CLOSING NOTES

Markets closed higher as the DJIA closed +26, NAZ Comp +4 and SPX +3. Tech and brokers led the inter day flip higher although the SEMIS and the NAZ lost some of the early day momentum. INTC had an interday flip red and has led the SMH group lower from the midday highs.

Strongest sectors were gaming (LVS WYNN MGM), brokers (GS MER MS), software, defense, silver, small caps and biotech. To the downside, homies, drugs, internets, oils and utilities.

GOOG, a recent winner is down about $4 as it moves opposite big cap tech. GS is up almost $4.5 as folks just seem to like the way it coins money.

Internals on the NDX closed with about 55/45 higher to lower; OEX almost 70/30 higher to lower and SPX 500 about 300 up and 200 down. So an overall flip from NAZ beating SPX to the reverse into the close.

The VIX/VXO pair have closed near the unchanged levels after trading considerably higher earlier. They are still overbought but no longer at buy signals.

The DJIA has also shaken off some of its oversold condition and now trades at a 2 day RSI near 40 although I suspect higher before lower.