Jerry Samet
07-15-2013, 11:10 PM
The market traded in a narrow range today with the major averages closing little changed in the upper half of their trading ranges. The COMPQ led the way with a gain of .21%, although the small caps were strongest with the RUT up .65%. Volume was lower across the board so there was again little conviction on the day. The market has risen the two days since the follow through on successively lower volume. Leading stocks were up slightly more than the overall market as the leaders index climbed .32% on lower and below average volume. It has mirrored the price and volume action of the major averages. The market is working it’s way higher and so far, while not lighting any fires the rally look like it is on track. While it is a good idea to keep one eye on the exits, the market look like it is headed higher and the long side is the place to be. Jerry