Jerry Samet
03-29-2013, 11:15 AM
The market had a solid up day yesterday as most of the major averages broke above the recent consolidation and some New York averages broke to new all time highs. Volume rose across the board and was above average on the NYSE, some of that due to quarter end window dressing. The major averages showed increases of between .41% on the SPX and .34% on the COMPQ. Leading stocks again outperformed the overall market with the leaders index rising .56% on higher but still below average volume. The index cleared it’s recent consolidation ahead of the major averages, which is positive, and set new highs on both a price and an RS basis. There are some worrisome signs out there, but in the end it appears the market wants to go higher. $85 billion a month in money printing by the Fed can do that. I will be away on vacation next week, the updated will resume next weekend. Jerry