Jerry Samet
02-20-2014, 10:49 PM
The market had another positive day today. After about a flat open the major averages started rallying. They were strong into the close and all the major averages finished near their highs of the day. The COMPQ was higher by .70% while the SPY rose .60%. The small caps led the way again with the RUT rising 1.14%. Volume was mixed, lower on the New York and higher on the Nasd. This increase in volume along with a solid price gain produced an accumulation day for the COMPQ. The real action today though was in the leading stocks. There were many that had strong advances on volume and the leaders index was higher by 3.20% on much higher and well above average volume. Many components of the index had large percentage gains on very high volume. Among these are CLFD, ACT, GMCR and LUV. The index made new highs on both a price and a relative strength basis.Today’s action was very encouraging as quality stocks are leading a strong market higher. The rally seems to be on solid ground and it would seem that higher prices are ahead. Jerry