The market bounced around unchanged most of the day and finished little changed. The major averages were mixed. The COMPQ was off by .06% and the NDX and the SPX were higher by .04% and .16% respectively. All the major averages finished high in their intraday trading ranges. Volume was lower across the board. Leading stocks were moderately higher with the leaders index gaining .28% on the day. The index bounced off its 50dma and closed high in its trading range. Volume was lower and below average. The market didn’t do much today as the major averages traded mostly sideways all day. They closed little changed. The NASD averages along with the leaders index bounced off their 50dma’s and held them, at least for today. The market is not acting well. While it has not broken down the market is acting weak. The market is closed tomorrow and the employment report comes out before the open on Friday. A low exposure until the market figures out which way to go is a good idea. Jerry
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