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View Full Version : Leaders Index 1-20-15



Jerry Samet
01-20-2015, 11:39 PM
The market had an up and down session today. The major averages opened strong, sold off until they had some real losses and then rallied into the close to finish in the upper half of their intraday trading ranges. The gains were not generally impressive. The COMPQ had the best gains, rallying .44% while the SPX rose .15%. Volume was mixed, higher on the Nasd and lower on the New York. All the major averages remain below their important 50dma’s. Leading stocks had a better day than the overall market with the leaders index rising 1.62% on slightly lower and below average volume. The index regained it’s 17dma and closed in the upper half of it’s intraday trading range. Much of this gain came from three stocks in the index, TASR, ILMN, and SMCI. The relative strength line of the index made a new high, a positive sign. Overall the market remains lackluster. Few breakouts are producing any worthwhile gains, and at the end of the day this is the most important thing. The major averages remain below their 50dma’s. Getting above this important moving average with conviction is critical. If they can do this the market has a chance to rally higher, if not it will likely sell off further. Jerry