Leaders Index 9-10-15

We had another wild ride today with the major averages opening a bit higher. They then staged a solid rally and it looked like the market would have solid gains. Most of those gains were then lost and then a little late strength allowed the major averages to finish near the middle of their intraday ranges. The COMPQ gained .84% while the SPX was up .53%. Volume was mixed(according to esignal), higher on the New york and lower on the Nasd. Leading stocks were mixed. The latest leaders index was down 2.64% on the day on lower volume. Most of this decline was due to the 17.39% decline in EFOI. A smaller index means each stock has more influence. Today’s action continues the recent up and down action that is difficult to trade in either direction. The follow through that occurred two days ago looks like it s in serious trouble. The sidelines remain the place to be. Jerry