Jerry Samet
08-14-2012, 11:24 PM
The market had a modest gain early in the day as the major averages tried to break above their recent consolidations. A decline later in the session brought them back into the consolidation areas and they all closed in the lower half of their trading ranges. Volume increased across the board but the COMPQ missed a distribution day because it declined by .18% rather than the required .20%. Leading stocks were also a mixed bag with the leaders index falling .32% on higher but still below average volume. There was distribution on this index. The market continues to trade in it's recent consolidation range and we won't really know which way it will go until it breaks one way or the other, but the market looks like it wants to go higher. I will be away for a few days so the updated will resume next week. Jerry