Jerry Samet
10-04-2025, 10:45 AM
The market put in a moderately positive session yesterday. The major averages opened a bit higher but then sold off. The major averages mostly closed little changed, with the NASD averages moderately lower. The COMPQ and the NDX fell .28% and .43% respectively. The SPX was flat with a gain of only .01%. Volume was higher across the board, producing a distribution day on the NASD averages and a stalling day on the SPX. Leading stocks were somewhat lower on the day. The leaders index fell .60% and closed in the lower half of its trading range. The market had a moderately positive session with some declines in the leading NASD averages, but market internals were positive. The rally had another up week and it continues to work its way higher. There was no employment report yesterday due to the government shut down and more economic reports may be delayed going forward. The rally remain on solid ground right now and should move higher. We are entering a seasonally favorable period for the market, but that doesn’t guarantee anything. The big concern right now remains the NYSE advance decline line. It didn’t maker a new high last week, but it is close. A break to a new high now would be encouraging. Jerry