NEAR THE HIGHS

Markets are riding high and closed near the highs on the SPX/DJIA/RUT while the NAZ/NDX continued to struggle - Semis and tech may be signaling the end of the rally is near as its tough to go straight up without them.

Strongest sectors- banks, reits, real estate, brokers, homies, energy and small caps while retail, semis, tech and telecom lagged.

SPX- 405 up and 95 down;

NYSE- 2200 net green;

NAZ- 1300 net green;

NDX- 60 GREEN;

OEX- 80 GREEN;

VIX- down 4% at 32 and bill with some thoughts on where this index may be going;

My trades today included DIG IYR and a little short in QID which I am still holding as I am expecting some weakness next week-

RSI (2) levels as follows:

SPX 81

DJIA 79

NDX 28

NAZ 55

RUT 76

Finally - check out this poll from Gallup -