Another day in paradise as the DJIA closes down 155, NAZ -43 and SPX -20 and 3 points away from the magic 1,270 number. Oh and some issues in the New York State Governor's mansion.
Strongest sectors- semis, utils, drugs, oils and internets while ags, airlines, brokers, metals and biotech were the weakest.
Market internals- 6/1 losers/winners on the NYSE and 3.5/1 losers to winners;
NDX- 15 GREEN;
OEX -15 GREEN;
IBD 100- 9 GREEN;
WINNERS- CMED BOOM ENS ICLR CEDC SVR TISI HES MA VMED APOL AMAT AMGN EXPE MCD ORCL TXN XRX HNZ BUD AMGN;
LOSERS- UNH CI LEH ATI C GM COF MER GOOG LVLT VRTX NIHD UAUA NVDA FWLT GILD MICC RIMM FMCN SMTS AFAM TITN MTL ARGN AGU FCSX FSTR;
VIX- nearing 30 and about 7% higher - trading 15% above the 10 SMA;
My proprietary overbought/oversold breadth indicator about as over sold as it gets and near levels it has been at other market bottoms.
RSI (2) levels- at near 3;
10 year Bond- 3.44%;
Going out on a limb and declaring a rally some time tomorrow as I have covered most shorts.
