CLOSING BOOM

Quite a rally as the afternoon sell off was bought quickly and heavily as the markets did what they are supposed to do - close strong days at the highs.

Strong sectors- metals, oils, emerging markets, ags and shipping while biotech, small caps, drugs and gaming lagged.

NYSE- 1770 net winners;

NAZ- 800 net winners;

NDX- 80 GREEN;

OEX- 95 GREEN;

DJIA- 29 GREEN - WINNERS- CAT GE CVX VZ UTX HD C TA AA AXP;

VIX- down 11% at 47.7;

Up volume 8x the down;

RSI (2) levels- a bit over bought-

SPX 95

DJIA 97

NAZ- 98

NDX 98

RUT 97

MID 97

Pretty clear we are in over bought territory and a pull back later in the week should be expected. Gold /Crude also ripping higher so just maybe the liquidity hits everything at the same time.

I am liking gold here on a pullback DGP GLD etc.

Marketwatch checklist for a recovery;

Barry with some great charts;

And finally- from the gamblers- Obama at 92.5% to win and McCain- 7.5%;