Jerry Samet
03-04-2025, 05:52 PM
The market had another tough session today. The major averages opened lower and went to some decent losses. A rally attempt failed and late selling saw all the major averages finish in the lower half of their intraday trading ranges. The NASD averages were a little better today with the COMPQ and the NDX lower by .35% and .36% respectively. The SPX declined 1.22%. Volume was higher across the board. Leading stocks were lower as well. The leaders index fell 1.14% on the day. Volume was higher and above average while the index closed in the upper half of its trading range. The market is showing real weakness right now. After the big recent declines you would expect to see some kind of bounce. We have not gotten one yet. The declines were smaller today, but even a rally attempt midday faltered by the close. The major averages are now dancing with their 200dma’s. The COMPQ actually closed below this important moving average today. We are likely due for some kind of snap back rally, but it probably won't be more than that. Things look pretty ugly right now. Jerry