Jerry Samet
12-18-2023, 06:22 PM
The market was moderately higher today, continuing the recent rally. The major averages opened higher and mostly worked their way up the rest of the session. All the major averages finished high in their intraday trading ranges. The COMPQ and the SPX gained .61% and .64% respectively. The SPX rallied .45%. Volume was lower across the board, as you would expect after an expiration day. Leading stocks were strong today with the leaders index rallying 1.53% on the day. The index closed high in its trading range on lower and below average volume. This is a new high for the index on both a closing and an intraday basis. The market had a moderately positive session, building on recent gains. The action continues the rally and frankly everything looks pretty good right now. The market has come a long way in a short time so some consolidation or mild pullback would be expected soon and would likely be a positive thing. Right now everything looks good and the rally is on solid ground. Jerry