Jerry Samet
10-23-2024, 06:19 PM
The market took it on the chin today with all the major averages showing solid losses. The major averages opened lower and spent most of the day working their way down. The NASD averages were the weakest with the COMPQ and the NDX falling 1.60% and 1.55% respectively. The SPX lost .92%. All the major averages finished in the lower half of their intraday trading ranges. Volume was mixed, higher on the New York and lower on the NASD. Leading stocks were mixed. The leaders index was higher by .68% on the day . It closed in about the middle of its trading range on higher but below average volume. The market took its biggest hit today in a while. There were large price declines on mixed volume. Market internals were negative today, but important support held. The day’s action was not fun if you are long, but it did limited damage. The charts of the major averages and the leaders index still look ok. After the close TSLA reported and is higher while NOW reported and is lower. The futures are higher ads of this writing. The rally remains on solid ground. Jerry