HIGHER CLOSE

Markets closed at/near the highs of the day but have sold off in the after markets as AMZN reported earnings unfit for a member of the NDX.

Also trading down after the close, BRCM ALTR SVVS TRMB INFN PNRA JNPR and RFMD. Earnings/guidance a bit under whelming for now.

Strongest sectors were China, oil service, internets, emerging markets, metals and tech while semis, homies and utils lagged.

Market internals came on strong in the afternoon accelerating to +1140 on the NYSE and +620 on the NAZ. IBD 100 stocks were very strong all day with over 80 winners led by GSOL CNH CF BIDU HDB ARGN NOV WX and OII.

Tomorrow should be interesting as the market are now just a few SPX points from the middle of the recent range (1,530). Sell? Maybe through the end of October and then perhaps a nice move up to SPX 1600+ as a holiday gift.

VIX still over bought but only 1.5 points away from the 10 day SMA.

It will also be interesting to see if the metals/energy complex can continue upward movement in light of the recent pull back.