Jerry Samet
02-14-2013, 10:39 PM
The market had another flat day today with the major averages all trading in a tight range and finishing little changed on the session. Volume was higher across the board and all the major averages finished near their highs of the day. This is generally positive action, although they are having trouble getting over important resistance levels. Leading stocks were mixed as well with the leaders index down .68% on lower but still well above average volume. This small loss comes despite large losses in the two 3-D printer companies DDD and SSYS. The index remains under it’s 9 and 17dma’s while it’s RS line fell below it’s 50dma for the first time. Although the index has not taken to much of a hit yet, components are starting to break down. Although both the major averages and leading stocks are holding up the rally has a tired feeling to it. It is hard to know when it will roll over but the enormous amount of liquidity the Fed is pumping into the system is clearly helping the market. Jerry