THE BOTTOM

Markets closed higher but well off their best levels led by financials and tech. The SPX peaked near 1398 and hit its head their and falling 10 points off that high.

Strongest sectors- airlines, brokers, banks, homies, real estate and trannies while metals, ags, steel energy and biotechs lagged.

NYSE- 787 net winners;

NAZ- 800 net winners;

NDX - 67 GREEN;

OEX- 72 GREEN;

IBD 100-27 GREEN;

VIX- down 1.5% at 19.97 after hitting a low near 19.2;

Up volume about 2X down at a heavier than recent 1.4B shares traded;

Markets continue to fall in the after markets as I type on a flow of earnings news. RSI (2) levels on major indexes at/near 80 while the energy ETF's at/near 10 and may be buyable for quick flip.

The financials were strong all day and is the bottom in- well GS hit a low of 140 a little over a month ago and is now about 48 points higher so I will officially call the bottom - although some may wait for 195/200 level, the 50% retracement area and the 200 SMA- also a bit over bought here with a RSI (2) reading near 96. Brokers look to be strong buys on pullbacks.