Jerry Samet
09-12-2014, 01:05 AM
The market was mostly lower today and it looked like there might be another negative day. With two hours left in the session the major averages reversed higher and all of them closed in positive territory except the Dow. All the closes were at the top of their intraday ranges, a sign of strength. Volume was mixed, lower on the Nasd but higher on the New York. Leading stocks also had a higher but still pretty lackluster day. The leaders index was higher by .51% and the index closed slightly above it’s important 17dma. Volume was lower than yesterday and slightly below average. The market seems to have a bid under it that is preventing real losses, but it also can’t seem to get much push on the upside. Both the major averages and the leaders index are in side ways patterns and we will have to wait and see which way they break. Jerry