Jerry Samet
08-21-2024, 06:14 PM
The market put in a solid session today. The major averages opened higher but lost most of the gains after the Labor Dept. report. Before the close most of the losses were recovered and all the major averages finished high in their intraday trading ranges. The gains were pretty evenly divided with the COMPQ and the NDX higher by .57% and .53% respectively. The SPX gained .42%. Volume was mixed, higher on the New York and lower on the NASD. Leading stocks had a solid session as well with the leaders index gaining .64% on the day. The index closed high in its trading range on lower and below average volume. The market put in a solid up session today. Early gains were lost when the Labor Dept. report came out but they were mostly recovered by the close. The old highs will provide some resistance, but right now the rally is looking like it is on solid ground. Powell will speak on Friday and that could move the market, but right now it looks good. Jerry