Jerry Samet
06-07-2017, 06:03 PM
The market bounced around a bit today, but when it was over there were modest gains all around. The Nasd averages led the way with the COMPQ up by .36% and the NDX higher by the same amount. The New York averages lagged with the SPX gaining .16%. All the major averages closed at their intraday trading highs, a sign of support. Volume was mixed, lower on the Nasd but still above average and higher on the New York. Leading stocks also performed well with the leaders index gaining .60% on the session. The index made new highs on both a closing and an intraday basis and closed high in its trading range. The relative strength line of the index also is in new high ground. The market is acting well right now. After a couple of days of consolidation to digest recent gains it started moving higher again today. Volume was not bad, higher on the New York and lower but still above average on the Nasd. The rally looks like it is on solid ground. The election in England and Comey’s testimony are tomorrow and may cause some volatility, but the picture still looks positive. Jerry