Leaders Index 12-21-16

It was a quiet session today with the major averages trading in a tight range. There was an overall downward bias the entire session and the major averages closed at or near their intraday trading lows. The COMPQ declined .23% while the SPX fell .25%. Volume was lower across the board as holiday trading levels seem to be setting in. Leading stocks were lower as well with the leaders index closing about in line with the overall market, down .29%. The index closed in about the middle of its trading range and volume was lower and well below average. The market continues to consolidate its recent gains in a fairly constructive manner. The major averages and the leaders index are holding their short term moving average support levels. Trading will likely be light through the holidays, but this time of year usually has an upward bias. Jerry