MORNING RIP

Equities open strong on the heels of higher prices across the pond and a dropping dollar.

SPX + 18- NAZ +37 and the DJIA +153;

Strongest sectors include metals, energy, emerging markets, small caps and airlines while junk, gaming, brokers and biotech lag.

NYSE- 2150 net winners;

NAZ- 1500 net winners;

NDX- 95 GREEN;

SPX- 477 GREEN;

VIX- lower by 3.4% at 21.45 and about 5% under the SMA 10;

TRIN- .53 with up volume about 12x the down;

Gold up about $20 at $1171;

The dollar is clearly the driver of equities and it is again bouncing off the 75 level which has been recent support- so watch that line as any dip below may prove to be a real problem for the dollar - as again old support becomes resistance.

RSI 2 levels on major indexes as follows:

SPX 77;

NDX 71

DJIA 83

RUT 76

XLE 68

XLF 71