The market put in a pretty positive session today. After a little early weakness the major averages turned around and rallied nicely. All the major averages finished high in their intraday trading ranges. The COMPQ and the NDX gained .53% and .58% respectively. The SPX rallied .32%. Volume was mixed, higher on the New York and close on the NASD. Leading stocks were higher as well. The leaders index gained 1.36% on the day. The index closed high in its trading range on very low volume. The market put in a pretty solid session today. After NVDA’s earnings were good but didn’t blow the doors off as it has recently, some decline was likely. Instead the market rallied and put in a good session. Most of the major averages are at new highs and the rest are very close. It is encouraging when the market reacts well to what would be considered negative news. There was some positive economic news but the earnings were the main event. Right now the market is acting well and the rally is on solid ground. There will be no update tomorrow. Jerry
Reply With Quote