Jerry Samet
09-16-2024, 06:19 PM
The market put in an overall moderately positive session today. The major averages were split with the SPX gaining .13% and the COMPQ and the NDX falling .52% and .47% respectively. All the major averages finished high In their intraday trading ranges. Volume was slightly lower across the board. Leading stocks rallied as well with the leaders index gaining .60% on the day. The index closed in about the middle of its trading range. The market put in a moderately positive session today. The major averages closed high in their trading ranges, showing late strength. The INDU made a new high, but no one really watched that index any more. The market is holding up as it tries to reassert itself. Some short term indicators I watch have turned up, but the market has reversed when it looked like it would get a head of steam going so who knows how far it will go. The Fed will make its announcement on Wednesday. A 25 basis point cut is most likely but 50 basis points is possible. That and the press conference will set the tone for trading this week. Jerry