Jerry Samet
08-14-2025, 06:11 PM
The market took a rest today after recent positive action. The PPI came in higher than expected and the major averages opened lower. They recovered early losses and all the major averages finished little changed and in the upper half of their intraday trading ranges. The COMPQ and the NDX declined only .01% and .07% respectively. The SPX was higher by .03%. Volume was mixed, up on the NASD and down on the New York. Leading stocks were lower on the day. The leaders index fell 1.18% on the day. The index closed in about the middle of its trading range on lower and below average volume. The index broke below its 9dma but held its important 17dma. The market did pretty well today overall. The PPI report came in higher than expected and that could have caused a selloff. There was some selling early but it wasn’t to strong and the major averages recovered to close near unchanged. They also finished high in their trading ranges, a sign of support. Market internals were weak today, but they have been good in recent trading. The New York A/D line made a new high yesterday. The market reacted pretty well overall to bad news, and that is a sign of strength. The rally appears to be on solid ground. Jerry