The market had a quiet session today as the major averages consolidated yesterday’s gains in a constructive manor. The fact that they held the gains and gave none back is a sign of support. After trading in a tight range all day the COMPQ finished with a decline of only .03% while the SPX fell .11%. Both closed low in their intraday trading ranges. Leading stocks were quiet as well with the leaders index gaining .13% on the day. Volume on the index was lower than yesterday and well below average. The index also closed low in it’s intraday range and is still trying to get above it’s 17dma. Overall the action of the day was good as the market held it’s gains of yesterday. The market seems to want to work it’s higher. Jerry
Reply With Quote