Jerry Samet
06-13-2024, 06:18 PM
The market put in a mildly positive session today. The major averages opened higher, sold off, but then recovered much of the decline before the close. The major averages all finished in the upper half of their intraday trading ranges. The COMPQ and the NDX were higher by .34% and .57% respectively. The SPX was higher by .23%. Volume was lower across the board. Leading stocks were moderately higher with the leaders index gaining .70% on the day. The index closed in about the middle of its trading range on lower and very light volume. The market built on yesterday’s gains, except for small and mid-cap stocks. The COMPQ ,NDX and SPX all made new highs. The PPI report came in friendly. The market is continuing to work its way higher. There are some issues with the rally and the NASD averages in particular are getting a bit extended in the short term, but the long side is the place to be right now. Jerry