The markets had an up but not to inspiring day. The major averages were up all day and all but the Dow closed near their highs. Volume was mixed, up slightly on the Nasd and down slightly on the NYSE. The leaders had a better day, up 1.7% on higher but still below average volume. The leaders index broke above the 50 and 17dma's, which is a good sign, but we would have to see more strength to get excited. I have been keeping an eye out for Hindenburg Omen signs and we came extremely close today. If you use the 2.8% level we were 7 issues short on the new lows. If you use the original 2.5% level we had one today. It is a good idea to watch out for this indicator as it signals the end of a bull market, not an intermediate term correction. For more information on this rather obscure indicator just Google it. The major averages have come up to their 50dma's, so watch to see if they clear this hurdle. Jerry
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