Jerry Samet
01-10-2024, 06:31 PM
The market put in a solid session today as it awaits important news in the next couple of days. The major averages opened higher and mostly worked their way up the rest of the day. All the major averages finished near their intraday trading highs. The COMPQ and the NDX gained .79% and .69% respectively. The SPX rallied .57%. Volume was lower across the board. Leading stocks were higher as well with the leaders index gaining.60% on the day. The index closed high in its trading range on higher and above average volume. It was a good session with good gains in the major averages and leading stocks. The leaders index made a new high today on higher volume, an encouraging sign. The major averages are close to recovering the lost ground of the recent pull back and are approaching the old and all time highs. The CPI report comes out tomorrow before the open and on Friday earnings season kicks off with several big bank stocks reporting. These reports can affect the market, but right now the rally looks like it is doing fine. Jerry