Jerry Samet
02-26-2025, 06:28 PM
The market tried to bounce early, but again it didn’t last. The major averages showed some early gains, but selling came in and they all finished low in their intraday trading ranges, but with small gains. The COMPQ and the NDX were higher by .26% and .22%. The SPX was flat with a .01% gain. Volume was lower across the board. Leading stocks had a solid bounce today. The leaders index gained .92% on the day. The index closed high in its trading range on lower but above average volume. The market had a moderately higher open, but lost most of the gains by the close. The major averages finished low in their trading range in another sign of weakness. NVDA reported after the close and the results were good but not a blowout. The stock is trading a little higher in after hours trading, as of this writing. After the intense selling of the last few days some sort of a bounce was inevitable. Today was a pretty weak one. Not much has really changed after today’s action. The NVDA earnings are looking like a mostly nonevent. Overall the market looks like it in some trouble. It can’t seem to rally out of the current sideways action and the pounding leading stocks took indicate that a quick return to a strong upturn is unlikely. We will likely continue in the current consolidation or head lower. Jerry