THE CLOSE

So just as Kramer declares the FED got it right because the markets are higher- well you guessed it - we closed well off the best levels on the NAZ/SPX and flattish on the DJIA.

Strong sectors included semis, shipping, tech, retail and biotech while ags, defense, oils and metals lagged.

Note however the energy patch came way off the lows and actually flipped to green at the afternoon highs.

Market internals closed near the worse levels of the day with 1700 net winners on the NYSE/NAZ;

VIX- lower by 6% and about 4% below the SMA 10;

Hopefully some folks made more than I did on the DIG/XLE long- and for now looking at a SKF long for tomorrow as I suspect the game remains the same.

And of course with all the trading above 1325 (most of the day) we close below as it becomes pretty pretty tough resistance.