Markets close higher but well off their best levels off the day despite Maria's insistance that they "accelerated" into the close. The DJIA +118 after being higher by over 200, NAZ +14 and the SPX +11. The NDX was the laggard, only higher by .25%, weighed down by AAPL BIDU CSCO GOOG INTC and MSFT.
Strongest sectors- airlines, brokers, trannies, financials, metals and internets while oils, utils, drugs, semis and ags lagged.
NYSE/NAZ internals - almost 1,700 net winners;
NDX -55 WINNERS;
OEX-70 WINNERS;
IBD 100-55 WINNERS;
WINNERS- JST BOOM ABAX FCSX GIGM BPHX BLK PDA DLB WFR UPS LEH S GM WFC WMT BNI NYX UAUA TLAB LOGI YHOO RYAAY SBUX FWLT VRTX;
VIX- lower by about 3% and trading a hair above the 10 SMA;
Heavy volume again with Up exceeding Down by about 3 to 1;
Markets were encouraged today by Big Ben and Ken Lewis at BAC, who is apparently ready to buy CFC, which was up over 50% on the news. Hopefully it happens cause this market will be mighty disappointed if it doesn't happen fairly soon.
Technically, the SPX closed at 1,420 which was a support level at the back end of November. Next stop hopefully near the 1,450 level with the recent lows acting as support- as I said buyers lower and sellers higher.
Finally, a hint of a positive divergence on the SPX as the price made a lower low and MACD made a higher low. Its small but its there.
