The rally in the stock market continues, but where's the volume and the leadership?
The DJIA closed today up 83 points, or 0.6%, at 14,539.14, a new closing high on lower than average volume. Since March 1, daily volume has been declining, not particularly a positive sign for the market in general, some analysts believe.
Leaderships begs another question. So far it's been mostly defensive issues leading the parade. Also conspicuously absent, according to many traders, is Joe Retailer. There are few, if any real signs, retail investors are jumping on board.
The S&P P 500 also rallied, closing at 1,563.23, just points from its all-time high set in 2007. Advance-declines on the NYSE were 2:1.
Tomorrow should prove interesting going into the weekend.
No comments:
Post a Comment