Jerry Samet
02-18-2015, 11:05 PM
It was a pretty quiet session today. The major averages never traded far from unchanged. The final prices on the major averages were mixed. The COMPQ closed higher by .14% while the SPX was lower by only .03%. Volume was mixed on the day, lower on the Nasd and higher on the New York. All the major averages closed at their intraday highs, as they have for the last few days. This is a sign of support. The COMPQ made a new high for the move today, while the greatest strength has been in the small and mid cap names as the MID and RUT both made new all time highs on the session. Leading stocks were higher as well with the leaders index higher by .22% on lower and below average volume. The index closed near it’s intraday high and continues to hold above it’s short term 9dma. The market seems to be consolidating it’s recent break to new highs in a pretty constructive manor. Leading stocks are setting few fires but there are few breakdowns either. The market seems to want to work it’s way higher. Jerry