Jerry Samet
03-05-2015, 07:25 PM
The market had a mild rebound today after declining the last two sessions. The COMPQ led the way higher with a gain of .32% while the SPX was higher by .12%. All the major averages closed near their intraday trading highs. Volume was lower across the board. You would have liked to see higher volume on the bounce. Leading stocks had a solid up day with the leaders index gaining .47% and finishing in the upper half of it’s intraday range. The index tagged it’s short term 9dma but remained comfortably above this support level. The index made new highs on both a price and a relative strength basis, a positive sign. We saw a moderate bounce today and the major averages held the gains. Quality growth stocks continued to outperform the overall market, a sign that the rally likely has some further distance to go. Jerry