THE BULLS

So after taking a short rest the last few days the bull decided to make an appearance in the final 60 minutes of trading. Even the NAZ which was down big all day managed to climb into the green into the close.

Strongest sectors- real estate, homies, banks, brokers and metals while tech and semis dragged.

NYSE- 1270 net green;

NAZ- 700 net green;

NDX- 45 GREEN;

OEX -75 GREEN;

VIX- down 4% at 36.25;

TRIN- .93 with up volume 2.5x the down and light overall at 1.4B shs;

Bull markets usually close at their highs and rally into the last hour and are led by financials and tech- well both fins and tech rallied into the last hour and this market is starting to look like a classic bull.

GS opened the day near $115 and closed well over $120 so the numbers were clearly not that bad- JPM up next and we will see the reaction.

RSI (2) levels - sitting near the middle on major indexes near 65 while I continue to feel that the VIX has become more or less useless as an overbought/sold indicator- it doesn't move much.