THE CLOSE

Markets closed higher but in the middle of the days range and was led by semis, financials, brokers, bonds and biotech- laggards telecom, retail and gaming.

NYSE- 1130 net winners;

NAZ- 685 net winners;

NDX- 70 GREEN;

OEX- 70 GREEN;

Light volume with up about 2.5X the down;

Gold down $5 and a hair under $900 while crude crashed to a shade under $42;

Traded the NDX today from the long side and its pretty easy to see that every one is waiting for a break in one direction or the other - today just chop but better from the long side.

SPX 845 here we go again in the middle of the 945/741 high and low and at the 50% retrace- Market seems to have a hard time getting through this area of resistance and just wondering if back down we go -

BIG on credit defaults;

More on the VIX ETN's;

DR. BRETT on Three Basic Setups;