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View Full Version : Leaders Index 3-2-16



Jerry Samet
03-02-2016, 07:18 PM
The market had another solid session today. After spending much of the day bouncing around unchanged with small losses and small gains some late strength saw all the major averages finish at their intraday highs. The SPX led the way with a gain of .41% while the COMPQ rallied .29%. Volume was lower across the board, showing that large institutional players were not selling into yesterday’s gains. Leading stocks were higher as well with the leaders index gaining .24% on pretty low volume. It was lower than yesterday and well below average. The index made a new price high today although the relative strength line was lower, showing that quality growth stocks underperformed the overall market. The fact that the market was able to constructively consolidate yesterday’s large gains is encouraging. The lower volume while it is consolidation is also positive. The market is acting like it wants to go higher, at least in the short term. Attractive stocks are still hard to find, but a few more are appearing. Now that the major averages look like they have successfully cleared their 50dma’s, the next big hurdle is their declining 200dma’s. Some exposure is probably warranted here. Jerry