Jerry Samet
08-20-2012, 07:20 PM
The market broke above it's recent consolidation in the last few days. The tone has improved in the last week or so as new quality stocks have broken out in the last week and the major averages have made new highs for the move and are closing near their intraday highs for the last several days and weeks. Leading stocks also are acting better as the leaders index broke above it's recent consolidation and closed at new highs. Volume has been the issue as it has been very light recently, but this likely has something to do with late summer vacations by traders. The market has been rallying for several weeks and will not correct after advances. The %E's are getting low, but that is an early warning sign and the market seems like it wants to go higher. Jerry