THE CLOSE

Quoting something I haven't heard in a while - markets are resilient as they looked like they wanted to take them down a few times today but no as the DJIA closed near the high while the NAZ/NDX not nearly as good.

Strong sectors- the usual banks, brokers, homies and retail while oils, steel, internets and metals lagged.

NYSE/NAZ internals strong at +2300;

VIX down 2%;

Crude crushed and now at the $130 level - as demand destruction seems to be the new world order- I suspect it will get bought eventually and be back in the mid 130's before too long- just like I believe this is a rally in a bear market.

Big resistance on the SPX at 1275/1260 area and with C MER reporting before tomorrow's open - it will be interesting- don-t be surprised with anything that happens.