THE CLOSE

Another day where the markets closed not far from where they opened with market internals basically flat on the day.

Leading sectors were oils, biotechs, metals and techs with losers being financials, internets and airlines.

Big Bob Pisani constantly talking about the recent big cap outperformance and he is right. Take note of these index returns from May 1:

SPX 1305-1295

RUT 761-699

QQQQ 41.44-38.32

COMPQ 2305-2140

DJIA 11,343-11284

See anything standing out? Yes, they are all lower with the big caps doing less bad. Anyhow, more bad news, check out the charts of the BROKERS XBD and BANKS BKX (blogger refuses to allow me to upload). Pretty ugly and I am quite surprised Bob doesn't mention how poorly the financials are fairing in light of the performance of the major market indexes. Bad news does not sell all that well on CNBC as they always try to find a silver lining. Note today how they even mentioned the outperformance of the OEX a large cap index I have not heard them mention in years. Whichever index is going well will be sure to get a mention on CNBC.

Just remember, if the Banks and Brokers aren't going higher, the major indexes are not going higher either.