It was overall a quiet session today. The major averages finished little changed on the day with the COMPQ losing .14% while the SPX gained .05%. They traded in a pretty tight rang all day and both finished low in their intraday trading range. Volume was lower across the board and well below average. Leading stocks outperformed the overall market with the leaders index rising .47% on slightly higher but still below average volume. The index continues to bounce along it’s 9 and 17 day moving averages. It seems to have fallen into another consolidation range and may be forming a base on base type pattern. We will have to see which way both the major averages and the leaders index break. I will be away for a few days, the updates will resume the beginning of next week. Jerry
Reply With Quote