Jerry Samet
05-29-2012, 10:41 PM
The market had a solid up day today. After a mid day sell off the major averages rallied into the close and finished near the highs of the day. Volume was up across the board which was easy compared to Friday's low numbers. It was still below average on both exchanges. There was no FTD today as the major averages closed just below the required levels. Of the big three indicators only the Eureka signaled today. Leading stocks were higher but generally underperformed the major averages. The leaders index rose .92% on higher but also below average volume. A logical resistance area for the major averages and the leaders index would be the 50dma. If they get to this level we will have to see if they can penetrate it with any conviction. Jerry