CLOSING JITTERS

A weird weird day in the markets as the DJIA closed +37, SPX -2 and NAZ -21; the RUT even worse than the NAZ down 8 or 1%.

So how good or bad was it? Well- Upvol on the NYSE 665

Dnvol on the NYSE 951

Gaining issues on the NDX 18 with 72 losers;

The OEX/SPX were evenly split between winners and losers;

IBD 100 30 green to 70 red;

The NYSE had 775 net red while the NAZ had over 1,250 net red;

Pretty clear that the average stock did much worse than the big major market indexes.

Strong sectors included banks, metals, oils utilities and trannies while big cap biotech, airlines, internets, brokers, semis, tech, retail software and samll cap value lagged.

Big winners- MTOX MTL BW DXPE MT CHN SSYS GM AA F JPM VZ NSC BNI MMM VRTX MNST JOYG and ESRX.

Big losers- AKAM AMGN NTAP DELL MXIM LTD DELL BDK MS S HD JNJ WY MDT TXN and MER.

Conspicuous by their poor performance of late are the brokers and the xchanges. GS MS MER GLEH BSC CME NYX ICE BOT NMX all down big with NYX NMX BSC and MS the worst and down more than 1% each.

Volatility indexes a mixed bag with the VIX +1.6% and the VXO -.9% and both trade at/near 7% above their respective SMA's.

Well where from here? We may see more downward action but I still expect new SPX highs and I will be adding when/if the SPX gets to the single digit 2 day RSI levels and /or the VIX/VXO gets to overbought levels.