OFF THE BEST LEVELS
Markets closed off the best levels of the day but with a nice gain never the less- and I did sell some DGP near the end of the day.
Strong sectors- metals, oil service, internets, retail and energy while reits, junk, trannies and banks lagged.
NYSE- 1760 net winners;
NAZ- 1250 net winners;
NDX- 91 GREEN;
SPX- 421 GREEN;
VIX- 25.7 and down 4% and trading near the SMA 10.
TRIN- .86 with up volume about 4.5x the down and light overall at 1.25b shs traded.
RSI 2 levels as follows:
SPX - 82
GOLD - 97
So markets over bought again and I suspect we rally back to today's highs tomorrow and witness a similar sell off- That is the current plan of attack.