Jerry Samet
09-24-2025, 06:11 PM
The market continued to pull back a bit today. The major averages opened mixed but mostly sold off during the day. They all closed in the lower half of their intraday trading ranges. The COMPQ and the NDX fell .33% and .31% respectively. The SPX declined .28%. Volume was lower across the board. Leading stocks were also lower. The leaders index fell 1.99% on the day. The index closed low in its trading range on lower and well below average volume. The market continued the pullback it started yesterday. The declines were pretty minor and the charts of the major averages remain ok. They are holding short term support. The market looks ok and the rally looks like it remains on solid ground. Market internals were negative again today, and that may be starting to be an issue. The NYSE D/D line did not make a new high along with the SPX last week. If this continues there could be a divergence that would be a cause for concern. Right now the market has come a long way in a pretty short period of time so some corrective action is likely. New buys should be made cautiously right now. I will be away for a few days. The updates will resume on Tuesday. Jerry