Jerry Samet
02-06-2013, 10:54 PM
The market opened a bit lower today and bounced around unchanged most of the day. The major averages ended the session little changed on volume that was lower and slightly below average on the NYSE and above average on the Nasd. They also closed near their highs of the day. Leading stocks outperformed the overall market with the leaders index rising .83% on higher and above average volume. That makes two days of rising prices on higher volume. The index spent a second day above it’s 17dma and it’s RS line is improving. This is a difficult market with a lot of cross currents, but it looks like the rally has a bit more life in it. Jerry