Jerry Samet
01-28-2025, 07:04 PM
The market had a nice bounce today. The major averages opened higher and mostly worked their way up the rest of the day. All finished near their intraday trading highs. The NASD averages led the way with the COMPQ and the NDX gaining 2.03% and 1.59% respectively. The SPX rallied .92%. Volume was lower across the board. Leading stocks rallied as well. The leaders index gained 4.16% on the day. The index closed high in its trading range on lower and about average volume. The market staged a pretty nice bounce today. The major averages recover a bit over half of yesterday’s losses. Volume was lower but yesterday was a particularly high day. The rally was concentrated mostly in the big cap tech stocks that were hit yesterday. The equal weighted ETFs lagged badly. Earnings season kicks into high gear this week and next. Tomorrow three mag 7 stocks will report after the close. Any one could be a market mover. The Fed will also announce the results of its meeting. It is widely expected to hold rated unchanged, but the press conference is always a wild card. Keep your fingers crossed for strong earnings reports. Jerry