Jerry Samet
12-11-2023, 06:21 PM
The market rallied modestly today and closed with solid gains. The major averages opened lower and after bouncing around a bit started a rally that lasted into the close. All the major averages finished near the top of their intraday trading ranges. The COMPQ and the NDX gained .20% and .85% respectively. The SPX rallied .39%. Volume was higher across the board. Leading stocks gained as well with the leaders index higher by .23% on the day. The index closed high in its trading range on higher and below average volume. The market stages a positive session today with moderate gains in the major averages. Big cap tech stocks were mostly lower but the NDX still staged a good rally. The equal weighted QQEW also showed strong gains. All the major averages have now overcome their highs of last July and have made new highs for the year. The market is acting well and the rally is on solid ground. There is a lot of potentially market moving news this week with the CPI report tomorrow and the Fed announcement on Wednesday. Right now the rally is looking good and we should see higher prices ahead. Jerry