Jerry Samet
12-03-2024, 07:14 PM
The market has been fairly positive in the last few days. Today’s session was moderately positive and the major averages posted some gains. All the major averages finished high in their intraday trading ranges. The NASD averages led the way with the COMPQ and the NDX gaining .40% and .31% respectively. The SPX was higher by only .05%. Volume was lower across the board. Leading stocks had a strong session and outperformed the overall market. The leaders index gained 1.94% on the day. The index closed high in its trading range on higher but below average volume. The market is acting well overall right now. The rally looks good, but it s not really strong right now. The NASD averages made new highs today and the charts look good. Maybe the most positive thing right now is the outperformance of leading stocks. The leader’s index is making new highs on both a price and a relative strength basis. The market usually doesn’t get into too much trouble when leading stocks are strong. We haven’t seen a really strong year end rally yet, but there is time. The rally looks like it is on solid ground and riding winning positions is the way to go. I know I just came back from Thanksgiving break, but I will be away for a few days. The updates will resume on Monday. Jerry
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