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View Full Version : Leaders Index 12-15-16



Jerry Samet
12-15-2016, 07:05 PM
The market rebounded from yesterday’s sell off. The major averages all posted solid gains, but they lost most of the early gains before the close. The COMPQ finished with a gain of .37% while the SPX rallied .39%. All the major averages closed in the lower half of their intraday trading ranges, a sign that market participants were selling into the rally. Volume was mixed on the day, higher on the Nasd and lower on the New York. This produced a stalling distribution day on the Nasd averages. Leading stocks were higher as well with the leaders index gaining .65% on the session. The index followed the pattern of the major averages and finished low in its trading range. It also was unable to break above its short term 9dma and 17dma. Volume was lower but still above average. It looked like a strong rally early, but the fact that most of the gains were lost is not encouraging. The charts of the major averages still look ok, but the leaders index is struggling. Another item to watch is the As minus Es that turned slightly negative today. In addition the summation index has turned lower. This doesn’t mean the rally is over, but they are some warning signs. Jerry