Technology and Telecomm Sectors Fueling Afternoon Rally

All major U.S. Indexes, which had been notably down earlier in the morning, have reversed course and have either moved into positive territory, or are very close to doing so.

The S&P 500 (SPX), which had traded down to as low as 1,234.56, is currently up 1.23 points to 1,255.28. The Dow Jones Industrial Average ($DJI), which had traded as low 11,701.63, is currently down 6.4 points to 11,862.45. The NASDAQ Composite (COMP), which had traded down to as low as 2,621.81, is currently up 15.01 points (0.5%) to 2,684.25, and is the strongest area of the market.

The move is being led by the S&P Technology and Telecomm Sectors, which are currently up 0.6% and 0.5% respectively.

The S&P Technology Sector is the only segment of the index that has shown a gain over the past 30 days, albeit a paltry 0.2%.

The strongest performing stocks in the S&P 500 Technology Sector in today's session are:

1) Lexmark International (NYSE: LXK): Shares of Lexmark are currently trading up 5.5% from yesterday's close to $34.37.

2) Tellabs (NASDAQ: TLAB): Shares of Tellabs are currently trading up 4.7% from yesterday's close to $4.04.

3) Sandisk (NASDAQ: SNDK): Shares of Sandisk are currently trading up 4.1% from yesterday's close to $42.35.

4) F5 Networks (NASDAQ: FFIV): Shares of F5 are currently trading up 3.6% from yesterday's close to $93.47.

5) Motorola Mobility (NYSE: MMI): Shares of Motorola Mobility are currently trading up 3.5% from yesterday's close to $22.10.

Weakness in the Sector: The following stocks are showing signs of weakness in today's action, despite positive overall sector performance:

1) Micron Technology (NASDAQ: MU): Shares of Micron are currently trading down 1.6% from yesterday's close to $6.93.

2) Cerner (NASDAQ: CERN): Shares of Cerner are currently trading down 1.3% from yesterday's close to $63.63.

3) Computer Sciences Corp. (NYSE: CSC): Shares of Computer Sciences are currently trading down 1.1% from yesterday's close to $33.62.

The strongest stocks in the S&P Telecomm Sector currently are:

1) American Tower (NYSE: AMT): Shares of American Tower are currently trading up 5.7% from yesterday's close to $53.38.

2) Sprint Nextel (NYSE: S): Shares of Sprint are currently trading up 1.5% from yesterday's close to $4.06.

3) Verizon Communications (NYSE: VZ): Shares of Verizon are currently trading up 0.8% from yesterday's close to $35.78.

4) AT&T (NYSE: T): Shares of AT&T are currently trading up 0.7% from yesterday's close to $29.39.