CLOSING THOUGHTS

Markets closed at their highs with the internals on the NDX/OEX giving the tell that higher prices were coming despite the mid day pull back.

The NDX closed with 87 winners and the OEX better yet with 96 issues in the green. The NYSE/NAZ number was +3,200 and also way green all day.

Strongest sectors included oils, brokers, reits, utilities, defense, semis, financials and trannies; lower were airlines and interest rates.

Green stocks included TBSI FCSX FTK BTJ CF DXPE NOV CNH CPA SSYS CTSH JOYG AMAT ADBE AKAM PCAR WMB TXN AA MER MS GS SLB MMM LEH and HAL.

Losers included HURN PTNR HDNG GSOL AAPL NSM DIS CI ATVI LVLT LAMR DISH SEPR LVS IBN NDAQ ICE and AIB.

The large caps took the baton back from the small/mids into the final hour and now are heading to over bought territory with 2 day RSI's over 70. We know that they can and will again approach the 90 level but trailing them from here is probably a good idea as the DJIA is only 200 points from the all time high and the SPX about 25 off.

And how well has the 50 day SMA on the SPX worked as a back stop?