THE CLOSE

So much for the boring day as markets decided to move higher after I posted the bore. Some rumors about Obama mentioning a BAD BANK tonight - and the concern is if he doesn't come out with something its back down tomorrow.

Strong sectors- banks, brokers, reits and homies with metals, drugs, biotech and telecom lagging.

NYSE- 2220 net winners;

NAZ- 1350 net winners;

VIX- down by 13.5% at 45.5 and now at 3% under the SMA 10;

TRIN- .44 and hard to believe but the SMA 5 on the TRIN now under .8;

Decent volume with up leading down by about 12x;

So a strong day that closes near the highs and the RSI 2 level on the SPX up to 62 and another few up days and all the trend followers will be shorting big time-

Gold a big hit today closed at $964- lots of gold bears and I think they will get proven wrong.