THE CLOSE

Markets closed green although well off the best levels of the day as many traders seemed to be upset by the rejection of the oil price at the 200 week moving average. The dollar also started to rally after 10.00 AM causing some folks to fear a sell off in equities and commodities.

Strong sectors - gaming, biotech, retail, homies and financials while energy, ags, defense, tech and emerging markets lagged.

NYSE- 600 net winners;

NAZ- 350 net winners;

NDX- 60 GREEN;

SPX- 300 GREEN;

TRIN- 1.06 with up volume 1.5 x the down.

VIX- down 1% at 24.89.

RSI 2 levels still near 90 on most major indexes and some traders seeing some not pretty candles on the daily charts. Not sure I agree we are going to sell off ugly but a brief retreat would not be surprising.