THE CLOSE

Hard to believe - markets move way up on the heels of a retest of the recent lows and a crummy earnings report from INTC. The move from -320 on the DJIA to +575 all in just a few hours.

Strong sectors- emerging markets, metals, oils, real estate and shipping while defense, homies and drugs lagged.

NYSE- 1500 net winners;

NAZ- 1300 net winners;

VIX- down 11% at 59;

Heavy volume at 2B shares traded;

RSI (2) mainly in the 65 area;

A difficult market as the lows got bought and markets soared- bottom line pretty difficult for anyone but my guess - shorting will be in vogue before long - like next week.