The market had a generally down day today although the major averages closed well off their intra day lows. Volume was higher than Tuesday, but that was a half session so you would expect volume to be higher. IBD did not call a distribution day on the New York averages due to the short session on Tuesday, although they did call an FTD last Friday on higher volume due to an expiration day. Leading stocks continued to act well as the leaders index rose .48% on the day, setting new highs on both a price and RS basis. Volume was about average on the day. The market seemed to be taking a rest before the employment report tomorrow that will set the tone for trading on the day. Jerry
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