Indices UP .67% to 1.40%....NICE!!!!

Indices closed UP.

S&P 500 @ 2772.35, high 2772.39, low 2748.46

RSI @ 63.70

CMF @ 0.233

Internals were :

UP volume led by 2.64 to 1 in NYSE & 2.13 to 1 in Nasdaq

Advancing stocks led by 1.83 to 1 in NYSE & 1.54 to 1 in Nasdaq

Net new 52 wk highs were leading by 219 in NYSE & 308 in Nasdaq

VIX Down 6.13% @ 11.64

Oil @ $64.73

Gold @ $1301.40

Stocks which were UP 1% or more included BIDU 
CIEN SQ VICR SHOP SPLK GS MS CTRP JD
BAC AMD DNKN EXPE FCX MA SBUX
TECK V VRX CHK RIG WYNN FNSR
MGA ORCL MCD CRUS KBH X....

AH news...FIVE UP 16.76%, WGO Down 6.83%
                  AMSC Down 9.29%

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, Indices closed @ high of the day, Nasdaq and Russell 2000 closed @ new all time highs. Ironically Nasdaq was the weakest in % gain, many semiconductor stocks were down today, this divergence is not healthy for future TAPE action.I have reduced my exposure by 55%, I may stay with 45% exposure going into October, that is the plan which is always subject to change. I do not have good feeling based on VIX which is @ 11.64.....very oversold suggesting too much euphoria already priced in, RSI is also getting in overbought territory. I have been wrong before.

BLOG does NOT give buy or sell.

Saleem