Markets are trading at their highs of the morning as good news is getting bought again- and thank EBAY for the nice SKYPE news as they sell it out for $2.5B +.
Strongest sectors- gaming, energy, semis, trannies and emerging markets while junk, bonds, real estate and brokers lag.
NYSE- 1400 net green;
NAZ- 1200 net green;
SPX - 420 GREEN;
NDX- 97 GREEN;
VIX- flat at 26.
TRIN- 1.09 with up volume about 3x the down - note FNM FRE C AIG all down or flat- SKEWING the TRIN- in light of all their volume.
RSI 2 levels near 60 on major indexes and markets gave us all a little gift yesterday as the level shrank to 10 on the RSI - usually a good level to buy especially in a strong bull market and that appears to be where we are right now. The Trend is the friend and it is up for now.