ANOTHER SHOCKER

Looks like I was wrong again as the markets managed some afternoon jig as the NAZ came all the way from -15 to +6. Market internals also improved all day and finished at +620.

SPX 1,300 back in the rear view mirror and Monday's action should be interesting. I am looking for an early morning high and then selloff. That is out on a limb but it is my thought for now.

Winning sectors included oils, internets, techs and small caps; losers included brokers, GOOG, trannies, airlines and retailers.


Also note how the SMH came back after being way down at the open on the heels of DELL and AMD. DIA owners, be aware that the ETF went ex today with a 25 cent dividend.

Volatility indexes smacked again and now close to 20% below their respective 10 day SMA's. Please keep the longs on a tight leash as sell signals abound in this strongly upward trending market.

And great job by the yanks so far, and if they win this one all they really need is one out of the next four.