Jerry Samet
12-19-2023, 06:22 PM
The market continued its positive action today with solid gains. The major averages opened slightly higher and worked their way up most of the remainder of the day. Late buying saw all the major averages finish at their intraday trading highs. The small and mid-cap stocks were the strongest. The COMPQ and the NDX gained .66% and .49% respectively. The SPX was higher by .59%. Volume was lower across the board. We will likely see light volume through the end of the year as market participants take time off. Leading stocks had good gains with the leaders index rallying 1.58% on the day. The index closed high in its trading range on lower and below average volume. The market put in another good session today as the rally continued. The rally seems to be broadening out as the small and mid-cap stocks showed strong gains. Market internals were also very strong today. The market has rallied a lot in recent days and weeks and is due for a rest. I suspect that the rally will continue through year end before any serious consolidation happens. Right now it is a very nice rally and you should be heavily if not fully invested. Jerry