Jerry Samet
07-30-2012, 10:57 PM
It was a quite day today. The major averages were all down fractionally on the day while volume declined dramatically. This is the kind of action you like to see after the strong advance of late last week. The market will likely consolidate those gains for the next few days. Leading stocks did a bit better than the overall market as the leaders index rose .11%, also on much lower volume. The index set a new high on both a price and RS basis. So far the rally is looking solid, but the Fed announcement tomorrow and the employment report on Friday will set the tone for the market. Jerry