HIGHER CLOSE

Markets closed the day higher with a break above the 1,440 level and that area may provide some support for now. Fly in the ointment, oversold volatility indexes as they trade between 5 and 8% below their respective 10 day SMA's. The 2 day RSI's also at/above the 95 level on SPX/DJIA/NDX so churning or a little pull back here would not be surprising.

Strong sectors included biotechs, airlines, homies, drugs, internets, trannies and oils. Laggards included metals, real estate and some gaming. Notable absent from the rising market was GS which all of a sudden has lost its market leading status.

Market internals were fairly strong most of the day with the NYSE closing with 700 more green than red while the NAZ had about 300 more green than red.

OEX/SPX/NDX all at least 3/2 ups to downs.

Big winners included NVDA CELG VRTX PTEN EXPE BEAS AMGN JOYG MFW BLUD GROW AFT and AFAM.

Losers included CUTR CYNO LHCG RVSN UUU DXPE DWSN TZOO RK MU MNST TIN UNM and SWY.

Enjoy the long weekend and look for choppy trading next week.