Jerry Samet
04-01-2019, 07:41 PM
The market put in another strong performance today. The major averages opened strong after good economic news from China that was followed by better than expected economic reports on the American economy. The Nasd averages were a little stronger with the COMPQ and the NDX gaining 1.29% and 1.35% respectively. The SPX rallied 1.16%. semiconductors showed unusual strength with the SOX higher by 2.49%. All the major averages finished at their intraday trading highs, a sign of support. Volume was slightly higher across the board, according to Esignal. Leading stocks were higher but overall the gains were not as strong as he major averages. The leaders index rallied .94% on the day and closed high in its trading range. Volume was a bit lower than Friday. The action of the market was very positive for the second session in a row. It looks like the market is overcoming the weakness it has displayed for the last week and a half and may make a run for its old highs. The major averages and the leaders index are just below the highs of before the recent weakness. The first step is to break above these levels and then see if they can reach the all-time highs made late last year. Today’s rally on higher volume is positive action and we will have to let the market tell us if it can make it to new highs. Jerry