All the major indices took on a distribution day today and the IBD 100 fell 2.4%. The distribution day count is raising, but as seen in the NASDAQ and S&P500 charts, we stayed about key support levels.
The action on Google and Apple (and Baidu) was also constructive, and may have room to grow higher if this rally can hold.
Leadership Stocks 
October 20, 2010 at 5:44 pm
Couldn’t agree more. Leaders in leading industry groups are also behaving constructively today. This rally may yet hold; watch those distribution days though. I’m not seeing climax runs everywhere which also makes me more comfortable going forward.