THE NICE CLOSE

There we have it, a higher close on the DJIA by 138, NAZ +42 and SPX +18 leaving 1,540 in the rear view mirror and about 25 points off the all time high. Surprisingly, MID's were the best performers on the day followed by the NAZ/NDX with the BIG CAPS being the laggards.

Strongest sectors- metals, china, oils, emerging markets, brokers and real estate while gaming, airlines and homies were in the red.

Key stocks- 32 out of 40 in the green led by MA MTW POT ICE VMW MSFT and GS while GRMN WYNN OVS UA DECK were the biggest losers.

NYSE - 1525 net green;
NAZ -910 net green;
NDX 80 WINNERS;
OEX 90 WINNERS;
IBD 100-80 WINNERS;
IBD 20- 100% GREEN;

Biggest winners- MICC APOL ADSK PTEN IACI NXY MSFT LEH GS COP MS MA EXM SNP DSX DRYS BTJ HDB OII;

Biggest losers- HURN GRMN WX ARGN FTK VIP TGT TYC C WMT BAX WB BUD WYNN AMLN JAVA XMSR AKAM VRSN EBAY;

VIX - down 12% and yikes - 10% under the 10 day SMA- first time in quite a while;

Up volume almost 4x down volume;


Two day RSI's:

SPX 81
DJIA 81
MID 85
RUT 78
NDX 94

So short term indicators on the overbought side and look at the DJIA -13,930 and 70 points from the 14k round number which has been a sell level on prior occasions. However, keep in mind that we are now at a seasonal strong period and the first few days of a month usually means higher prices as new money comes in for retirement funds etc.