Jerry Samet
04-25-2017, 06:30 PM
The market posted another strong rally session today, building on yesterday’s gains. The major averages opened higher and rallied into the close. All the major averages finished at or very near their intraday trading highs. The COMPQ closed with a gain of .70% while the SPX was higher by .61%. The greatest strength was in the small caps and the semiconductors. Volume was slightly higher across the board, according to Esignal, but the difference on both exchanges was very small. Leading stocks were higher as well with new highs in many names. The leaders index was down by .26% on the day because of a 15.67% fall in WLDN. Without this stock the index would have been up by 1.14%. Volume was a bit higher and above average. Many other components of the index showed nice gains and it is encouraging that the index could maintain such a small loss with one of its members getting hit so hard. The action of the market today was very positive. Many of the major averages, from large cap to small cap broke into new high ground on higher volume. For two days in a row a strong open was either held of improved upon. The market clearly wants to go higher. Jerry