CLOSING NOTES.

Markets closed near their highs as the NDX /Tech was the star of the day. Even Jimmy Cramer noticed and started to pump semis as they made 52 week highs.

Strong sectors included semis, oils, tech, trannies and mid caps; leading lower were reits and biotechs.

Big winners included NVDA SNDK MXIM LBTYA GRMN KLAC KFT WMB CVX BHI XOM COP ROK SNHY CF TBSI ACH SIMO HURN EDU and SNP.

BIG losers- BWLD FCSX HDNG PTNR AES TWX SBUX ESRX WFMI LEH AMGN SLG and GE.

Market internals were slightly green on the NYSE with 300 more green than red while the NAZ showed about 100 net green.

The NDX was 3/1 up to down while the OEX was not quite as good with 7 up to 3 down.

Volatility indexes closed down by about 3% and now trade at/near their 10 day SMA's.

The 10 year bond rate closed at about 5.163% and is still way off its recent high near the 5.32% level.

Major market indexes with 2 day RSI levels generally in the 50 range as the pinball game continues. Best is NDX while the worst is RUT 2K.

Other noteworthy items- OIH up $4 and back near the $180 level after an ugly smack down yesterday; also doing well in the oil patch were DO FTO HOC HP RIG TSO VLO and XOM;

after recent lousy action in the brokers, BSC and GS closed green while MER LEH MS were red.

Low 2 day RSI readings for:

SBUX CDNS MNST MER WMT CCU BW GES NDAQ NYX KMB BRK.A PWE;

High readings:

NVDA LVLT GM CMCSA CSC LTD COST QCOM Y UAUA.