THE CLOSE

Major market indexes closed in the green but looks are a bit deceiving. The RUT closed flat while the MIDs closed lower.

Strong sectors included internets, biotechs, oil, oil service, defense, retail, large caps and drugs; lower were metals, airlines, homies, trannies and reits.

Big winners included AMZN VRTX AMLN GENZ BIIB JNPR GRMN MRK PEP GD BA COP T GS UPS XOM SLB NOV EDU BIDU SII and PVG.

Big losers - PCR SNHY TWIN HDNG FSTR BTJ HURN CNH DRYS XRX F BAX IP EXC GM NSC CAT JOYG PCAR CHRW MICC TLAB and PTEN.

Market internals much worse than the big indexes as the NYSE closed with 620 more losers than winners while the NAZ was a hair better with only 270 net losers.

OEX with almost 60 up to 40 down while the NDX was far worse at 45 up and 55 down.

Volatility indexes lower but not a big move as the VIX loses 2.5% and the VXO 4%. Both still over 110% of their respective 10 day SMA's which is probably indicating yet more upside to come in the major indexes.

More stuff:

Ag stocks crushed led lower by AGU CAT CNH IR MON MTW and POT;

Banks and brokers better today with GS outperforming and BSC CME ICE LM NMX under performing;

Biotechs act well led by BIIB CELG DNA GENZ and AMGN;

Gaming a mixed bag with LVS up and MGM down again (reversion to the mean);

Metals generally crushed with BHP flat;

Oils generally higher with refiners lagging and red again;

Tech mixed with AAPL AKAM AMAT AMZN CSCO EBAY IBM RIMM SNDK TXN green and BRCM GOOG HPQ INTC MSFT NVDA YHOO red;

Trannies red with the exception of UPS and YRCW;

Some 2 day RSI's:

SPX 36

DJIA 43

RUT 10

MID 3

QQQQ 23

IWM 2

COMPQ 27