Leaders Index 12-11-17

The market put in a pretty solid performance today. After opening higher the major averages spent the rest of the session working their way up. Late strength saw them all close at their intraday trading highs, a good sign. The Nasd averages led the way today with the COMPQ and the NDX gaining .51% and .78% respectively. The New York averages lagged with the SPX rallying .32%. Volume was higher on the New York and about unchanged on the Nasd. Leading stocks were higher as well with the leaders index gaining .36% on the session. The index closed high in its trading range and held above its 50dma support level. Volume was very light and well below average. The day’s action was generally good, but not to inspiring. The New York averages made new highs today, but the Nasd averages have a way to go. Leading growth stocks continue to lag the overall market and fresh buyable stocks continue to be light. We should see some real strength in the leaders index and Nasd averages with some real conviction to substantially improve the picture. Jerry