Jerry Samet
12-12-2024, 07:09 PM
The market had a moderate pull back today after yesterday’s advance. The major averages opened lower and mostly worked their way down all day. All the major averages finished low in their intraday trading ranges. The COMPQ and the NDX lost .66% and .68% respectively. The SPX declined .54%. Volume was mixed, higher on the NASD and lower on the New York. This produced a new distribution day on the major averages. Leading stocks sold off as well with the leaders index falling .92% on the day. The index closed in the lower half of its trading range on lower and below average volume. The market had a moderate pullback today. The major averages showed modest losses while leading stocks were also lower but not to badly. The higher volume on the NASD caused a new distribution day, but the overall count is still pretty low. The market is acting well overall and there is little evidence that the rally is in real trouble. You should be invested pretty heavily right now. Jerry