THE DIPPERS

Markets closed higher but off the opening best levels with the SPX +9, NAZ +19 and the DJIA +56.

Strong sectors- reits, real estate, energy, gaming, semis and brokers while banks, ags, biotech and retail lagged.

NYSE- 1400 net winners.

NAZ- 575 net winners.

NDX- 71 GREEN.

SPX- 360 GREEN.

VIX- up 1.5% at 25.67.

Up volume about 2x the down and ignore the TRIN as it has become useless IMVHO.

Gold closes red at $996 despite the the dollar being down .75%.

RSI 2 about 90 on most major indexes - as the markets are over bought.

As expected the markets trended higher as the dips were bought - and I suspect that action will continue and the long side will be the place for profits.