Jerry Samet
05-24-2012, 11:15 PM
The market opened lower and was down most of the day before staging a late rally. The major averages finished mixed with the COMPQ down and the New York averages up. Volume was down slightly across the board. There was very little follow through after yesterday's reversal. Leading stocks out performed the overall market as the leaders index rose .43% on strong volume, although much of the volume increase was due to ALXN. The major averages are still being contained by their declining 10dma's and a break above this resistance is the first step on the way to higher prices. Jerry