Jerry Samet
06-06-2018, 06:35 PM
The market staged another strong rally session today. After opening higher the major averages sold off a bit and the turned around and rallied for the rest of the session. The New York averages were the strongest today with the SPX gaining .86% and the INDU higher by 1.40%. The Nasd averages did well also with the COMPQ and the NDX higher by .67% and .60% respectively. All the major averages finished at their intraday trading highs, a sign of strength. Volume was higher across the board, just want you want to see on a rally day like today. Leading stocks had a good session as well with the leaders index rallying .71% and closing near the top of its trading range. Volume was lower than yesterday. This is a new high for the index on both a closing and an intraday basis. The action of the market in recent weeks has been excellent. The New York averages were, and continue, to lag but put in a good showing today. The Nasd averages moved nicely into new high ground and quality growth stocks are acting well. Not only are stocks producing good gains but as they move beyond buyable range new ones are coming forward to enter buyable territory. The market is acting very well right now. Jerry