CLOSING PRICES

Markets close near the lows as the DJIA was down 65, NAZ down 27 and the SPX lower by 13.

Anyone watching the markets today could tell you the major indexes were better than the average equity as there were about 4,000 more losers than winners.

Strongest sectors (although all lower) were banks, drugs, tech and defense. The weakest, reits, gaming, brokers, homies, metals, small cap value, silver stocks and emerging markets.

The NDX/OEX had 15 up and 85 down, while the SPX had about 60 up and 440 down.

The DJIA was the best of the indexes as it was only down .5% with 5 up and 25 down.

The IBD momentum stocks, yes also awful with 15 up and 85 down out of the elite 100.

And on today's crummy close, the VIX/VXO combo was up a whole 6% and trades back to the 135% of the 10 day SMA level.

Some good news, one of the market indicators that I track, the CHADTP, is about as oversold as it gets. The CHADTP is a short term moving average of the net advance / declince line that was concocted by Blake Hayward and Larry Conners of Trading Markets fame.