MARKETS CLOSE

The markets have closed slightly lower with the major averages being easily pushed around on this low volume day. Volume was about 900M on the NYSE which is a bit more than half the typical day's volume.

Sector leaders were metals, reits, biotech, drugs, integrated oil and semis. Leading lower were internets, utilities, oil service, retail and gaming.

The NDX closed with about 20 up and 80 down while the OEX 100 had about 40 higher and 60 lower. SPX about 150 up and 350 lower.


The trade of the day, the purchase of the DJIA Futures at the pivot point of 12,555. The market hit it and sat there and then took off back to the 12,600+ level giving all the buyers a nice end of year gift. Unfortunately, I was not one as the internals and the action in GOOG AAPL MS GS etc never convinced me the market was going to snap back.

Tomorrow may bring some interesting DJIA Futures trading as the price closed right near tomorrows pivot.