THE CLOSE

Markets close higher on the heels of some good news out of the financials sector (buybacks). The DJIA closed up 286, the NAZ +36 and the SPX +34 but don't look at those market internals, the NYSE had about 225 more winners than losers and the NAZ with 170 more LOSERS than winners. Friday, there were about 4,000 more losers than winners on both exchanges. Let the excitement CNBC excitement begin.

Strong sectors included brokers, gaming, banks, utilities, large cap value, real estate, biotechs and drugs while airlines, metals and oils lagged.

Winners inlcuded INTU VRTX JNPR WYNN FAST ERTS PAYX WFMI MER USB WFC C MS RF ALL GMCR DECK WRNC HURC HURN VSEA GES and TRAK.

Losers- OPY PCR SPEC BTJ DRC WMB AES AA EMC IP NSC TWX SLB BMET TLAB UAUA MNST SEPR LVLT IACI and BEAS.

DJIA with all winners except for AA;

The OEX with 80 up and 20 down while the NDX almost as good with 75 up and 25 down;

Volume was heavy with about 1.7B up and .7 B down;

Vix down 9% and VXO down 18.5%;

The SPX regained the 200 day SMA and is only about 47 points below the 50 day SMA;

The DJIA bumping up against the 50 day - only about 90 points below;

And you haven't seen the links via Adam, check it out as Cramer goes from meaningless to Armegeddon. If we are real lucky, maybe he will update us on his DJIA forecast for the year and his favorite growth stocks NYX- hard to have picked something much worse.

Not expecting much from the markets as the Fed probably gets sold tomorrow - folks probably going to be disappointed regardless of what they say.