CLOSING RED

I didn't get my green close but good enough as I suspect an intermediate bottom is in at SPX 1,380 as we close 23 points off the low. Of course no guarantees but the chart looks ok to me.

Strongest sectors included gaming, oils, software, utilities, homies and defense. Weak were silvers, biotechs, metals, semis, drugs, retail, brokers, airlines, financials and internets.

Market internals flipped back to bearish as a net 750 red on NYSE and about 1,000 net red on the NAZ.

NDX had 23 green; OEX 35 and SPX 170.

Best major index was the MID followed by OEX/DJIA/SPX big caps as the small caps and NAZ lagged.

Best performing stocks included DISH LBTYA AAPL ORCL SNDK S C DELL MS and AEP.

Worst were AMGN LTD F NSM ATI ABT INTC DOW AMLN SPLS and LVLT.

Volatility indexes also way off their highs with the VIX/VXO combo up about 2% on the day and now trading 30% above their 10 day SMA's. How much money will be made when/if the VIX/VXO return to a single digit handle?