THE CLOSE

Another good day for the bulls as the IWM was again the standout performer followed by the NAZ. Markets hit their highs near the 2:00 EST hour when the FOMC docs came out and slowly drifted lower into the close.

Sector winners included airlines, metals, trannies, internets, biotechs, brokers and small caps. Losers included gaming and financials.

Market internals held well ending with 1,500 more winners than losers.

DJIA winners included INTC CAT BA MO PFE and AIG- To the dowside were HPQ T VZ JPM HD C MCD and MSFT.

GS, my main tell, was over $194 for much of the day and if the markets hold together, I expect a $200 handle some time before the end of the month.

The SPX closed with a 2 day RSI of 95 and the IWM a 97; They both can and probably will go higher but I expect a breather on both for the rest of the week.

Tech took a little breather today as the SMH was all over the chart; probably the pause that refreshes and next week probably brings higher prices.