Jerry Samet
06-11-2013, 12:30 AM
The market traded around unchanged all day with the major averages never getting to far in either direction. They ended little changed but in the lower half of their trading ranges. Volume was lower across the board so there was little conviction either way. Leading stocks did about the same as the leaders index rose .10% on lower and well below average volume. The index closed barely above it’s important 17dma. There are some attractive stocks that are setting up and if the market resumes it’s advance they will likely provide some opportunities, but there are some red flags out there(like the high number of distribution days). Things could go either way from here, so caution until the market gives us more clues is probably a good idea. Jerry