Jerry Samet
11-10-2014, 11:04 PM
The market had a modestly positive session today as the major averages had gains early and held on to them for the rest of the session. The COMPQ led the way with a gain of .41% while the SPY was higher by .31%. All the major averages closed at their intraday highs, a sign of strength. The New York averages closed at record highs while the Nasd averages made new highs for the move. Transports were the strongest with a gain of 1.33%, setting a new all time high. Volume declined slightly across the board, so it was a pretty quiet session. Leading stocks did well today with the leaders index climbing 1.01% on higher and above average volume. The index closed near it’s intraday high and is above it’s important 17dma. The fact that the index has been able to hold this moving average is a good sign. The market is working it’s way higher in a constructive manor. It would be good to see leading stocks rally higher and the leaders index take out it’s recent highs and have it’s relative strength line move to new highs . Right now the market is acting well and the rally is on track. Jerry