Jerry Samet
09-25-2024, 06:19 PM
The market took a break today with small moves all around. The major averages opened a little higher but spent the rest of the session working their way lower. All the major averages finished low in their intraday trading ranges. The COMPQ and the NDX gained .04% and .14% respectively. The SPX declined .19%. Volume was lower across the board. Leading stocks were mixed today, but the leaders index rose and made a new high. The index gained .36% and closed in about the middle of its trading range. Volume was lower and well below average. The market mostly had a quiet session today with small price movements in lower volume. The rally looks like it is on solid ground right now. It is slowly working its way higher, but not yet showing strong gains. Leading stocks are acting well as can be seen in the leaders index. It set a new high on both a price and a relative strength basis. It is positive when quality growth stocks are outperforming the overall market. Right now we are heading into a seasonally positive time and the weekly Coppock is looking like it could signal in the next few weeks. Either could provide a catalyst to a strong rally. Right now the market is acting pretty well. I will be away for a few days. The updates will resume next Wednesday. Jerry