Jerry Samet
02-02-2012, 11:26 PM
The market opened strong again today but gave much of that back and spent the rest of the day flat lining. The major averages closed off their highs of the day but the NYA and Nasd finished at the highs of the current rally. Volume declined across the board although it was above average on the Nasd. Leading stocks continued to outperform as the leaders index rose .68% on flat and about average volume. Both the index and it's RS line made new highs for the move today. The rally continues to to progress well and until it breaks important support the long side continues to be the place to be. Tomorrow's action, at least early on, will be dictated by the results of the employment report. Jerry