6.26.2009

THE CLOSE


Markets closed mixed after a rally attempt in the final hour failed - as someone was trying to get equities up before the end of the month, quarter or half.


The SPX -1.5, NAZ +9 and DJIA -34.


Strong sectors- real estate, internets, small caps, biotech and brokers while metals, energy, homies and retail lagged.


NYSE- 500 net winners;

NAZ 700 net winners;

SPX- 200 GREEN;

NDX- 50 GREEN;


VIX down a bit at 25.98;


TRIN- 1.36 with up and down volume about equal and way up to 2 B shares - the most in quite a while;


Tech stocks a bit over bought as the NQ has an RSI (2) of 88 while the ES is a mere 69.


Probably more mark up action on Monday and then some beginning of the month/half buying and maybe a sell off into the end of next week - taking it one day at a time - made some money today as I tried to buy low ticks and sell high- and they were very high near the close but then sold off.

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