GREEN ON THE SCREEN

The bulls finally showed in the last hour and took the DJIA back to +48 and got the NAZ to the flat line. The semis continued to lag ending down about 1% and probably getting into buy territory as they never go much lower or much higher.

Strongest sectors - emerging markets, oils service, banks, drugs, real estate, large cap value, defense and utilities. Leading lower, semis, brokers, metals, internets, airlines and tech.

Key stocks generally flipped the switch back to green as MSFT INTC BSC GS MS CME ICE C MA BAC all ended up while NYX BOT MER SMH GOOG BIDU were red.

Strong big caps included S HAL ATI SLB MRK RF MEDI AES PDCO DISCA LAMR EXPE JOYG and PCAR.

Weak sisters included MXIM LLTC LRCX SNDK PAYX MRVL NVDA NSM CSCO MER GM TXN F DOW- any pattern there?

Market internals closed strong with a new 700 green on the NYSE and flattish on the NAZ.

The OEX green on 7 out of 10 while the NDX was flat. The SPX also closed nicely with 320 green to 180 red.

Volatility indexes a little lower but still trading in buy territory near 10% above their respective 10 day SMA's.

Oh and market commentary, I expect the bulls are not done yet as the price of crude will probably come in from here as traders take profits. In addition, would anyone be surprised if Iran and the Brits settled up and the hostages were released? Those two things could send the SPX back up near the 1,440 level.