Jerry Samet
02-05-2013, 11:14 PM
The market bounced back from yesterday’s sell off with the major averages regaining most of what they lost. Volume was higher across the board and all the major averages closed near the highs of the session. It is a positive sign that the market declined yesterday on lower volume then rose today on higher volume. Leading stocks slightly outperformed the overall market with the leaders index climbing 1.31% on higher and slightly above average volume. The index also regained it’s 17dma for the first time in over a week. The rally is showing clear signs of age but has not rolled over yet. Cautiously long is the place to be. Jerry