CHANGING TIMES

Markets closed the day mixed with the NAZ higher and the SPX lower by a bit. The DJIA up 9 and unchanged.

Strong sectors- metals, semis, homies, insurance, brokers and tech while airlines, gaming, utils, trannies and energy lagged.

WINNERS- BIDU JNPR LVLT CSCO RIMM AAPL BRCM GS C XRX MS GOOG IBM ALL LKQX CEDC AZZ BABY MR LIFC GGB ITU AUY;

LOSERS- TITN NGS MXB SPN DSX CTRP ARGN S AES ETR AMGN CBS MRK WB WMB EXC MCD ATI ADSK LAMR LEAP NIHD UAUA AMLN FWLT;

VIX - up 4%;

TRIN- .83;

Up and Down volume about equal with low overall again at 1.4B;

Note the picture above where it shows pretty clearly the out performance since late last year of the SPX over the NDX- my guess is times they are a changing and the NDX/NAZ will start to have its way with the other major indexes. Note also XLK tech SPDR - down about 14% on the year and long XLK short SPY may be a pretty pretty good trade.

Also, note how the SPX had a big problem with the 50 SMA - it may get through it on a gap higher but in the mean time- I will be watching.