THE CLOSE

Markets closed the day higher led by Mids and Small Caps. DJIA +.25%, NAZ +.4%, SPX +.4%, MIDS +.83% and RUT+.6%.

Strongest sectors were oil service, homies, emerging markets, oil, metals, brokers, real estate and gaming while utils, retail, biotech and airlines were the worst groups.

NYSE internals+1125

NAZ internals +500

OEX /NDX 60 GREEN;

VIX down by 3.5% and trading more than 15% under the 10 day SMA;

Key stocks/etf's in the Green- AAPL BAC BAM BIDU C CME COST CROX GE GS IBB IBM ICE JPM MO MS NYX RIMM SMH WFC XOM;

Key stocks/etf's in the Red- AMZN CELG GOOG MGM MER XLK INTC MSFT YHOO;

Big Winners- MS NXY SLB WY LEH COF AVP WMB AA CPB DISH WYNN RYAAY DISCA MXIM GRMN LINTA JNPR INFY LAMR ACM SNHY DRYS GPOR EXM MTL RIO WHQ SID MA;

Big Losers- WNR GME GMCR VSEC STP CPLA PKX AFSI CTRP TKC VSEA F GM TYC EXC CSC CMCSA MCD TGT DIS HD MRK DELL AKAM PAYX CTAS SBUX XMSR MRVL BBBY BIIB PETM;

Funny how yesterday bubblevisionites was so excited about the great news out of GM and BSC. Today Maria is wondering who put out the report on BSC and how bad it was since the stock is down today- huh. And yikes GM trades down 3% after all of yesterday's excitement. Quintessential traders at CNBC.

Anyhow, the math:

Two day RSI's on key indexes:

SPX-88

OEX -90

DJIA 91

RUT 82

MID 90

NDX 98

COMPQ 96

So pretty over bought numbers on the major indexes and when you lump them in with way oversold VOL indexes market probably has a hard time making any upward move over the next few days. No mark ups tomorrow as it is illegal and next week should be interesting as I await the big pullback (big overhead resistance between 1540/1550 on SPX) before the next leg up.