Jerry Samet
05-20-2025, 06:38 PM
The market put in an overall positive session today. The major averages opened lower and were in negative territory virtually all day. Late buying saw all the major averages finish high in their intraday trading range. The COMPQ and the NDX lost .38% and .37% respectively. The SPX declined .39%. Volume was mixed, higher on the New York and lower on the NASD. That produced a distribution day on the New York averages. Leading stocks were moderately higher on the day. The leaders index gained .24% and closed high in its trading range. Volume was slightly lower and below average. The market actually acted pretty well today. The major averages seem to be consolidating its recent gains in a pretty constructive manner. We got a distribution day today, but the high close reduced the impact of it. The market continues to act well. The charts show the major averages are going sideways in the last few days. The action has been tight and the major averages seem to be developing attractive chart patterns. The rally is on solid ground and looks like it wants to go higher. Jerry