THE CLOSE

Markets closed near the highs of the day with the DJIA regaining about half of yesterday's triple digit loss. The NAZ/SPX didn't do quite a well.

Strong sectors included trannies, drugs, biotechs, internets, consumers and large cap value while oil service, metals, reits, gaming and airlines lagged.

Winners included CME ICE NMX NYX RIMM GOOG AMZN AKAM TGT SGP AMGN CELG DNA SYK LVS CTSH BEAS SYMC CTXS JNPR BNI BDK BAX DRYS SPTN CNH MTL ELP TBSI and WBD.

Losers- MRVL INFY F INTC GM HAL COF SPAN DECK CAE FSTR DWSN SYNL FTK FCSX CPLA and TLVT.

Of note:

All the drug stocks on my screen were green led by SGP JNJ and PPH;

Biotech also all green with DNA beating estimates in the after hours- AMGN BIIB GENZ all acting well on the day;

Oil service generally down on the day as OIH DO HAL all red;

Volatility indexes down about 5% but still above 10 day SMA flat line;

As of now, the SPX seems to be contained within the 1,490 on the bottom and 1,540 on the top range. So I will be looking to sell into further strength near the top. Always.