MIXED CLOSE

Markets gyrated around most of the day but closed lower on the DJIA/ SPX but higher on the NAZ/NDX/RUT.

Airlines, reits, real estate, brokers, oils and gaming were the winning sectors while trannies, telecom, retail and utils were the biggest losers.

Key stocks mainly higher led by WYNN MA MS UA ICE AMZN NYX and GRMN- lower were CELG TIF MCD MER GE POT C KLAC.

Market internals were a bit red on the NYSE and FLAT on the NAZ- IBD 100 showed about 68 issues in the green;

VIX drifted lower by 4%+;

Up and Down volume roughly equal on light trading;

Gaming stocks got a bid on the heels of good news out of WYNN+5% /MGM+2.6% and ORCL seems to be reporting nice numbers after the bell.

Technically, SPX still sits above the 1,450 level with resistance at 1,465/1,475 area while the DJIA has resistance at the 200 SMA near 13,315. NDX also above support at 50% retracement near 2,025 with resistance near yesterday's high at 2,040.

Probably slow trading the rest of the weak and very slow through the end of the year as there are only a handful of days left to trade. The year end rally will probably have to wait until 2008.