Jerry Samet
03-05-2025, 06:21 PM
The market had a nice bounce today. The major averages opened a bit higher and then bounced around for a while. News of some tariff exemptions sparked a rally and the major averages rallied to solid gains. All the major averages finished near their intraday trading highs. The COMPQ and the NDX gained 1.46% and 1.36% respectively. The SPX was higher by 1.12%. Volume was lower across the board, not what you want to see in a snapback rally. Leading stocks were also higher on the day. The leaders index rallied 1.88% on the day. The index closed high in its trading range on lower but above average volume. The market had a nice bounce today, at least on a price basis. There was an announcement of a delay in tariffs on auto products and it started a rally. The market closed strong, which it has not done in recent days. The real issue today was volume. It was lower on both exchanges. This is not encouraging action. You want to see strong volume on a rebound. It would not be surprising to see a rally of some sort here after the strong selloff we have just seen. It could even retrace a good portion of recent losses. Based on recent action I would not expect too much from it. Jerry