Jerry Samet
11-09-2024, 11:50 AM
The market continued its positive action yesterday, but with milder advances. The major averages opened little changed and mostly worked their way up the rest of the session. All the major averages finished in the upper half of their intraday trading ranges. The NASD averages took a rest with the COMPQ and the NDX gaining .09% and .07% respectively. The SPX rallied .38%. Volume was lower across the board. Leading stocks had a strong session with the leaders index gaining 4.71% on the day. The index closed high in its trading range on lower and below average volume. It was another solid up session for the rally. It was not as strong a session as the last three, but still had decent action. Market internals were positive, but the real story of the day was the action in leading stocks. There were very strong gains in the leaders index and ETFs of leading growth stocks. The NASD took a rest yesterday after three days of strong gains. The rally looks like it is on solid ground. Right now you should be invested and riding the wave. Jerry