MARKET MOVES

Equity markets are trading near the flat line in an uneventful session unless one is involved with the metals.

SPX +2, NAZ +3.5 and DJIA +26.

Strongest sectors- nat gas, oil service, semis, retail, small caps and defense while gaming, metals, airlines, brokers and reits lag.

NYSE- 600 net winners;

NAZ- 275 net winners;

SPX - 320 up and 175 down.

NDX- 67 GREEN;

OEX- 60 GREEN;

TRIN- 1.37 with up and down volume about equal-

RSI 2 levels near 70 on most major indexes.

Markets just look to be bouncing around and don't really have a good feel for direction- the dollar is again heading lower but gold isn't moving up so nothing clear to me today.

Jeff Saut - who has been great on the rally - getting a tad nervous;

FORBES on US home prices;

TRADER MIKE and his take;