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Jerry Samet
04-16-2016, 01:00 PM
The market traded with a slight negative bias yesterday, but it was small. The major averages were a bit lower the entire session, but not by much. The COMPQ fell .16% while the SPX was off by .10%. All the major averages finished the trading day in the upper half of their intraday trading range, a sign of support. Volume was a bit higher than Thursday, but not by much considering it was an expiration day. There was no distribution on any of the major averages because the losses were to small to qualify. Leading stocks were also slightly lower with the leaders index declining .15% on lower and well below average volume. This shows that there was not much selling pressure in quality growth stocks. The index closed in the upper half of it’s intraday trading range and although it traded below it’s important short term moving averages during the day it finished above the convergence of it’s 9dma and 17dma. The action of the market yesterday was positive overall. There was only a small decline and the major averages are digesting the recent breaks to new high ground for the move in a positive fashion. This is a crazy environment due to central bank interference with the markets. All the money printing and zero or even negative interest rates are distorting the normal market cycle and making this cycle unlike any other. Indicators and rules that have worked for decades are misfiring. We are not that far from the highs that the major averages made last summer. If they break above those highs it brings the whole bear market argument into question. It is really difficult to try and figure out what is going to happen, so not getting to aggressive here is probably a good idea. Jerry

For a while now I have known that these updates were being forwarded to many groups, not just the ones I post it to. I have received emails from all over the country asking me how people can get on the list and saying they are receiving my updates after having them forwarded by others. I have decided to set up a Google Group for my updates that anyone can join and get the daily updated directly from me. I will continue to post them to all the groups I am now, but I think this is a more effective way of distribution and would urge people to sign up directly to my group. If you have a Google Group account just log in and go to
Jerry Samet’s Leader Index Updates and join. You will then have them emailed to you automatically. If you don’t have a Google Groups account( and most of you probably get it through one now) then go in and open an account and look for Jerry Samet’s Leader Index Updates. It is easy to open an account, but if you are new to these groups the default email setting is for no emails(I don’t know why they set it up this way). You must change the email option to all emails and they will come through fine. Thanks, Jerry
Again Jerry Samet’s Leader Index Updates