Jerry Samet
04-13-2026, 06:06 PM
The market opened moderately lower, but quickly found a bottom and rallied the rest of the day. All the major averages finished near the top of their intraday trading ranges. The COMPQ and the NDX gained 1.23% and 1.06% respectively. The SPX gained 1.02%. Volume was mixed, higher on the New York and lower on the NASD. Leading stocks were strong as well. The leaders index gained 2.58% on the day. The index closed high in its trading range on higher and above average volume. This is a new high for the index on both a price and a relative strength basis. The market showed some real positive action today. Over the weekend the talks produced nothing and there is now a blockade of the Straight of Hormuz. This news would recently have caused a big market selloff, and indeed the futures overnight were showing big losses. They moderated by the open and after a lower open there was a strong rally. It also closed strong. The evidence that we are going to see a tradable rally is building fast. Today’s action was very encouraging. The market reacted well to bad news. This is almost always a good sign. The weekly Coppock will confirm its upturn last week, barring a large selloff before the end of the week. Increased exposure is warranted. Jerry