CLOSING SUPPORT

Markets closed higher after bouncing around between up 100 and down 50 finally closing up 67. The SPX was down near 1,444 and closed up 7.5 near 1,459 and comfortably above the 1,450 support line.

Strong sectors- oils, internets, metals, emerging markets, tech, gaming and drugs;

Weak sectors- homies, airlines, real estate, trannies, brokers and banks;

Key stocks- 27 out of 40 in the green led by GRMN RIMM LVS VMW POT WYNN UA BG NVDA and MCD; LOSERS- BIDU MER C MS KLAC GS ISRG CAT TIF INTC and SMH;

Market internals- NYSE-350 net red- NAZ-220 net red;

NDX 55 GREEN;

OEX 57 GREEN;

IBD 100- 72 GREEN;

WINNERS- BPHX FMCN STP SDA GSOL PDA GRMN LVLT VRSN EXPE YHOO RIMM APOL HPQ QVP MMM NXY CSCO ATI SLB ORCL;

LOSERS- FDX EK GM WFC MER TGT HON CCU WB UPS C KOP GLNG BIDU CMG FSTR ININ MDR SNHY CHL YGE GME SBUX ATVI NTAP XMSR ADSK SEPR;

VIX down 2.57 points at 25.5 and oversold /a few % under the 10 day SMA;

The key technical levels held at the close yet again as the SPX finished above 1,450; the NDX closed nicely above the 2,025 level and IWM above 76 (CLICK ON CHART). I suspect next week will be a bit better for equities as we come to an even more seasonally strong time for equities.

RSI (2) on major indexes/ETF's:

SPX-48

DJIA 53

NDX 63

COMPQ 53

IWM 18

OIH 58

XLE 59