It was a fairly quiet day in the markets today. The major averages traded in a fairly narrow range and finished little changed. The COMPQ was lower by .11% while the SPY fell .11%. The SPY closed in the upper half of it’s trading range while the COMPQ finished in about the middle of it’s range. Volume was lower across the board so there was not a lot of institutional selling. Leading stocks pretty much went nowhere as well as the leaders index was down by only .01%. It closed in about the middle of it’s intraday range and is still holding it’s short term moving averages. The index has essentially gone nowhere in weeks as few quality growth are producing strong gains. Volume has really dried up as there has not been a day of above average volume since Nov. 11. Aside from BABA my best gains are in the leveraged index ETF’s. There was another Hindenburg Omen signal today, making three in the last four days. The market isn’t flashing a lot of red flags yet, it is just not producing a lot of gains either. We must see some good action in leading stocks to really get things going. Jerry
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