CUCKOO

The markets close near the highs as the manic action continues.

Lots of sell signals as the SPY DIA QQQQ SMH all trade at 2 day RSI's over 90. My guess is end of the month mark ups kicked in on the FED minutes news and the drip lower in the bond yields.

Tomorrow brings news from the oil patch and Thursday has a look at the retail sales numbers so more excitement definitely before the long weekend.

Sectors up the most today were internets, semis, oil services, small caps, techs and airlines. Bottom groups still include financials, GOOG, APPL, trannies and metals.

Market internals flipped bullish on the FED MINUTE news as approximately 2,100 more issues were higher than lower. Remember, the name of the game is to buy lower and sell higher, not to buy higher and sell even higher, that is a low odds game.