THE CLOSE

Major indexes close near the unchanged level with the exception, the "tech heavy" NAZ which closed up about 1/2%.

Winning sectors included airlines, SOX/SEMIS, tech, metals, retail, trannies and brokers. To the downside, oils, biotechs and drugs.

Market internals close with about 400 more winners than losers evenly split between NYSE and NAZ.

In addition to tech and the NAZ, the small caps were the best performing major market index as the IWM closed the day up about .5%.

Back at the DJIA, VZ WMT and MRK were the worst of the thirty while GM HPQ UTX and MCD did the best.

VXO unchanged on the day with the VIX up 4% or 45 ticks, but still no buy or sell signals as they both trade at/near their 10 day SMA's.

Tomorrow brings the last day of the month and generally the "no markups allowed" sign is on the door so I don't expect much upside momentum. Then, the beginning of the month and new money may appear to spur the averages to new highs.

A few bothersome things today, oil sold off hard and the yield on the 10 year Bond backed down to a 4.67% rate; if the markets can't rally on this news, hmmmmmm.

Anyhow, as a general rule, November and December are strong months but this year has seen the calendar turned upside down as August and September are typically lousy but hardly the case this year.