Leaders Index 7-2-15

The market had a quiet session yesterday. After opening higher the major averages sold off until a little late strength saw them close off their lows. The COMPQ declined .08% while the SPX fell only .03%. Both closed in about the middle or lower half of their intraday trading ranges. Volume was lower across the board, as would be expected before a long holiday weekend. Leading stocks treaded water as well with the leaders index off by .10% on very low volume. The index tagged the it’s 50dma again but closed above this important moving average and in the upper half of it’s intraday range. The index is still trading between it’s 50dma underneath and the 9dma above. Breaking the 50dma would be very negative while climbing above the 9dma would be positive. The vote in Greece on Sunday should set the tone for trading on Monday, at least early. There could well be a gap in either direction. Jerry