The markets have turned into positive territory behind the strong Home Sales data. Volume has picked up slightly as traders feel more comfortable staking positions in light of the positively perceived release. Biotechs are particularly strong in early trade activity ( BTK +4.6%) as the index has pushed back above its 50 day moving average at 512 which served as upside resistance yesterday. Semiconductors continue to struggle however on the heels of cautious guidance last night from Applied Micro Circuits (AMCC -3.8%). DJTA +0.4%... DJUA +0.1%... SOX -0.6%... XOI +0.8%... BTK +4.7%... Nasdaq 100 +0.7%... S&P Midcap 400 +0.7%... Russell 2000 +0.6%... NYSE Adv/Dec 1443/1050... Nasdaq Adv/Dec 1585/1377.

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