Jerry Samet
10-01-2015, 09:43 PM
The market were mostly lower early on until strength in the last couple of hours of trading saw all the major averages finish near their intraday highs. The close showed mostly mild gains with the COMPQ up .15% while the SPX gained .20%. Volume was lower across the board and slightly below average. Leading stocks were mostly slightly higher as well with the leaders index gaining .40% on slightly lower but still above average volume. The index closed in the upper half of it’s intraday range, which showed some support. It is still below the 50dma, and that is the critical resistance level that it must overcome. Today’s action didn’t do much to make the picture any clearer. There was little follow through from yesterday’s gains, but the major averages did recover early losses. We still must see if the major averages can hold above the Aug. lows. Jerry