Jerry Samet
06-21-2016, 06:54 PM
It was a pretty listless session today with the market ending little changed. The major averages had a very slight upside bias with the COMPQ gaining .14% and the SPX higher by .24%. All the major averages closed in the upper half of their intraday trading ranges and volume was lower and well below average across the board. Leading stocks were pretty flat as well with the leaders index losing .02% on very light volume. The index closed high in it’s intraday range and is sitting right on the declining 9dma. The relative strength line of the leaders index is looking a bit toppy. The index must get above it’s now declining 17dma and make a run at recent highs to improve the picture. It will probably be pretty quiet for the next two days as the markets await the results of the UK vote on staying in the EU. Friday could be interesting. Jerry