Jerry Samet
09-11-2013, 06:36 PM
The market started off weak today and it looked like the major averages would pull back after two strong sessions. The market bottomed in a little over an hour and spent the rest of the day climbing back. The New York averages lead the way with the INDU up .89% and the SPY .31%. The COMPQ regained significant early losses and closed almost flat on the day. All the major averages closed near their intraday highs while volume was lower across the board. Leading stocks gave up some of their gains and closed flat with the leaders index up .13% on slightly higher and above average volume. The market took what could have been a negative day and turned it around. This is positive action and suggests higher prices ahead. Jerry