The market pretty much treaded water yesterday, but it held on to the large gains of Thursday, which is positive. The major averages opened higher but saw their intraday highs early, mostly going sideways the rest of the session. All the major averages finished low in their intraday trading ranges. The Nasd averages were lower with the COMPQ and the NDX off by .28% and .27% respectively. The SPX was higher by .03%. Volume was lower across the board. Leading stocks were higher on the day with the leaders index gaining .82% on the day. The index closed in the upper half of its trading range on higher and well above average volume. The market acted pretty well yesterday. It held the strong gains after NVDA’s earnings report. This is encouraging action. The rally is approaching four months old, so it is getting up there, but it doesn’t seem to want to end yet. We are clearly closer to the end than the beginning, but it doesn’t look like the end is here yet. Jerry
Reply With Quote