Indices closed UP .54% to 1.39%......NICE !!!!

Indices closed UP after Spain "showed the budget"......

S&P 500 closed @ 1447.15

RSI @ 57.35

CMF @ 0.016

Internals were :

UP volume led by 4.68 to 1 in NYSE & 4.52 to 1 in Nasdaq

Advancing stocks led by 3.07 to 1 in NYSE & 2.72 to 1 in Nasdaq

Net new 52 wk highs were leading by 109 in NYSE & 64 in Nasdaq

VIX closed Down 11.72% @ 14.84

Oil closed @ $91.85

Gold closed @ $1780.50

AH ER :

ACN UP 3.84%

RIMM UP 20.31% 

RIMM ER was a beat on Sales & EPS.....

Sales Expected $2.50 Billion, actual $2.87 Billion, a sequential increase of 2%

EPS loss expected 46 cents, actual loss of 27 cents

Cash on hand increased to $2.3 Billion from $2.2 Billion, expectation was a big draw down?

Smartphones shipped 7.4 million beating expectations of 6.9 million

ASP went UP, expectations it will go down ?

Can all genius on Wall Street be wrong about RIMM on every metric..YES they were..but they are NEVER wrong about RIMM, because they do "hourly channel checks" ???

AH Futures Mixed

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, volume was low today which does not give me too much comfort. We did not close @ high of the day either. So be careful with your expectations about any rally until earning reports start trickling. S&P 500 CMF was barely green which surprised me.

BLOG does NOT give buy or sell.

Saleem