The market was lower all day and late weakness caused the major averages to finish near the lows of the day. Volume was mixed, up slightly on the COMPQ and lower on the NYSE(according to esignal). This produced another distribution day on the COMPQ. Leading stocks were also lower on the session with the leaders index down .83% on higher and well above average volume. The index closed below it’s 17dma for the first time since the rally started with the FTD on the day after Thanksgiving. The MEM had another sell signal today bringing the count to +2. The rally is showing more signs of stress and a significant amount of caution is warranted. Jerry
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