Jerry Samet
04-28-2025, 06:20 PM
The market was volatile today but staged a late reversal to eliminate earlier losses. The late buying saw all the major averages finish high in their intraday trading ranges, but little changed. The COMPQ and the NDX were lower by .10% and .03% respectively. The SPX was higher by .06%. Volume was mixed, slightly lower on the New York and a lot higher on the NASD. Leading stocks gained as well. The leaders index gained .87% on the day. The index closed high in its trading range on lower and below average volume. It continued to rally above the 50dma that it regained on Friday. The market looked like it would have a good sized decline before the major averages reversed higher. They closed little changed. The market is continuing to try to rally after recent positive action. The reversal today was nice and there are positive signs out there. So far earnings season has been good, although the biggest week of the season is here as several potentially market moving reports are coming out this week. In addition the weekly Coppock has started to curl, indicating a potential turn. It could still keep going down, but this could also lead to a signal. There are also some worrisome It remains a difficult items also, like few breakouts producing worthwhile gains. It’s a tough market that could really go either way at this point. There is a lot of news this week. It’s ok to have some positions here, but dance close to the exits. Jerry