Jerry Samet
01-16-2025, 08:35 PM
The market had a moderately negative session today. The major averages opened a bit higher, but mostly sold off from there. All the major averages finished low in their intraday trading ranges. The COMPQ and the NDX fell .89% and .69% respectively. The SPX lost .21%. Volume was lower across the board. Leading stocks did well overall with the leaders index gaining 1.48% on the day. The index closed low in its trading range on lower and below average volume. The market pulled back today after yesterday’s gains. The SPX tagged its 50dma at its highs but was turned back. The COMPQ closed fractionally back below this important moving average. The market pulled back today, but it wasn’t too bad a session. Market internals were slightly positive overall and there was accumulation under the surface. Today’s action was moderately negative, but not to bad overall. The 50dma’s of the major averages are the next real hurdle all the major averages must break above this moving average. Jerry