Jerry Samet
02-19-2025, 06:28 PM
The market went mostly sideways today and closed mildly positive. The major averages opened a bit lower and mostly worked their way back to small gains. All the major averages finished high in their intraday trading ranges. The NASD averages lagged with the COMPQ and the NDX gaining only .07% and .05% respectively. The SPX rallied .24%. Volume was lower across the board. Leading stocks were lower today with the leaders index declining 2.24% on the day. The index closed in the lower half of its trading range on higher and above average volume. The index bounced off its short term 9dma. The market had a pretty quiet session today, but it had a somewhat positive tone. After a weaker open the market found a bottom and worked its way higher the rest of the day. We had another strong close. The short term indicators I look at are mostly moving higher and leading stocks are generally doing well. The market looks like it is having a bit of a hard time breaking soundly above the recent consolidation it has been in. It looks like it wants to break to the upside, but may need a push. Maybe next week’s NVDA earnings will do it. Jerry