::: Today’s Market Action :::

After yesterday’s sharp bullish reversal off the lows with volume, the market is following through with another bullish move through the first part of trading day today.  Volume is quite good and on pace to come in higher than yesterday in the major indices (it should be noted that volume is tracking much lower in the tracking ETFs of the major indices), indicating a good chance of another day of accumulation (a telling sign that institutions are once again putting money to work). 

(Note: volume averages are based on the average over the past 50 days)
Data as of 1:30PM EST

Nasdaq: up .91% today with volume currently tracking 3% ABOVE  average
Nasdaq ETF (QQQQ): up .81%, volume 13% BELOW the average
Dow: up .52%, volume 2% BELOW average
Dow ETF (DIA): up .58%, volume 23% BELOW the average
S&P ETF (SPY): up .52%, volume 27% BELOW the average
Russell Small Cap ETF (IWM): up 1.42%, volume 40% BELOW the average

Leading stocks that make up the SelfInvestors Breakout Tracker database are fairing a bit better today but sell volume is still heavier than buy volume in these leading stocks. 

Summary:

* Advancers leading Decliners 283 to 110.
* Advancers are up 1.67% today, but volume is 8% BELOW average
* Decliners are down .98% and volume is somewhat heavy at 10% ABOVE average
* The total SI Leading Stocks Index is up .82% today but with volume a bit below average by 3%

* Where’s the Money Flowing *

Many websites just provide leading industries based on price performance alone.. without the volume, this can be misleading.  The only way that I know of to guage industry/sector strength WITH volume levels is through the analysis of ETF’s.  A couple years ago this was not possible, but as more traders/investors use ETF’s they become a much better tool for guaging the health of the market and seeing where the money is flowing (or not flowing).  Using the proprietary SelfInvestors Demand Indicator score which measures price and volume movements, I’m able to quickly see which sectors/industries are seeing the greatest inflows of cash. 

* Leading Sectors/Industries – Consumer Discretionary, Technology, Pharma, Financial, Retail
* Lagging Sectors/Industries – Energy, Energy, Energy.. and Energy AND Gold.

* Today, Homebuilders, Broadband and Retail are surging again just as they did yesterday; Transports and Consumer Discretionary are also moving up today with volume
* Energy is getting hit once again today.. along with Utilities

** Stocks **

This area still under development.