THE CLOSE

The bulls did well with the SPX closing well above the important 805 level and the NAZ closing higher by 98 and well up on the year. I guess the Obama rally continues.

Strong sectors- banks, real estate, brokers and homies while metals, ags, drugs and utils lagged.

NYSE- 2600 net green;

NAZ- 1900 net green;

NDX/OEX- 95+ GREEN on each;

VIX- down only 6% on the monster rally;

Just about all volume to the upside;

Seems like the bulls are running wild for now but of course now we have turn around Tuesday tomorrow and over bought conditions- not sure the bears are ready to climb into a hole yet- So lets see where we go from here on the over bought conditions.