All About the Close

There it is and the markets close near their highs of the day. The semiconductors, the oils and the small caps led the way. My trusty volatility indicators sold off hard but they are not yet telling me to sell stocks. I suspect we get that word tomorrow or friday. The DJIA closed +60 the Naz +33 and the SP500+10.5. Most of yesterdays losses have now been recovered. Note also the 4% gain in the SMH etf. That used to be a leading indicator. Not so sure anymore. One final note, Bob Pisani on CNBC looks very happy.