Jerry Samet
04-23-2013, 10:33 PM
The market had a good rally today with the major averages rising between 1.04% on the SPY and 1.11% on the COMPQ. Volume rose across the board and the close was right at the highs of the session. All the major averages are back above important moving averages. Leading stocks also did well as the leaders index rose 1.91% on heavier and above average volume. The index is back above it’s 9dma and 17dma, which is a positive sign. It is almost impossible at this point to figure out which way the market is going. Every time it looks like it is going to break solidly in one direction it reverses and throws everyone for a loop. Unless you can trade very short term the side lines are probably the safest place to be. Jerry