THE CLOSE

Markets rallied but couldn't close green as the SPX was down 9 at 770 and the NAZ at 1441 down about 2.



Strong sectors - real estate, metals, telecom, internets and semis while shipping, defense, energy and utils lagged.



NYSE- 1575 net losers;

NAZ- 1170 net losers;



VIX- higher by 5% at 49.45 and about 8% above the SMA 10;



GOLD up $20 at $994.



Should be an interesting weekend but if nothing good happens I expect a sell off on Monday and a retest of today's lows.



RSI (2) levels on most major indexes near 1 except the NDX which is at 25 - so yest that long NDX short DJIA has worked very very well.



RUT very ugly and if the rally comes that will probably be the best place to be.