FINAL 2007 CLOSE

Markets closed lower despite a higher close by financials and flat internals. The DJIA -101, NAZ -22 and SPX -10.

Strongest sectors were homies, real estate, brokers, banks, insurance and retail- leading lower were telecom, oils, internets, trannies and drugs.

NYSE- 160 net losers;

NAZ-200 net losers;

NDX -20 WINNERS;

OEX-20 WINNERS;

IBD 100-30 WINNERS;

VIX higher by 8% and near BUY signal territory;

RSI (2) levels on most indexes in the mid teen levels and near BUY signal territory;

Not sure what happened to the rally in the final few moments of trading but straight down- maybe the last of the tax loss selling although almost all the banks, brokers and real estate stocks I follow closed green. Tech notably ugly as almost all finished in the red.

Finally for 2007, the DJIA closed the year +6.4%, SPX +3.5% and NAZ +9.8%. I will update all the sectors followed before the markets reopen on Wednesday and a Happy and prosperous New Year to all readers.