Indices closed UP .65% to 1.10%......NICE !!!!

All indices made another higher highs.

S&P 500 went to 1266.73, closing @ 1257.08

RSI closing @ 57.89, during the day it came close to 60.

Internals of the market were as follows :

UP volume led by 3.62 to 1 in NYSE & 3.55 to 1 in Nasdaq

Advancing stocks led by 3.46 to 1 in NYSE & 2.30 to 1 in Nasdaq

New 52 wk highs were in the lead, 112 in NYSE & 59 in Nasdaq

VIX closed UP .51% @ 27.66

Oil closed @ $100.99

Gold closed @ $1734.50

Stocks which closed UP 1% or more included M,RIMM,RVBD,
CNQ,CLF,COH,SNDK,MGA,CMG,TCK,GS,FCX,AGU,SU,
VMW,FFIV,CRM,JCP,MS,C,ARUN......

Reason for my major sell was to lock profit.

S&P 500 has gone UP from 1158.66 to 1266.73 in a straight line, a gain of 108.07 points or 9.33% in six trading days..this sharp move UP needs rest, as its overbought.

CMF is RED in all indices......

Many of the proposals about EU meeting is well known to markets & has been the catalyst for this huge move.

Once we have gone through another base building, then this rally should resume. Any rally should be used to lighten up to lock gains or to prevent further losses.

Ironically, Jimmy the Cramer is saying sell sell sell again after his last week sell sell sell...so he is directing traders to sell who were out of this rally as per his previous sell sell sell....no wonder he calls his show "entertainment"

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

BLOG does NOT give buy or sell.

Saleem