Jerry Samet
10-21-2025, 07:56 PM
The market had a mixed session today after yesterday’s gains. The major averages opened mixed and traded around unchanged most of the day. The New York averages showed small gains but closed in the lower half of their intraday trading ranges. The NASD averages had small losses but closed high in their trading ranges. The COMPQ and the NDX fell .16% and .06% respectively. The SPX was flat. Volume was higher across the board. Leading stocks were hit again with the leaders index falling 2.35% on the day. The index closed high in its trading range on about flat and very low volume. The market consolidated yesterday’s gains today in a quiet overall session. There were almost no changes in the major averages and the small changes prevented distribution. The market held up pretty well today, but there is one concern that seems to be building. Leading stocks, particularly in the strongest recent groups, have sold off hard in the last couple of days. Gold and nuclear stocks have been hit especially hard. Baskets of leading stocks have been hard hit and the leaders index has broken below its 17dma support level. It would be encouraging if these stocks recover quickly. Jerry