude.

Many stocks in the key sector area trading red including C SLB LLY AMGN COP JPM PFE HD CVX VZ XOM WMT MON PG BAC KO MMM GS UPS UTX and they are all down from the open.

RSI 2 levels - high 70's on the SPX and mid 90's on the outperforming NAZ/NDX.

RUT also a winning sector with a reading of 94.

I suspect we get the usual afternoon ramp and I am sitting on my hands waiting for a little PM fireworks.