Jerry Samet
02-10-2025, 06:33 PM
The market had a solid session today. The major averages opened higher and mostly held the gains the rest of the day. All the major averages finished high in their intraday trading ranges. The NASD averages were the leaders with the COMPQ and the NDX gaining .98% and 1.24% respectively. The SPX rallied .67%. Volume was mixed, higher on the NASD and lower on the New York. Leading stocks had a strong session and outperformed the overall market. The leaders index gained 1.22% on the day. The index closed high in its trading range on lower but above average volume. This is a new high on both a price and a relative strength basis. The market had a pretty good session today, recovering a chunk of Friday’s losses. The major averages had good gains and closed strong. Volume was higher on the NASD which showed he best gains. Leading stocks also had a good day, again outperforming the overall market. The leaders index made new highs and breakouts are acting ok. We still have a lot of mixed signals. The rally is not that strong and we are getting whipsaw signals from several indicators. If the market is to move higher the major averages must rally into new high ground and break above the trading ranges they have been in since late last year. There are few potentially market moving earnings reports this week, but there are big inflation reports out on Wednesday and Thursday. Jerry