THE MATH

Markets continue higher in the mid day trade but are getting a bit over bought as evidenced by the VIX/VXO stretch and the 2 day RSI numbers.

The VIX/VXO are both about 8% under the 10 day SMA and I suggest anyone who is long such as those that bought near the financial bottom, trail those stops as I suspect there will be better entry points shortly.

Two day RSI on major market indexes, stocks and ETF's as follows:

SPX 89

DJIA 80

RUT 90

OEX 85

NDX 92

MID 94 (leading)

SMH 61 (lagging)

IAI 91

OIH 33 (lagging)

HHH 93 (leading)

GS 77

BX 100

CME 8.3

NYX 89

LVS 41

MGM 61

WYNN 38

BAM 88

SHLD 100

COST 99

GES 97

WFMI 99

RIMM 98

SNDK 3

YHOO 97

GOOG 86