Jerry Samet
12-23-2013, 11:38 PM
The market had another good session today with the major averages posting solid gains. The COMPQ lead the way higher with a gain of 1.08% while the SPY rose .53%. All the major averages closed near their intraday highs, a sign of strength. Volume declined, as would be expected after an expiration Friday and a holiday week. In fact volume is likely to be light for the next two weeks until the holiday season is over. Leading stocks did well also as the leaders index rose 1.39% on lower but still above average volume. The index continued it’s rally of the last week and a half with new highs on both a price and a relative strength basis. This is another positive sign as you want to see quality stocks leading the overall market. There are some worrisome signs, like the high distribution count and the mature bull market, but you don’t argue with a rising market you play it, just carefully. Jerry