Markets closed higher but the last 2 or 3 minutes of tradings saw some fierce selling as the DJIA lost almost half the gain in that time period. The DJIA +46, NAZ +18 and SPX +7.5.
Sector strength homies, biotech, airlines, brokers and telecom while metals, ags, drugs, defense and banks lagged. Small cap value and mid caps did very will.
NYSE- 750 net winners;
NAZ-534 net winners;
NDX 70 GREEN;
OEX- 80 GREEN;
IBD- 60 GREEN;
Heavier volume at 1.5B with up about 2X down volume;
VIX- down .5% while VXO down 6.75%;
Not many folks sad to see this month go by the boards as the SPX closed above recent 1315 support at 1323. Tomorrow another day and hopefully better action as today was pretty depressing despite the higher close. Just seems as every time the markets look like they are getting going- they fall right back down.
With all the fund redemption's and all the money invested at 1 to 3.4% in various treasuries - it seems like they are is a lot of fuel on the sidelines - if there were some good news to get it going.
