THE CLOSE

Markets closed higher but off the best levels of the day and its interesting to look at how the various indexes closed:

DJIA +.79%

SPX +.8%

NAZ +.87%

NDX +.74%

RUT +1.26%

MID +1.17%

Clearly the out performance of small /mids continue and for the year - the RUT down only 4% on the year while SPX/DJIA down about 13%;

Strong sectors included homies, shipping, brokers, steel, gaming and metals while biotech, drugs, ags, semis and defense lagged.

NYSE- 1650 net winners;

NAZ- 770 net winners;

NDX/OEX- 160 GREEN;

VIX- lower by 3.3% and about 2% under the SMA 10;

GOLD/CRUDE/EURO all higher- while GS continues to under perform along with GOOG;

SPX seems to be a sale at the top of the range at/near the 1290/1300 level and a buy at the 1260 level-