Jerry Samet
05-07-2024, 06:18 PM
The market traded little changed most of the day before finishing mixed. The New York averages closed with small gains and in about the middle of their intraday trading ranges. The Nasd averages finished with small losses and low in their trading ranges. The COMPQ and the NDX fell .10% and .01% on the day while the SPX gained .13%. Volume was higher across the board. Leading stocks were a bit lower with the leaders index declining .64% on the day. The index closed low in its trading range on higher but below average volume. The market mostly took a break today after recent gains. It was a quiet session overall with the major averages trading little changed all day. Volume was higher and it would have been better if it were lower, but you can’t have everything. The market’s recent attempt to move higher basically continues. It is a somewhat contradictory situation as some important indicators have turned positive while others have not. Cautious participation is probably a good choice. Jerry