5.26.2009

AT THE HIGHS


Markets closed the day at/near the best levels but not very different from the lunch time levels- SPX +23, NAZ +58 and DJIA +196.


Strongest sectors - real estate, small caps, retail, trannies and banks while metals, junk, ags, drugs and oil service lagged.


NYSE- 2000 net green;

NAZ- 1500 net green;

SPX - 470 GREEN;

NDX- 97 GREEN;


VIX - down 6% at 30.6 and 2% under the SMA 10;


Interesting stuff today as both GS IAI and MS closed at the highs- banks not so much with BAC closing red and the dollar closed a hair in the green at 80.2 and there seems to be powerful support at the 80 area.


Tech the real story of the day with AAPL higher by $8, GOOG +11, RIMM +5, I BM +3 and AMZN +2.7.


RSI (2) levels on most major indexes - a hair over 80 with the NDX at 84 and the SPX at 82- and tomorrow is probably turn around Wednesday - so - looking at shorts for day trading tomorrow.

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