Jerry Samet
03-05-2012, 11:33 PM
The market started the day off with a loss and was down all day. It rallied back off the lows and while the Nasd couldn't get back much the NYSE averages did a little better. The small caps have been weak lately but the RUT rallied back to close up a little. Volume was mixed but rose a bit on the NYSE, producing distribution days on the NYA and SPX. All the major averages closed below their 10dma's for the first time this year. Leading stocks held up better than the overall market as the leaders index pretty much treaded water with a .05% drop on higher and above average volume. The index held it's 10dma but has been consolidating lately. We will have to see which way things break, but the market is acting a little tired. Jerry