6.28.2007

THE CLOSE


Markets closed near the unchanged line after chopping around higher most of the day. The DJIA closed -5, NAZ +3 and SPX -.5.


Strong sectors included airlines, metals, integrated oils, tech, gaming and financials; laggards included oil service, homies, semis, reits, internets and utilities.


Market internals closed green with a net 500 green on the NYSE and 100 net green on the NAZ.


The NDX/OEX both closed with a few more losers than winners.


Big winners included F CSCO GM T DELL ATI UAUA VRSN XMSR CSCO AKAM RIMM EDU SNHY CPLA CF CPA MTOX and AMZN.


Big losers included MTL PCR CMCO FCSX S NSM SLB BMY BNI BBBY NTAP PTEN PAYX BRCM GRMN and MCHP.


Volatility indexes also closed near the unchanged line.


Stocks trading at low 2 day RSI's include:


S LINTA SEPR CAT XRX CNA AIG DOW SYNL AVT VLO NFX CROX BX and DXPE.


High readings include:


CPLA FLIR SNDA DECK OPY VRSN CSCO INTU GM.


Tomorrow is Friday and I expect more chop and maybe some jig higher next week as folks invest for the second half.

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