Jerry Samet
09-10-2025, 06:19 PM
There was no update yesterday due to a data problem at HGSI. The market had a mixed session today. The major averages opened higher on the friendly PPI report, but selling came in and lasted most of the remainder of the day. Despite some late strength all the major averages finished low in their intraday trading ranges, but with modest gains. The New York averages led the way with the SPX gaining .30%. The NASD averages were little changes as the COMPQ and the NDX rallied only .03% and .04% respectively. Volume was lower across the board. Leading stocks had a pretty good day. The leaders index gained 1.60% on the day. The index closed in about the middle of its trading range on slightly higher volume. This was a new high for the index on both a price and a relative strength basis. The market opened higher after the PPI report came in below expectations. The major averages set new highs on the day, but the selloff from the highs was a bit disappointing. It was a mixed session with most of the action in the big cap tech stocks after ORCL’s earnings report yesterday. Market internals were mixed and the equal weighted ETFs of the NDX and the SPX were down on the day. There are mixed signals out there, but the market continues to work its way higher. You would have liked to see a stronger close after the early strength, but it didn’t happen. The rally remains on solid ground, but it is struggling to make a decisive break above its recent consolidation. The CPI comes out before the open tomorrow, hopefully it will be a friendly report. Jerry