Jerry Samet
01-19-2012, 11:25 PM
The market rallied again today with the major averages rising a bit more than a half of a percent each. Volume was generally higher. It was about flat on the Nasd and higher on the NYSE. All the major averages are comfortably above their 200dma's and continue to close at or near their highs of the day. Leading stocks underperformed today as the leaders index rose .20% on slightly higher volume. The index has risen above it's 9dma for three weeks now and may be getting a little extended short term. Today the index closed below it's opening, thus producing the red candle. The rally continues intact, but we may need a short term pull back. Jerry