Jerry Samet
08-12-2011, 10:36 AM
Yesterday's update is late due to a data problem. The market continued its yo-yo pattern yesterday with the major averages up about 4.5%. Volume seems to be calming down as it was lower than it has been recently but still above average. The leaders outperformed the overall market with a rose of 5.23% on lower but still above average volume. We now have a death cross in the NYA and Nasdaq Composite. It would not be surprising to see the market rally back to the 200dma, but I would be surprised if it could do much better than that. Jerry