CLOSING GENIUS

The DJIA closed the day 28 points below the 14k level and + 21 on the day while the NAZ was +15 and the SPX FLAT.

In addition, another typical CNBC day as they accentuate the positive and refuse to pay attention to any negatives that may be staring them squarely in the face. I guess its bad for ratings to mention stuff that isn't bullish.

Not less than 3 times did I hear how terrific MER earnings were and how that was helping the markets never mentioning that MER as well as GS and BSC were all red on the day.

Of course numerous times they mentioned the strength of the big caps without mentioning that the RUT/MID/NDX group were all out performing the OEX/SPX/DJIA trio.

And the internals, never mentioned how the NYSE internals started the day nicely green but worsened all day and finally closed with 500 more losers than winners; and down volume trouncing down up volume 581m to 825m. All the above lost by the CNBC genius journalists and producers. Details details details.

Strong sectors included semis, defense, internets, tech, banks and trannies while oils, reits, real estate, drugs, retail and biotech were all weak.

Big winners included LRCX KLAC AMAT SNDK NTAP AXP DD CSC WY DOW DRYS VCLK FCSX TBSI TLVT and NMX.

Big losers included MTOX WNR BTJ ALY FTK RF JNJ CPB MER COP GRMN VRSN SEPR JOYG and ATVI.

OEX internals 43 green 57 red - not so great for big caps.

NDX internals 67 green 33 red as tech was the strongest area of the markets.

Volatility indexes up a hair and trading near the 10 day SMA;

Of note:

Retail was terrible-

Metals were ugly-

Brokers mainly red-

Biotech drugs and consumers mainly red-

Oils red-

Markets are over bought trading at high 2 day RSI readings and the tag today of 14k may signal a short term top.