THE CLOSE

Markets closed at/near the highs as the early morning weakness and over bought conditions were shrugged off by the dip buyers.

Strongest sectors included oils, homies, retail, gaming, mid caps, large cap growth and tech; lower were airlines, bio, trannies, metals, brokers, banks and drugs.

Big winners included WMT SLG ICE NYX BOT AAPL GOOG SNDK GE OIH CAM DVN APC XTO MGM EWA BHI SLB S HAL HD CDNS CTAS ISRG TLAB and AMZN.

IBD 100 had about 3/2 winners to losers with EML SNHY TBSI SYNL WRNC DWSN the winners while ARGN SIMO VIP TTEC TWIN and EDU the biggest losers.

VRTX and MRK with 2 day RSI readings of about 1.

Market internals were fair on the NYSE with 450 more winners than losers while flat on the NAZ.

The OEX internals were about flat while the NDX was about 3/2 green to red.

Volatility indexes were higher and trade near their 10 day SMA's.

The OIH is trading near the $175 level and many of the components are still cheap IMVHO; we may find the $200 level the next stop before Q4 as it is up about 25% for the year.