CLOSING CHOP

Markets chopped around most of the day and closed near the unchanged line on the SPX and up 1% on the NAZ - the DOPEY DJIA +3 points.

Strong sectors- metals, brokers, banks, internets and semis- laggards - real estate, shipping, oils, defense and utils.

NYSE- 545 net green;

NAZ- flat internals;

VIX - down 2% near 43.5;

Not much here as the bulls defended the unchanged line while the bears got it right after the opening gap up- Tomorrow - no idea but going in LONG SRS-

Market over bought with RSI (2) levels near 85 - plus I am not a big believer that all kinds of things changed with Kass's call or Jamie Dimon's speach - lets watch the action the rest of the week first.