Jerry Samet
10-21-2011, 08:24 PM
The market had a strong day today up about two percent on mixed volume, lower on the Nasd and slightly higher on the NYSE. The New York averages broke above the highs of the recent consolidation but all the major averages are still below their 200dma's. Leading stocks advanced with the leaders index rising 1.04% on lower but still above average volume. They continue to under perform the market as can be seen in the RS line of the index. The meetings in Europe over the weekend and next Wednesday will set the tone for next week. If they come up with a workable plan the rally could continue. If they don't we could have a nasty sell off. Jerry