THE CLOSE

An interesting day in the markets as the DJIA meandered in a "tight" 140 point range beween 13,185 and 13,315. The NDX was strong most of the day after a down opening and also traded in a fairly mild 40 point range.

Strong sectors included reits, real estate, biotechs, defense, biotechs, techs and semis while banks, trannies, brokers, utilities and small caps lagged.

Market internals closed with about 700 net losers on the NYSE and 540 net losers on the NAZ.

The NDX internals were green with a hair more than 5o green led by TLAB CELG XMSR BRCM BIIB SIRI ESRX and SNDK. Losers included WFMI SHLD LRCX BBBY EXPD INTY MRVL and XLNX.

OEX- About 20 green led by DELL CPB BAX HAL RTN HD IP INTC and MMM. Losers- WMT NSC MS NSM C EXC LTD MER WB AEP S CBS.

IBD 100 - Half green led by VIP MTL EXM LAYN TNE NVT ZUMZ- Losers- ACH BTJ MW GSOL GPOR TBSI CYNO AIRM.

Clearly a tech driven market although a little disconcerting that SMH, which rallied all morning closed essentially flat. Other techs also reversed and closed red including MSFT KLAC GOOG BIDU and AMZN.

Poor performance again from financials such as BEN MA MI MTB TROW GS LEH CME MS and NYX.

I would not take a whole lot from today's action as most are waiting for Big Ben and probably more volatility.