Jerry Samet
02-01-2012, 11:42 PM
The market opened strong today after better than expected economic news from overseas. It climbed most of the day and even though it sold off a bit near the close all the major averages closed with solid gains and in the upper half of their respective trading ranges. The Nasd and NYA made new highs for the move today and all are above their 10dma's. Volume was mixed, higher on the Nasd and lower on the NYSE. Leading stocks slightly outperformed the overall market with the leaders index climbing 1.23% on about unchanged volume. It too made a new high for the rally. Small and mid cap averages lead while the Dow brought up the rear. The rally seems to be on solid ground and the long side is the place to be. Jerry