Jerry Samet
10-05-2011, 09:39 PM
The market continued the reversal rally that began yesterday. After some hesitation early the market picked up steam and closed near or at the highs of the day. Volume was down from yesterday's very high levels but was still strong. Leading stocks were strong as well with the leaders index rallying 2.31% on higher than average volume, but also less than yesterday's. The next real resistance would seem to be the declining 50dma and if the rally continues it will be important to see how it reacts at that level. Jerry