Jerry Samet
03-14-2026, 10:47 AM
The market went deeper into a correction yesterday. The major averages opened higher but selling quickly came in and lasted most of the day. All the major averages finished low in their intraday trading ranges. The COMPQ and the NDX lost .93% and .62% respectively. The SPX lost .61%. Volume was lower across the board, so there was no distribution. Leading stocks were mixed on the day. The leaders index was about flat with a loss of .01%. The index closed in the lower half of its trading range on higher but below average volume. The market continued lower yesterday in what is clearly a correction. The question now is how far the downturn goes. We can’t know in advance, but there are lines in the sand. The 8% level is key to corrections. Most are minor and small. If a downturn goes beyond this level the chances of an intermediate correction, or worse, increase dramatically. We have a little way to go before we reach this point. The beach is a good place to be right now. Jerry