THE CLOSE

A rather uneventful day in the markets as the SPX hit its head right at 2:00 at the 1400 level and the financials turned ugly also at that time.

Strongest sectors- energy, metals, defense, ags and internets while homies, retail, financials and real estate lagged.

NYSE- 480 net winners;

NAZ- 150 net winners;

NDX- 69 GREEN;

OEX- 65 GREEN;

IBD-75 GREEN;

VIX- down 3%;

Volume about equal between up and down- total volume - light yet again;

Crude- another new high at 124.5;

Gold - 885;

$$$$ unchanged;

EURO- 1.5395;

Markets going to have a problem unless the financials shake off the ugly trade of today- solid resistance above and a move higher will probably be met by lots of faders at the 1400/1410 levels. The buy area seems to still be at 1380.

Also, congrats to the folks who bought the OIH dip- shocker that it is moving on up with crude.