Nice gains in the closing hour gets the SPX past the 50 day SMA at the 1,520 area with sights set on the 1,535/1,540 level and the 50% retracement between 1,576 and 1,490.
Strong sectors -metals, emerging markets, oils, insurance, banks and homies while airlines, internets, utils and biotechs lagged.
Key stocks -75% in the green led by MA GRMN MTW BG AMZN NVDA JPM XOM AAPL and MGM;
NYSE -935 net winners;
NAZ -460 net winners;
NDX - 50 WINNERS;
OEX -75 WINNERS;
IBD 100-80 WINNERS;
Big Winners- STP DRYS SDA NOV MTL PKX MA FSTR XMSR FLEX GRMN SIRI EXPD VRTX AMZN ORCL AIG BHI TXN WFC CSCO JPM;
Big Losers- C MS EP CCU COF XRX MSFT HET HNZ CYNO CRNT BIDU ININ ARD DSX WYNN PFWD;
VIX - down 12% and trading at the 10 day SMA;
Up volume more than double Down volume;
TRIN .68;
RSI (2) on major indexes:
SPX 68
OEX 68
NDX 71
RUT 62
DJIA 65
Macau stocks LVS/WYNN down again and trading like there will never be another winning day for the house. Not likely and I suspect they are at/near buy spots (scale).
Metals traded well with GOLD nearing the $830 level-
BHP +4.4%
FCX +3%
GDX +3.6%
PAAS +9%
RIO +6%
