THE CLOSE

Markets closed at/near the highs with the DJIA +177, NAZ +24 and SPX +23 and a hair over the 1,350 level. John Bollinger seemed longer term bullish and he is one of the best at the game. We will see.

Strongest sectors- homies, brokers, banks, airlines, real estate and insurance while internets and MOO finished lower.

Key stocks - 27 out of 40 higher led by WYNN POT CELG MER BAC TIF BG C GRMN CAT and ISRG- laggards- MCD ICE MA AMZN BIDU VMW GOOG DECK NVDA CME MSFT and AAPL;

NYSE- 1760 net winners;

NAZ- 900 net winners;

NDX-70WINNERS;

OEX-88 WINNERS;

IBD 100- 78 WINNERS;

VIX- down about 5% and trading near the 10 SMA;

Up volume 7X Down volume;

TRIN- .52;

New Highs- 31 on NYSE+NAZ

New Lows- 114 on NYSE+NAZ

It was a buy the dip day despite the crummy performance from big cap tech (HHH AAPL GOOG CSCO MSFT all lower) as the DJIA/SPX /RUT /MID were the market leaders with NAZ/NDX laggging. Value was also way better than growth despite what one may hear on the tube.

Not really sure what tomorrow may bring although selling here by short term traders is probably the way as the trend is down until it isn't and we are still way below the important moving averages. Also RSI (2) levels a bit extended again:

SPX 70

DJIA 70

RUT 84

MID 84

QQQQ 50

COMPQ 64