Jerry Samet
09-17-2011, 03:32 PM
The market had a strong rally yesterday with the major averages up about .75% on very high volume. It was an expiration day so that must be taken into consideration. The action of the last few days is encouraging. The Nasd has broken above the 2600 level and the 50dma. This is significant. The leaders index has stagnated in the last couple of days but some of this is due to NFLX. Leadership is still very thin but is better than a week or two ago. The weekly Coppock is very close to signaling and strength in the market next week would trigger it. We may well be in a countertrend rally in a cyclical bear market that may be playable. Jerry