Jerry Samet
01-07-2012, 12:49 PM
The market did not react well to a better than expected employment report on Friday. There was a sell off right after the open and after early weakness the major averages rallied, but still closed generally negative even though the Nasd closed up a bit. Volume declined across the board so there wasn't much conviction either way. Leading stocks were about flat on the day with the leaders index rising .07% on higher and the most volume in over two weeks. This looks like a stalling day on the leaders index. The action of the major averages has been better than leading stocks recently with the market exposure model at +5, or fully invested. Breakouts on the other hand have been few and far between and those that have broken out have really not produced meaningful gains. Jerry