Jerry Samet
06-06-2014, 12:09 AM
The market had a solid rally session all around. The major averages were higher all day and finished near their intraday highs. The COMPQ led the way up with a gain of 1.05% while the SPY was up .65%. The small caps bounced back with the RUT higher by 2.01%. Volume was the real key here. It was higher across the board, showing accumulation on all the major averages. Most of the major averages are in new high ground, with the NDX and SOX setting highs. Leading stocks had a good session as well with the leaders index outperforming the major averages by climbing 1.61%. Volume was slightly lower than yesterday but still above average. The index made a new high on both a price and relative strength basis. Quality growth stocks leading the market higher is a good sign. The rally is looking much better after the last couple of day’s action and an increasing exposure is warranted. Jerry