Stocks End Nearly Flat; Volume Is Mixed

The indexes hovered around the break-even point much of Friday's session before settling narrowly mixed.

The NYSE composite and the Dow added 0.1% each. The S&P 500 and the Nasdaq were both fractionally lower.

Volume fell 4% on the Nasdaq and rose 7% on the NYSE. It was the second time last week that the NYSE composite and Dow indexes, neither of which is leading this uptrend, stalled with tiny gains in higher volume.

In Friday's edition, we noted that the S&P 500 was approaching a technical test near its previous high at 1150.45. While it passed it intraday, it couldn't hold the gain. The action, however, left it in position for a second try.

Friday marked exactly one year since the follow-through day that confirmed a new uptrend was under way. It proved to be the end of the bear market. After the follow-through day, the Nasdaq gained 66% through Friday, tops among the major indexes.

Although the Nasdaq's performance was impressive in the past 12 months, investors who bought top-rated stocks offering valid entry points conceivably could've done better.

Stocks that bagged huge gains in the past 12 months include China Automotive Systems (CAAS) (up 607%), Bucyrus International (BUCY) (380%), Intuitive Surgical (ISRG) (248%), Green Mountain Coffee Roasters (GMCR) (238%), Baidu (BIDU) (225%) and Apple (AAPL) ( 135%).

Of course, no one would've captured all of the gains in these stocks because waiting for a proper entry point naturally sacrifices part of the gain. The benefit to waiting is that you avoid losing money and time on issues that never finish a base and break out.

On Friday, breakouts were scarce.

Before Friday's open, some good news on retail sales rolled in. While the Street expected a slight dip in February retail sales, the sector delivered a 0.3% pop. Ex autos and gasoline, retail sales were up 0.9%, far above estimates.

The major indexes opened higher but the move didn't hold for long. A consumer sentiment gauge fell short of estimates and business inventories also disappointed.

Posted 05:10 PM ET

Stocks took a breather Friday, finishing little changed after a dull session. Mixed economic reports failed to move the major indexes much either way. Retail sales unexpectedly rose, but consumer sentiment surprisingly fell.

The Dow and NYSE composite inched up 0.1% each. The Nasdaq and S&P 500 both eased a fraction.

NYSE volume climbed, while Nasdaq trade fell.

Despite Friday's lack of action, stocks finished higher for the second straight week. The Nasdaq climbed 2% and Dow 0.6%. The NYSE composite and S&P 500 rose 1% each.