Jerry Samet
06-04-2018, 06:12 PM
The market staged another solid session today. After opening higher the major averages either built on those gains, in the case of the Nasd averages or held them as the New York averages did. The Nasd averages led again as big cap tech stocks were strong. This shows up in the .84% gain for the NDX and the .69% rally in the COMPQ. The SPX posted a solid .45% gain. All the major averages closed at either e high of their intraday trading ranges or high in the range. This is encouraging. Volume was slightly lower than Friday across the board. Leading stocks did well also with the leaders index rallying 1.41% on the session and closing at new highs on both a closing and an intraday basis. This is want you want to see, quality growth stocks leading the market higher. The index closed high in its trading range and volume was lower and slightly below average. The market is acting very well right now. I said before that we needed to see the major averages get back into new high ground to match the leaders index and the small cap stocks. The Nasd averages did that today. They finished at new highs on a closing, but not an intraday level. The New York averages continue to lag. Quality growth stocks are producing worthwhile gains and in the end that is what counts. The recent buy signal in the weekly Coppock seems like it is working again. Jerry