Jerry Samet
03-28-2020, 11:52 AM
The market opened lower yesterday and after bottoming early rallied a good part of the remainder of the session and cut early losses. There was a late sell off that saw all the major averages finish at or very near their intraday trading lows. The COMPQ and the NDX lose 3.79% and 3.91% respectively. The SPX declined 3.37%. Volume was lower across the board. It fell 20.93% on the New York and 1.72% on the Nasd. Leading stocks sold off as well with the leaders index falling 5.17% on the session. The index closed near the bottom of its trading range on lower and below average volume. The market sold off after a three day rally. Volume was lower which showed that large institutional players were not heavy sellers of stocks yesterday. The current rally attempt is still in effect and we are waiting to see if there will be a follow through. Jerry