Jerry Samet
09-01-2021, 06:30 PM
The market opened higher and rallied for much of the day. Late selling came in and much of the gains were lost. The major averages were higher early and lost ground late in the session. All the major averages finished near the bottom of their intraday trading ranges, although still in positive territory. The Nasd averages were the strongest with the COMPQ and the NDX gaining .33% and .19% respectively. The SPX was up only slightly with a gain of .03%. Volume was higher across the board, according to Esignal. It was higher by 8.85% on the Nasd and 17.16% on the New York. The weak closes gave the major averages a stalling look to them. Leading stocks did pretty well today. The leaders index was higher by .99% on the day. The index closed high in its trading range and continued the sideways pattern of the last week. Volume was lower and among the lowest in a couple of weeks. Other quality growth stock ETF’s did well also. The market opened strong and continued to solid gains, especially the Nasd averages. Much of that was lost as selling came in and the major averages finished weak. There was stalling action in the major averages today. The Nasd averages still made new highs ion the day and the overall picture was not really changed by the late weakness. Leading stocks did well today and that is encouraging. The trend still appears to be up. Jerry