Jerry Samet
08-15-2017, 07:39 PM
The market took a bit of a rest today with the major averages finishing little changed. After trading in a tight range the COMPQ closed with a loss of .11% while the SPX declined .05%. Both closed low in their intraday trading ranges. Volume was lower across the board, which is good on a day when the market rests after a couple of days of advances. Leading stocks were also slightly lower on the day with the leaders index declining .21% on the session. The index closed in about the middle of its trading range and had a new high on an intraday basis. Volume was lower and well below average. Taking a break after an advance is ok, and the fact that volume was very low is a good sign. Leading stocks seem to be performing a bit better than the overall market, which is good, but I think we still need some solid upside action with strong volume behind it to show that the rally is on track. Jerry