Leaders Index 2-1-24

The market rebounded today after yesterday’s weakness. The major averages opened higher and mostly worked their way up the rest of the session. The COMPQ and the NDX gained 1.30% and 1.21% respectively. The SPX rallied 1.25%. Volume was mixed, slightly higher on the New York and lower on the Nasd. Leading stocks gained as well with the leaders index higher by 1.45%. The index closed in the upper half of its trading range on lower but well above average volume. After yesterday’s selloff the market bounced and recovered a good deal of yesterday’s losses. All the major averages finishing near their highs is also a good sign. I would have preferred to see stronger volume, but you can’t have everything. The earnings reports after the close today were generally well received. META and AMZN are showing nice after hours gains while AAPL is down slightly. The employment report comes out tomorrow before the open and that will also potentially move the market if it deviates much from expectations. Right now the rally looks like it remains on solid ground. Jerry