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1 Attachment(s)
Leaders Index 2-9
The market sold off at the opening and again spent most of the day recovering those losses. The major averages closed mixed to slightly higher and closed near the highs of the day. Volume was flat on the NYSE and up a bit on the Nasd. The pattern of opening weak and closing strong continues, which is positive for the rally. Leading stocks again performed well with the leaders index rising 1.04% on very strong volume. It continues to rise above it's 9dma. Both the index and it's RS line made new highs for the move today. The fact that quality stocks continue to break out and act well along with good action in the major averages says that the rally is still in good shape. Jerry
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[QUOTE=Jerry Samet;20422]The market sold off at the opening and again spent most of the day recovering those losses. The major averages closed mixed to slightly higher and closed near the highs of the day. Volume was flat on the NYSE and up a bit on the Nasd. The pattern of opening weak and closing strong continues, which is positive for the rally. Leading stocks again performed well with the leaders index rising 1.04% on very strong volume. It continues to rise above it's 9dma. Both the index and it's RS line made new highs for the move today. The fact that quality stocks continue to break out and act well along with good action in the major averages says that the rally is still in good shape. Jerry[/QUOTE]
Jerry,
I sense that in most sectors there is a marked slowing. Is your index overweighted in technology perhaps ?
Trev
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Trev, the index is pretty well spread out. It contains stocks in 18 different industry groups so one group or sector will not kill it. I put up a list of stocks in the index when I posted the new one so you can look and see exactly what is in it. Jerry
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[QUOTE=Jerry Samet;20442]Trev, the index is pretty well spread out. It contains stocks in 18 different industry groups so one group or sector will not kill it. I put up a list of stocks in the index when I posted the new one so you can look and see exactly what is in it. Jerry[/QUOTE]
Thanks Jerry.
Trev
