Jerry Samet
11-30-2023, 06:20 PM
The market traded mostly lower today until some late strength came in. The major averages finished mixed but high in their intraday trading ranges. The COMPQ and the NDX fell .23% and .25% respectively. The SPX was higher by .38%. Volume was higher across the board, producing a distribution day on the Nasd averages. Leading stocks continued strong with the leaders index gaining .48% on the day. The index closed in about the middle of its trading range on slightly higher and above average volume. The market mostly traded lower today until last buying came in. There were moderate gains in the New York averages and small losses in the Nasd averages. The small and mid-cap stocks did better again. It would be encouraging if the rally broadened out to include more stocks. There were more attractive breakouts today as leading stocks continued to do well. The leaders index is rising above its short term 9dma. The negative reversal we saw yesterday might lead to some short term consolidation in the major averages after they digest the strong gains of November. The rally looks like it remains on solid ground. Jerry