Jerry Samet
05-08-2013, 10:55 PM
The market had another solid up day as the major averages rose between .41% on the SPY and .58% on the NYA. Volume was higher across the board and all the major averages closed at their intraday highs. They all set new highs for the move and now have five up days in a row, closing near intraday highs every day. Leading stocks were up a bit today although mostly took a breather for the session. The leaders index was up .15% on about flat but very high volume. You would rather see the index consolidate recent gains on lower volume but the index and quality stocks are acting well. We are probably due for a rest, but the rally looks like it is on solid ground. Jerry