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View Full Version : Leaders Index 10-31-17



Jerry Samet
10-31-2017, 06:15 PM
The market put in a solid rally session today. The major averages were higher most of the day until a little late weakness saw them close just off their intraday trading highs. The Nasd averages again showed the most strength with the COMPQ and the NDX higher by .43% and .34% respectively. The New York averages lagged with the SPX gaining .09%. The semiconductor stocks continued their outperformance as the SOX rallied .77% and made a new all-time high, along with the Nasd averages. Volume was higher and well above average on the New York and very close on the Nasd. Esignal had it very slightly lower, but it was close enough to show different results from different data feeds. Leading stocks had another good day with the leaders index gaining 1.79% on the day. The index finished the session at new highs on both a closing and an intraday basis. The relative strength line of the index is pointing almost straight up, showing the outperformance of top quality stocks. Volume was higher and above average. This is good as we are seeing higher volume on up days than we are seeing on consolidation days. It seems that the tech stocks have regained their leadership as the Nasd averages, which are tech heavy, are leading the New York averages. This is generally a healthy sign. The picture looks positive right now and it looks like the market wants to go higher. Jerry