Jerry Samet
03-31-2026, 06:14 PM
The market rallied strongly today on news about the Middle East. The major averages opened higher and rallied throughout the day, finishing high in their intraday trading ranges. The COMPQ and the NDX gained 3.83% and 3.43% respectively. The SPX rallied 2.91%. Volume was higher across the board. Leading stocks had a very strong session. The leaders index gained 8.06% on the day. The index closed high in its trading range on higher and above average volume. The market rallied hard today, mostly on favorable news on the Iran situation, but also because it is very oversold. This was a news driven rally, so it should be taken with a grain of salt. We will have to see how far this bounce goes, but it was a welcome respite from recent selling. It doesn’t, however, change the overall picture. The 3.83% increase in the COMPQ is something to watch. 4% is a signal level as the vast majority of 4% plus moves occur in bear markets. The market will likely continue to be volatile as long as the conflict continues. I wouldn’t be surprised the market rally some more from here, but a real tradable rally is probably not here yet. Jerry