Jerry Samet
07-18-2012, 11:28 PM
The market had another solid rally today. The major averages rose between .47% and 1.12% on higher volume across the board. The tone seems to have improved in the last couple of days with two solid gains on higher volume. Leading stocks had a good day also with the leaders index up .96% on higher and above average volume. The index tagged the 17dma today. It would be a real sign of strength if it could break above this important moving average. There were a couple of nice breakouts today as SSYS and ATHN had strong advances on extremely high volume. MLNX is set to do the same tomorrow. These three stocks should be watched closely, if they cannot do well the rally attempt has little chance of success. The COMPQ has also had a series of higher highs and higher lows. If it can take out the most recent high it will continue this pattern, a positive sign. Jerry