CLOSING THOUGHTS

I was out all of the afternoon on some unexpected errands but I was not surprised to see the sellers take control of the markets and fill the morning gaps.

The Russell 2000 and the rapidly deteriorating internals gave the game away in the late morning. Market internals did manage to close in the green after dipping into the red in the afternoon trade.

I suspect tormorow's trading will be interesting as lots of traders/momentum buyers own shares at higher prices.

All the pivot points should be in play tomorrow as major indexes closed a bit above the unchanged levels.

The oils got crushed further as cold weather is no where on the radar. If the XLE/OIH open lower tomorrow a short trade may be at hand as the dippers will probably try a quick flip.

SPX closed with about 270 winners and 230 losers while the NDX had about 57 to 43 winners to losers. SIRI XMSR TLAB CHRW and ROST the big NDX winners while JOYG PTEN AKAM ADBE INTU BEAS and SNDK were the losers.

SPX winners were WMT WY HD MED and LTD while losers were COP GM BHI SLE SLB and XOM. An obvious common theme among the loser.