Jerry Samet
05-31-2012, 11:26 PM
May ended pretty much with a whimper as the month as a whole was very weak. The major averages recovered most of their early losses to finish in the upper half of their trading ranges. The day overall had a weak feel to it. All the major averages are still below their declining 10dma's. Volume was higher across the board and also well above average. Leading stocks performed about in line with the overall market as the leaders index slipped .35%, also in heavy volume. There are few attractive looking quality stocks now, which says a lot about the market. While a news event could cause an FTD at any time in a market like this, things don't look good. The employment report will set the tone for tomorrows trading. Jerry