Jerry Samet
04-21-2025, 06:20 PM
The market was hit hard again today mostly on a spat between Trump and Powell. The major averages opened lower and worked their way down most of the day. Late buying saw the major averages finish off their lows but still with substantial losses. The NASD averages closed in about the middle of their intraday trading ranges. The New York averages finished low in theirs. The COMPQ and the NDX fell 2.55% and 2.46% respectively. The SPX lost 2.36%. Volume was lower across the board. Leading stocks lost ground as well. The leaders index fell 4.15% on the day. The index closed low in its trading range on about flat and below average volume. The market took another hit today, mostly because Trump went after Powell. There was also more news on tariffs today. The market suffered heavy losses even after the late upturn. The market has been unable to produce any kind of positive action despite heavy selloffs. This is showing a lot of weakness. The inability to stage a decent rally shows that more weakness is likely. We are getting into the meat of earnings season with TSLA and GOOGL on deck tomorrow and Thursday. There are other important reports this week. We are in the middle of a bear market and messing around with it can cause real losses. Between all the news driving the market and earnings reports coming in the market will be very volatile in the short term. The beach is nice right now. Jerry