Jerry Samet
07-11-2023, 06:28 PM
The market put in another overall positive session today. The major averages opened higher and mostly worked their way up the rest of the day. All the major averages finished near the top of their intraday trading ranges. The COMPQ and the NDX gained .55% and .49% respectively. The SPX was higher by .67%. Volume was mixed, lower on the Nasd and higher on the New York. Leading stocks took a break after yesterday’s strong action. The leaders index was off by .14%, but closed high in its trading range. Volume was lower and below average. The index made a new intraday high today. The market worked its way higher today before tomorrow’s CPI report. The action was positive as the major averages and the leaders index closed strong. Market internals were strong and there was accumulation under the surface. The small and mid-cap stocks continued strong and the RUT had a golden cross today. The inflation report tomorrow will set the tone for trading, but the rally appears to be on solid ground. Jerry