Jerry Samet
12-12-2023, 06:28 PM
The market had another solid session today. The major averages opened a little lower but quickly found a bottom and rallied the rest of the session. All the major averages finished near their intraday trading highs. The COMPQ and the NDX gained .70% and .82% respectively. The SPX was higher by .46%. Volume was mixed. It was lower on the Nasd and fractionally higher on the New York, according to ToS. Leading stocks rallied as well with the leaders index gaining .75% on the day. The index closed high in its trading range on higher and about average volume. This was a new high for the leaders index. The market put in another solid session today. The CPI report was not far from expectations and showed inflation continued to moderate. After some early weakness the major averages turned around and rallied nicely. The small and mid-cap stocks were left behind as they showed small losses. All the major averages made new highs for the move and have overcome the highs from last July. The market is looking strong and while it has come a long way in a short time, there are few red flags out there. Jerry