I was down most of last week due to email problems. The market went pretty much sideways last week. Friday’s action was pretty calm. The market went nowhere most of the session and closed with small gains. All the major averages finished high in their intraday trading ranges. The COMPQ and the NDX gained .11% each. The SPX was higher by .09%. Volume was mixed, higher on the Nasd and lower on the New York. Leading stocks were slightly higher as well with the leaders index gaining .15% on the day. The index closed high in its trading range on lower and below average volume. The market was quiet most of last week with the major averages mostly going sideways and finishing the week little changed. It was pretty much the same with the leaders index. It went nowhere last week. The index is sitting right on its 17dma support and hopefully it will hold this level. So far this is a very weak rally with little to show for being invested. The short term indicators I look at are turning lower so I would expect the market to trend lower from here, though it will likely stay in its recent trading range. The follow through from 3/29 is not producing much in the way of gains and will likely end up failing. Next week is a big week for earnings reports with a bunch of important tech companies reporting. Any one of them could move the market. Last week my email account with ATT went down and I have been unable to get it restored. It may or may not get fixed next week, but either way I am going to move to a new email address. It is jsamet67@gmail.com. Anyone having the old ATT email should change it to the new gmail address because as of now anything sent to the old email address will not get to me. Jerry
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