Jerry Samet
03-17-2026, 06:09 PM
The market had a moderately positive session today. The major averages opened with nice gains, but made a high early and mostly worked their way lower from there, but still finishing with decent gains. The COMPQ and the NDX rallied .47% and .51% respectively. The SPX was higher by .25%. Volume was mixed, down on the New York and up on the NASD. Leading stocks had a good session as well. The leaders index gained 2.14% on the day. The index closed high in its trading range on lower and below average volume. The index has now cleared all its short term moving averages. The market had a good session overall today. The later selling was a bit disappointing, but overall it wasn’t a bad session. Market internals were positive and the equal weighted ETFs of the major averages did well. We remain in a range driven market that is heavily affected by oil prices and news from the middle east. We could get a follow through any day now on the COMPQ and a couple of days from now on the SPX. The issue right now is that a news and volatility driven follow through could be quickly reversed. There are a lot of pieces falling into place, but right now I am looking to the weekly Coppock to confidently confirm a rally. The Fed announcement comes out tomorrow. It is pretty certain that there will be no rate change, but the press conference is potentially a wild card. MU also reports after the close. Jerry