Markets closed at their highs after giving dip buyers ample opportunity to buy earlier in the morning.
The drugs, metals, gaming, internets, banks and small caps led the way higher while semis, retail, homies and trannies led the way lower.
Big winners included MNST DELL FAST AMLN AMGN CSCO CTSH INFY EBAY MRK BMY GM EMC MCD and ABT.
The losers- LTD BNI F TFT ROK GD NSC FDX IBM VRTX AAPL ADBE KLAC AMAT ADSK and ROST.
Market internals gathered steam for most of the day and closed with 675 net green on the NYSE and 725 net green on the NAZ. Both the OEX/NDX closed with about 60/40 up to down ratios while the SPX was near break even.
The DJIA poked its head above recent resistance at the 12,600 level and now trades about 180 points below its all time high and with a 2 day RSI of 82.
I suspect next week will be the key tell as decent earnings/guidance will get us past the DJIA all time high. However, if the bank numbers underwhelm with substantial non performing loan issues, it could be a completely different story.