Markets closed mixed with the DJIA -35, NAZ +10 and the SPX -.51.
Strong sectors- homies, semis, internets, trannies, brokers and banks while oil service, energy, ags, biotech and drugs lagged.
WINNERS- SBUX ISRG EBAY LLTC LBTYA GRMN WYNN C AAPL USB DOW RF TGT LMT F;
Some kewl numbers on the NDX as it closed with an RSI 2 of 100 for the last three days and a number of 99 for the three days prior to the last 3- interesting and overbought as it ever gets.
The VIX closed at 23.47 and about 9% under the SMA 10- oversold - but was more oversold a few days ago.
Dougie Kass tweeted that his short book is as big as it has been since some time in February. OK -
Nat gas also moving up and don't be surprised if it tags $4 before the week is over- its cheap and its not going bankrupt.
I am long some SDS and eventually it should be a good trade - and I think this afternoon was an indication that a short term turn is just about upon us.
How low do we go - either we go down where no one wants to buy (the usual) or maybe the EMA 20- near 925 and rising.