Today on the Marketbeat: Wallstreet Rallies without Banks

Market #'s @ Closing Bell:

S&P: +12

DOW: +140

NASDAQ: +21 

RUS2K: 

TSX/S&P: 

VIX: -2.55

Internals:

Core Sector List: 14/2

NYSE

BREADTH: 1.6/1 Pos

AD LINE: +645 Ticks

NASDAQ

BREADTH: 2.5/1 Pos 

AD LINE: +410

Today on the Marketbeat: Wallstreet Rallies without Banks

Today was an interesting day for intraday action. The markets got off to a decent start today only to be met with extreme selling to the pivot point. That Pivot would prove to be a valuable area of support of the markets as the ES turned to rally off that pivot and make higher highs into the after noon, closing near the highs of the day around R2 on the S&P. What made this rally impressive and in some lights put up a red flag is that the markets did this rally without any big banks participating, so imagine if the banks had participated. This gives way to caution as the markets that rally without the banks usually see it short lived. Only time will tell.

The internals were all over the table, starting with the breadths. Starting off slightly bearish only to give up both breadths to the bulls a lil after lunch time as the NYSE and NASDAQ breadth showed some relative strength today. The AD Lines tacked on some modest gains, with the NYSE AD Line moving over 1200 ticks today from high to low. Closing out the internals the vix dropped 2.5 points today. 

Ideas: With crude at an important action point here's some crude ideas.

Long: FTI / OII / RIG

Short: OIH / BJS / HAL / WLL / DO