THE CLOSE

Markets finish the day a bit off the highs except for the IWM which closed at the high of the day.

The IWM was the best performing major index even though the DJIA and SPX did very well.

Market internals were very bullish from the get go closing with about 3,000 more winners than losers.

The NDX closed a bit off their highs as the SMH ran into a problem again at the $35 area.

Strongest sectors were gaming, brokers (GS over $200 again), semis, airlines, small caps, metals, financials and tech. Worst performers were drugs and oils although off their lows.

With healthcare being Jimmy's favorite sector, isn't it interesting that the only 2 losers on the DJIA were PFE and MRK. Also check the action in the gaming stocks including my favorite, MGM +5.5% today.

The VIX closed the day down about 3.5% to a bit above 11. The markets may have more to go as the VIX recently hit a low just above 9 so a move back down to those levels means higher prices for equities.

The 2 day RSI for the SPX is back to 85 and we know that has recently been over 99, so maybe we go a bit higher as the we are now above the important 1,407 level.