5.09.2008

THE CLOSE


Major market indexes closed lower but don't tell anyone that the RUT and the MID both closed in the green.


Strongest sectors were gaming, shipping, small caps, biotech and utils while insurance, drugs, real estate and homie lagged.


NYSE- 215 net losers;

NAZ- 150 net losers;

NDX- 40 GREEN;

OEX-27 GREEN;

IBD- 40 GREEN;


VIX flat and trading at the SMA 10;


GOLD- 886;


CRUDE- 126;


Down volume about 2X the up and very light at barely 1.1 B shares traded;


TRIN- 1.53- volume flowing to the losers;


RSI (2) levels:


SPX 21

DJIA 17

NAZ 35

NDX 39

RUT 46

MID 66

XLE 65

OIH 82

XLF 20

DBA 96

DBC 98


Markets a bit over sold here and a move higher back to the 1400 level on the SPX early next week would not be surprising. Hopefully someone else besides this fish caught the nice move in DIG-

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