BULLISH CLOSE

Another winning day for the bulls as they continue to defend SPX 815 with vigor- the level was tested on the FOMC minutes sell off and it held big time. Also note how well the market behaved in the final hour- bears couldn't get it done and in came the big green bars.

The fins and real estate sectors were weak all day but had a fire lit under them in the final hour- as buyers showed no discretion.

NDX/NAZ very strong- with tech and semis doing well most of the day and the NDX closing with 90 green stocks.

Note also during the sell off that the market internals stayed way green all day despite the red turn in the DJIA and the move to flat by the SPX.

VIX- down on the day and trading a hair under 39;

TRIN- 1.09 with up volume about 3x the down;

RSI (2) levels near 50 on the SPX and 60 on the NAZ/NDX;

Expecting a choppy day tomorrow as volume probably dries up and some folks stay away with the double holiday on Friday.