Midday Market Check - Still Holding Gains

We head into the second half of the session with the market still holding some gains. The S&P 500 (SPX) staged a mid-morning bounce off the breakeven line and has been holding in positive territory ever since. Earlier we saw that the Oil Service HOLDRS (OIH) was the weakest area and that is still the case. The US Oil Fund (USO) and SPDR Homebuilders (XHB) are also relatively weak. The S&P Retail Index (RLX) remains the strongest group.

Chart Courtesy of Thomson Financial

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