Jerry Samet
10-01-2025, 06:23 PM
The market opened lower after the government shut down last night. It didn’t last as the major averages put in a bottom pretty quickly. They then rallied into the close and finished near their intraday trading highs. The COMPQ and the NDX gained .42% and .49% respectively. The SPX was higher by .34%. Volume was higher across the board, although by just a bit on the New York. Leading stocks had a good session as well. The leaders index gained 1.31% on the day. The index closed high in its trading range on slightly lower and about average volume. This is a new high for the index on both a price and a relative strength basis. The market sold off at the open, likely due to the government shut down. The reaction was overall a good thing. After selling off early the major averages changed course and ended up with decent gains across the board. Several of the major averages made new highs today. The market reacted well to bad news, and that is a good thing. Market internals were moderately positive today and leading stocks are acting pretty well, as can be seen in the leaders index. Hopefully that will continue and help solve the potential divergence issue I talked about yesterday. There will be no update tomorrow in observance of the Yom Kippur holiday. Jerry