THE FIBS

Markets chug higher with the DJIA/SPX leading and the NAZ/NDX lagging -

Strong sectors- trannies, shipping, banks, defense and energy while real estate, semis, metals and tech lags.

NYSE- 1933 net green;

NAZ- 890 net green;

NDX- 50 GREEN;

OEX 80 + GREEN;

VIX - flat at 42.75;

TRIN- .64- Up volume 7x the down;

Crude has flipped to green and it has dragged the energy complex with it;

Gold down $8 at 922;

RSI (2) levels - who cared when they stayed very low and who cares now that they stay very higher 97 or so on major indexes.

Lots of folks expecting resistance at 780 area on the SPX as it the area of a number of FIB retracement levels- Feb highs and March lows 875/666- so just FWIW- also the 2002 lows on the SPX coming into play - at/near these levels.