Jerry Samet
03-18-2026, 06:06 PM
The market sold off pretty hard today. The major averages opened lower and it was mostly downhill from there. All the major averages finished low in their intraday trading ranges. The COMPQ and the NDX lost 1.46% and 1.43% respectively. The SPX declines 1.36%. Volume was higher across the board, so there was distribution on all the major averages. Leading stocks were lower as well. The leaders index fell .16% on the day. The index closed low in its trading range on higher but below average volume. The market had a tough session today. A stronger than expected PPI report hurt, but the market didn’t get hit to badly until Powell started his press conference. It was all downhill from there. Rising oil prices didn’t help. The market is not acting well right now. The uncertainty from the war and oil prices makes this a difficult market. There is a lot of volatility and the major averages change directions on almost a daily basis. The pieces are in place for a new rally, but we are not there yet. The beach is nice right now. There will be no updates tomorrow or Friday. They will resume on Monday. Jerry