We are nearly two hours into the session and have a fairly quiet morning on our hands as most groups chop around the breakeven line. The biggest movers are on the downside with the SPDR Homebuilders (XHB), Regional Bank HOLDRS (RKH), and streetTRACKS Gold (GLD) the weakest areas. A look to the daily chart below shows the GLD is flirting with short-term resistance near 87.

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Chart Courtesy of Thomson Financial

Here are a few of the analyst upgrades and downgrades that I thought were worth noting this morning...

Upgrades
• Anadarko Petro (APC)
• California Pizza (CPKI)
• Fannie Mae (FNM)
• NYSE Euronext (NYX) [multiple]
• Sara Lee (SLE)
• Youbet.com (UBET)
Downgrades
• Ctrip.com (CTRP)
• Knight Capital Group (NITE)
• PetroChina (PTR)
• Sun Life (SLF)
• Sohu.com (SOHU)
• Aqua America (WTR)