MIDDAY CHECK

Markets are trading at/near their highs for the day as the DJIA did trade about 100 points lower earlier in the morning. Currently, DJIA +270, NAZ +70 and SPX +30.

Strongest sectors- internets, brokers, oil service, tech, banks and retail- lagging are metals, utils and drugs.

NYSE- 1930 net winners;
NAZ- 1500 net winners;
NDX- 90 GREEN;
OEX- 85 GREEN;

VIX- down 4.5% and trading about 12% under the SMA 10 and at the lowest point of the year;

Up volume 5X down;

Remember, when markets are very strong they tend to close at/near the highs. That is today so that is what I expect and have been buying dips in QLD/SSO.

Alson note GS at/near recent resistance at/near 182- this has been a FIB retracement area where lots of selling has happened in the past.

Note also RSI (2) levels at/near very over bought levels of 95 on the major indexes.

More on the VIX- and the time is probably at /near these levels.

John McCain- pretty charitable and hasn't done nearly as well as the two other candidates.

And Barry aggregating.