CLOSING LEVELS

There it was - another miserable day for the bulls as the big opening gap higher was filled and SPX 1,360 was clearly rejected yet again.

Brokers and Banks traded ugly from the open and gave a pretty good hint that the big open wouldn't hold. GS BSC LEH LM MER MS TROW CME ICE NYX NMX BAC C JPM MA all down and some down big.

Strongest sectors- metals, ags, oils, drugs and defense while telecom, brokers, airlines, real estate, internets and semis lagged.

NYSE- 375 net winners;

NAZ- 100 net losers;

NDX- 50 WINNERS;

OEX -50 WINNERS;

IBD -65 WINNERS;

WINNERS- MTL SID CF MOS AUY STLD FMCN HANS TLAB GRMN JOYG ESRX SIAL HPQ BHI ATI SLB WMB XOM COP EP BAX;

LOSERS- VZ T NYX CCU GOOG S BK EMC BRCM APOL BIDU ISRG SIRI BBY UAUA BLK PDA GIGM HDB MCRS CCH RIMM KSU;

VIX up 3% and about 4% under the 10 SMA - is it losing its relevance?

FWIW- RSI (2) levels at the close:

SPX 39

DJIA 32

RUT 33

MID 35

NAZ 19

NDX 18