CLOSING AT THE HIGHS

Markets are closing at the highs is the good news, the bad news, on this day where the DJIA is closing +100, the internals are 400 to the green meaning ordinary stocks are barely participating. The DJIA shows 25 up and 5 down so this is plainly a blue chip rally that probably will not last. This is one reason to own index funds over individual stocks.

The sector winners were small caps, oils, metals and semis. Losers were the financials, internets and brokers.

Very appropriate that there is hardly a mention of the nonconfirming internals on taut tv.