Markets closed higher led by the small and midcaps with the strongest sectors being the banks, real estate, oils, homies and insurance while utils, telecom and drugs lagged.

Despite the big run up in the indexes the NYSE/NAZ internals were flat;

VIX- closed down 3.7% at near 31.5;

TRIN -.46;

SPX closed at 1213.5 and a buy at my price of 1170 would have been sweet but didn't happen as it was the low. Any retest of any where near that level will be bought- and if AIG doesn't get bailed within 24 hours that low may be tested quickly.


Blogger tamworth said...

Yes, seems like we need one more good shakeout this week or next...just a gut feeling...probably need the VIX back up near 36 or so ...

I'm thinking we may even test 1140 spx as I think that'd do "it."

We'll see...

5:55 PM  

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