Equities closed a bit off their best levels of the day - but the markets did turn around and send the shorts home unhappy yet again.
SPX +9.5, NAZ+25.5 and the DJIA +54.
Strongest sectors- airlines, reits, silver, semis and banks while energy, ags, emerging markets and brokers lagged.
NYSE- 1200 net winners;
NAZ- 800 net winners;
SPX- 410 GREEN;
NDX- 91 GREEN;
VIX- down 2% at 17.85.
TRIN- .84 with up volume about 3x the down.
Bought the dip today and now am long XME LVS BAC and small guy VVTV - as it looks like equities will continue the upward move probably taking out the tough 1150 resistance level-
RSI 2 levels not that stretched at under 70 on most major indexes - I suspect lots of folks bought that dip as that has been the money trade for some time.