Leaders Index 6-19-14

The market was pretty much flat today as the major averages consolidated yesterday’s gains in a constructive manor. They recovered from early weakness and the COMPQ finished .08% lower while the SPY was .13% higher. They both set new highs on an intraday basis and the SPY closed at the top of it’s intraday range while the COMPQ was in the upper half of it’s range. Volume was lower across the board, which is what you want to see on a day like today. Leading stocks were also flat on the day with the leaders index lower by only .12%. Volume was higher than yesterday but still below average. The index made an intraday high and is acting well, still rising above the 9dma. There continued to be fresh breakouts today as CELG and GLOG cleared bases on heavy volume. Both the major averages and quality growth stocks continue to act well and it appears that higher prices are ahead. Jerry