Leaders Index 12-10-13

The market all day today and traded lower most of the session. A late sell off caused all the major averages to finish at or near their lows of the day. The SPY lead the way down with a loss of .32% while the COMPQ dropped .20%. Volume was mixed, slightly lower on the New York and higher on the Nasd. This produced a distribution day on the COMPQ. Leading stocks were mixed as some such as TWTR and FB did well while others like SBUX were weak. The leaders index fell .31% on higher and above average volume, although much of this action was caused by LL which declined 13.66% on very high volume. The index again closed below it’s important 17dma again and is in danger of living below this moving average. The market isn’t lighting any fires but is also not giving off any real sell signals. It’s a tough market to trade and any positions should be held selectively and with tight stops.
This is not the kind of market you want to get to aggressive in. Jerry