Jerry Samet
07-31-2023, 06:29 PM
The market finished moderately positive today. After opening a bit higher the major averages mostly went sideways the rest of the day. Some buying came in during the last ten minutes of trading and all the major averages finished high in their intraday trading ranges. The COMPQ and the NDX gained .21% and .04% respectively. The SPX gained .15%. Volume was higher across the board. Leading stocks were higher as well with the leaders index gaining 1.20% on the session. The index closed high in its trading range and is almost back to its recent highs. The market acted pretty well overall today. Some late buying came in and allowed the major averages to close strong. That combined with the higher volume produced some encouraging action. Market internals were also pretty strong today. There is a pretty full calendar of news this week, starting with earnings reports from several important companies and going into the employment report on Friday. The overall picture still looks good and even if there is some short term weakness, that is all it is likely to be. Jerry