5.19.2008

THE CLOSE


Markets closed the day mixed with the DJIA closing +41, NAZ -13 and SPX +1.


Strongest sectors oils, internets, utils, metals and telecom while gaming, ags, brokers and homies lagged.


NYSE- 230 net losers;

NAZ- 525 net losers;

NDX- 30 GREEN;

OEX- 55 GREEN;

IBD -50 GREEN;


VIX- higher by 4% at 17.12;


Up volume flat with down with overall light volume;


TRIN- .87;


Markets still over bought even with the big PM sell off and not ready to buy as I think there is a bit more downside here.


Both the SPX and the DJIA climbed above their respective SMA 200 and closed at/near them despite the sell off. The NAZ also closed right at the SMA 200- how now- I suspect not much in either direction for a while but eventually we resolve to the upside.


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