THE CLOSE

Markets close near the unchanged line and bounce off their mid day lows and ignore the hawkish fed speak. This action is bullish in my view especially in light of the IWM, the best acting major market index of the day.

Internets and AAPL also acting bullish as they were the best performing sectors of the day along with homies, nat gas, oils, drugs, some tech and bio. Worst sectors were retail KLAC and DNA with the SMH selling off in the after markets.

Market internals also closed well with 850 more winning issues than losers.

Some of my long term holds including XTO VLO FTO XLE all acting well on the heels of new hurricane Debbie. I guess in hurricane season we are due to get at least one storm.