Equity indexes are trading near the flat line but the internals are painting a bit of a different story as the SPX has 155 green, NDX 48 green and the NYSE with 885 net losers.
Strong sectors- gaming, airlines, metals and reits while homies, internets, retail and semis lag.
Winners- PEP S COP AAPL ALL ABT KO COST BAX FSLR WYNN VRTX ILMN WCRX BIDU GOOG;
Losers- GRMN EXPE JOYG QCOM CMCSA APOL RIMM GE XRX DOW HAL WY BA BHI COF;
VIX flat at 28.2 and about 11% above the SMA 10.
Gold up a bit at 103+.
The dollar down .3% while the EURO is flat at 1.46.
EWZ looking good and up more than 2% as most are now expecting that RIO will get the games- could be a nice boon to the Brazil markets - so you know.
RSI 2 levels - still way oversold and between 5 and 7 on major indexes except for the NDX which is all the way up to 12 on this bounce.
Probably more chop into the close and note Doug Kass was expanding his shorts into the morning strength. OK we will see.