Jerry Samet
12-23-2023, 11:26 AM
The market was moderately positive yesterday in a quiet session. The major averages opened higher and mostly worked their way down the rest of the day. All the major averages finished in the upper half of their intraday trading ranges. The COMPQ and the NDX gained .19% and .12% respectively. The SPX rallied .17%. Volume was lower across the board, as you would expect on a Friday before a long holiday weekend. Leading stocks were slightly higher as well with the leaders index gaining .11% on the day. The index closed in about the middle of its trading range on lower and well below average volume. The market had a quiet session yesterday in the day before the Christmas break. Not much happened as many market participants took the day off. The rally remains on solid ground and the last week of the year is usually positive. There are few red flags out there right now and the rally will likely continue into next year. Being heavily invested is the correct plan and if your positions are working there is little to do but ride the advance. I suspect this rally will continue well into next year. I will be taking next week off so there will be no updates next week. I will however put up a year end update next weekend as I do every tear. I hope everyone has a good Christmas. Jerry