MORE RESILIENCE

Markets closed up on the day after bottoming in the morning trade but hardly a barnburner as the SPY was higher by 26 cents, DIA +26 cents, QQQQ+22 cents and the flight to quality trade, the IWM was higher by 53 cents or about double the big cappers.

The early hint that the market would try a move higher was the action in the SMH, which was higher from the get go. Other winning sectors included internets, retailers, airlines and trannies. The worst of the groups were metals, oils and biotechs.

No buy signals tonight as Volatility indexes and major market ETF's trade near the middle of their recent ranges.

Oil and metals sold off and if that continues tomorrow, I will be buying.