STRANGE RECAP

Markets seem a bit disjointed as the NAZ/NDX closed up over 1% while the DJIA/SPX/RUT/MID's all closed near the flat line with the DJIA ending lower after being up and down over 100 points on the day. Value stocks were the laggards again as both small and large cap value stocks closed in the red.

Strong sectors included Chinese stocks (FXI) which was up almost 10% and has doubled since the August lows, internets, semis, tech, airlines and trannies while metals, oil service, defense, homies, retail and utils lagged.

Key stocks - 29 up and 11 down led by NVDA INTC RIMM GOOG and KLAC while UA ISRG POT MA MER BG CAT BAM C all closed red;

Market internals were flat on NYSE/NAZ while NDX was a hair green and OEX flat; IBD 100 very strong with 2/3's of the stocks closing in the green.

Biggest winners included SNP LFC CHL TKC ANSS PDA GOOG CI JPM DELL MSFT HPQ KO YHOO EBAY INFY FLEX SNDK and MRVL;

A very strange day as the markets opened way up, went way down and closed near unchanged on the DJIA/SPX and up 29 on the NAZ. Even more interesting was the action in the VIX which was red as the DJIA was down 100 points. Not sure why but definitely odd.

Two day RSI numbers all over the board as the different sectors trade in their own separate way:

SPX 30

DJIA 12

NDX 75

COMPQ 67

LARGE VALUE 6

SMALL VALUE 6

RUT 27

MID 10

Final note, for now its all about tech and hopefully they eventually pull the rest of the market up.