THE FLAT LINE

SPX seems to have hit its head yet again at 875 and in addition to the resistance at that level- major indexes are overbought as witnessed by these RSI (2) levels:

SPY 84

IWM 92

QQQQ 85

Strong sectors - energy, shipping, banks, trannies and small caps while brokers, retail, drugs, internets and telecom lag.

NYSE- 2100 net green;

NAZ - 1500 net green;

NDX/OEX- 90% GREEN;

VIX- lower by 5% at 36;

TRIN- .78 and upside volume about 8x the down;

Still looking for a break higher of the 875 level on the SPX - just looking to sell another rally before the fed mins come out at 2.15- probably a pull back there and another rally higher into the close.