Jerry Samet
01-19-2013, 06:54 PM
The market was mostly weak early yesterday but strengthened later in the day. The major averages finished the session at their highs of the day and all were in positive territory except for the Nasd averages that closed slightly lower. This was mostly due to weakness in AAPL. Volume was higher across the board, which is positive, but a lot of that was due to options expiration. Leading stocks outperformed the overall market with the leaders index rising 1.12% on volume that was a bit lower and below average. The index made a new high and the RS line is just shy of it’s previous high. Many of the major averages are at multi year highs and all are at new highs for the move. The rally is still on solid ground and it is best to sit with positions that are working. Jerry