Leaders Index 1-11-17

After opening higher and showing solid gains the major averages sold off pretty hard for a short period before recovering most of its early gains and close at their intraday trading highs. The COMPQ finished with a gain of .21% while the SPX rallied .28%. Volume was mixed, higher on the Nasd and lower on the New York. The NDX made a new high today while the COMPQ missed it by less than a point. Leading stocks were mixed on the day with the leaders index lower by .25%. Most of this decline was caused by LMAT, which fell almost five percent. The index closed near the top of its trading range and volume was lower than yesterday and below average. The market showed some resilience today after it recovered from the morning sell off. The charts of the major averages look fine and the leaders index is still holding its break into new high ground. The rally still looks like it is on solid ground and the market should work its way higher in at least the short term. Jerry