Jerry Samet
02-25-2014, 11:06 PM
The market took a break today as the major averages traded in a fairly tight range. A little late weakness caused the major averages to close in the lower half of their trading ranges. The COMPQ and SPY were both lower by .13%. Volume was lower on the New York and slightly higher on the Nasd(according to esignal). Leading stocks continued to do well as the leaders index rose .83% on fractionally lower but still above average volume. This was a new price high for the index, although much of the increase was due to TSLA. The relative strength line also set a new high and is acting very strong. The fact that quality stocks are outperforming the overall market is a very good sign for the continuation of the rally. The major averages are also acting well with more accumulation days recently than distribution days. The A’s minus E’s are still strong and the MEM is at +5, fully invested. The rally is on track and while we could get a small decline at any time, it looks like higher prices are ahead. Jerry