It was another overall lower volume session as the NYSE, for the 32nd day in-a-row, came in with volume below the 50 day volume average once again. However, underneath the bullish mini-reversal that sent the Nasdaq from a .8% loss to a .8% gain, there was a TON of bullish action in stocks in a wide range of industries.

When the day started off, it sure did not seem like the good times were going to continue as more bad news rolled in from so many areas that it seemed the market was due for a rest. June oil climbed $1.87 to close at $121.84 and hit an HOD of $122.73. This definitely sent some fear in the market, on top of the UBS negative banking report, the FNM and FRE announcement, and then going back to oil GS predicting it to hit $200. However, proving that markets climb a wall of worry, indexes were able to shake all of this nonsense off and most indexes closed near their HOD with every index but the DJIA up .8% (the DJIA was up .4%).