Victory for the dip buyers at last as the DJIA closes +500 and the SPX +48 with the DJIA over the 8k mark and the SPX over the 800 line.

The naming of the Obama team seems to have caused the rally and who cares why but up is up.

Market internals were red most of the day but flipped in the final hour of trading while volume was about 4/1 to the upside and heavy at 2.2 B shares.

Sectors- strength in metals, emerging markets, oils, ags, utils real estate and internets while shipping, biotech, banks and gaming lagged.

VIX- down 11% at 72;

Gold- +$55 at near 800- and who knows why that is acting so well- .

Back at it next week and would anyone be shocked by a sell 800/8000 next week- we will try again next week - and how about a deal for C before the weekend?