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View Full Version : Leaders Index 11-5-14



Jerry Samet
11-05-2014, 11:29 PM
It was a divided market today. There was a strong open on all the major averages today in response to the election results. The entire gain took place in the first ten minutes of trading and then the markets diverged. The strength was in the New York averages while the Nasd and small caps lagged. The SPY closed the day up .57% and at the top of it’s intraday range. It also finished at a new all time high. The COMPQ declined .06% and finished near the bottom of it’s trading range. Volume was mixed, higher on the Nasd and lower on the New York. The higher volume was on the weaker averages. Leading stocks were generally weak today with the leaders index declining .96% on lower but still above average volume. The index closed below it’s short term 9dma and it’s relative strength line is showing weakness. The fact that quality growth stocks are now under performing the overall market something to watch, but is not enough to get to concerned about yet. The major averages are acting well and the leaders index is still consolidating recent gains. The distribution count is low so the long side remains the place to be. Jerry