We got a nice rally in the market today.  One problem, volume was a joke.  I am looking for a follow through day from IBD.  Here is what they had to say about today’s action.

The Nasdaq flirted with a follow-through day Thursday, but volume failed to respond in kind.

Without a clear sign of institutional buying — i.e., higher volume — the market remains stuck in correction mode.

Volume was moderately lower on both major exchanges.

On Friday, the market will focus on the government’s data on October unemployment. The unemployment rate is expected to come in at 9.9%. The Street is watching the number as a gauge for future consumer spending.

I will highlight one of the leaders in the market tonight.

(AMZN: 139.14 +1.92) is tracing out a very nice looking bull flag pattern.  The stock gaped up after its earnings report late last month.  This stock is now in a light volume pullback.  A new buy area would be $125.78 on heavy volume.  Average daily volume is about 12.5 million shares per day.

With a good unemployment number, the market could be off to the races and we might get a follow through day.  I expect (AMZN: 139.14 +1.92) to be a leader if that happens, but I will let the market decide.

Happy hunting!