THE 200 SMA RIP

An exciting day in the markets as the bulls showed their stuff in the final hour and ran over the shorts to grab back half the days losses.

The SPX -13, NAZ -11 and the DJIA -65.

Strong sectors- biotech, reits, internets, small caps and retail while energy, mining, metals, homies and ags lagged.

NYSE- 1400 net losers;

NAZ- 800 net losers;

NDX- 30 GREEN;

SPX - 75 GREEN;

VIX- higher by 5% at 31.1;

RSI (2) levels on the major indexes - near 40 on the SPX and up to 75 on the outperforming NDX;

Some good trading by the fish - as I caught the bounce off the SMA 200 at/near 923 on the SPX- so if you loved them higher their was ample opportunity to reload lower- and it looks like a good trade for now- and tomorrow they probably take them back up.

And I sold most of my QLD into the rip of the last five minutes - still some to go -