Jerry Samet
08-19-2025, 06:13 PM
The market sold off today in its first really negative session. The major averages opened lower and sold off the rest of the session. All the major averages finished low in their intraday trading ranges. The COMPQ and the NDX fell 1.46% and 1.39% respectively. The SPX lost .59%. Volume was higher across the board, producing a distribution day on all the major averages. Leading stocks were hit hard today. The leaders index fell 3.58% on the day. The index closed low in its trading range on higher and above average volume. The index also broke decisively below its important 17dma. The market sold off pretty hard today in the first real negative session in a while. The market was weak all day and closed on its lows, a bad sign. There was also a distribution day on all the major averages, and they are starting to add up on the SPX. Leading growth stocks were hit hard in their worst session in a while. Quality growth stocks breaking down is not a good sign for the rally. The rally appears to be under some stress, but has not broken badly. It is looking like the market is going to have some sort of a pullback here. It is a seasonally weak period and some corrective action in the short term appears more likely. Jerry