THE CLOSE

Markets close mixed as the OEX/SPX big caps were the market leaders and the RUT and the NDX were the biggest losers.

Strongest sectors included oils, metals, brokers, utilities, drugs and financials; leading lower were real estate, homies, retail, trannies and airlines.

Big winners included INFY GRMN MICC CELG RIMM PCAR BUD EXC ETR SLB LEH MS MRK BHI FCSX BCSI IDSA SPSS EDU TLVT and SYNL.

Biggest losers- SRSL X DSX TBSI STLD RRST AAPL EML ATI RTN BDK IP WY AMZN VRTX UAUA and QCOM.

Market internals closed with about 400 more loser than winners on the NYSE/NAZ.

The NDX/OEX internals were better than the over all market and closed with more winners than losers.

Volatility indexes about flat.

Low 2 day RSI's include VRTX TLAB BDK and DIS.

Lousy action in the new horsemen did not help the tech heavy NAZ as AAPL (-3.5%), AMZN (-3%) and GOOG were all lower (-1%) while RIMM was higher by about 1.5%. And yes, the top tick on the AAPL chart, Thursday AM when Cramer made his prescient call.

The yield on the 10 year has been holding near the 5.135% number as utilities have been one of the strongest sectors perhaps indicating rates have put in a temporary top. Utes were the first sign of the rise in rates few weeks ago.

Markets seem to be consolidating and I expect another leg higher to the middle of the recent range near 1,520 on the SPX. However, a move back under 1,490 could lead to a big downside (50 day SMA).