Jerry Samet
02-09-2017, 06:36 PM
The market had a solid rally today. After opening higher the major averages rallied the rest of the session and closed at their intraday trading highs. The COMPQ rallied .58% while the SPX gained the exact same amount. All the major averages made new highs today. Only the semiconductor stocks lagged, but they have been the strongest sector lately. Volume was slightly lower across the board. This is the only real negative today as you would like to see higher volume on a move into new high ground. Leading stocks were higher as well, although the leaders index lagged a bit, mostly due to a couple of components taking hits. The index was up by .11% on much higher and above average volume. The index closed high in its trading range and it held the short term 9dma well. The index has consolidated for the last three days after rallying, so it is acting well. The charts of the major averages look good. The Nasd averages are the strongest and have nicely rising patterns. The New York averages are finally moving into new high ground after struggling a bit. The Rally looks like it is on track at least for now. Jerry