Jerry Samet
05-28-2024, 06:21 PM
The market had a mixed session today but with a somewhat positive ending. The major averages opened higher but bounced around until some late strength saw all the major averages finish high in their intraday trading ranges. The NASD averages led the way with the COMPQ and the NDX gaining .59% and .32% respectively. The SPX was about flat, closing up by .02%. Volume was higher across the board, as you would expect after a holiday weekend. Leading stocks were mixed. The leaders index gained .29% and closed high in its trading range on higher and above average volume. The market had a mixed session today with a positive bias, at least in the NASD averages. They led mostly thanks to strength in NVDA and the semiconductor group. The NASD averages made new closing highs and the SPX recovered some losses to close high in its trading range. Market internals were weak however. The rally continues, but it is not a strong rally. There are attractive stocks out there, but, aside from NVDA, few are producing strong gains. I would not expect to see significant gains here. The PCE is coming out on Friday and everyone is talking about it, as it could move the market. There is always some news or event out there to watch. Jerry