STILL OVERSOLD

Equity markets closed higher today but hardly the big bounce many expected - SPX +5, NAZ +5.5 and the DJIA +24.

Strongest sectors included - semis, energy and retail while metals, biotech, internets and drugs lagged.

NYSE- 430 net winners;

NAZ- flattish internals;

NDX- 57 green;

SPX- 300 GREEN;

TRIN- .94 with up volume about 1.5x the down;

VIX- down 7% and now only about 28% above the SMA 10.

Buy and long signals still the case as most volatility indexes way over bought - as follows:

VXO- 22% above SMA 10.

VXN- 27% above SMA 10.

RSI 2 levels as follows:

SPX 23

NDX 21

DJIA 15

NAZ 16

Tomorrow is TT so lets see what it has - currently AAPL trading up a bit in AH - while the futs are within a point of where they closed.