Jerry Samet
02-11-2025, 06:28 PM
The market had a pretty much flat to down session today. The major averages opened lower and mostly traded around unchanged. The New York averages were little changed while the NASD averages were lower. The New York averages finished high in their trading ranges while the NASD averages closed in the lower half of their trading ranges. The COMPQ and the NDX fell .36% and .29% respectively. The SPX was flat with a gain of .03%. Volume was lower on the NASD and about flat on the New York. Leading stocks were lower on the day. The leaders index fell 2.13% on the day. The index closed in the lower half of its trading range on higher and above average volume. The index tagged but held its short term 9dma. The market was pretty quiet overall today. The major averages were not that much changed although the NASD averages gave up a little ground. We remain stuck in this trading range. It is a difficult market as sideways action is the hardest to navigate. There are a lot of whipsaws and they can add up, both financially and psychology. I don’t really know where the market is going to go from here. If it is to continue higher it must break decisively above the current trading range. If it can’t the final outcome would likely be down. The CPI report comes out tomorrow before the open. Hopefully it will be friendly. Jerry