Leaders Index 5-8-17

The market had a relatively quiet session today with the major averages closing little changed. A little late strength saw the major averages all close at or very near their intraday trading highs, but the gains were slight. The COMPQ finished with a gain of .03% while the SPX was completely flat at 0.00%. Volume was mixed, higher on the New York and almost the same on the Nasd. The Nasd volume was so close that different data feeds will likely have different numbers. Leading stocks were a little stronger than the overall market with the leaders index gaining .21% on the session on lower and slightly below average volume. The index cleared its short term 9dma and made a new high on an intraday basis. The relative strength line of the index moved higher. Overall there was little reaction to the expected results of the French election. The Nasd averages and the SPX all went into new high ground, if only by a small amount. The direction of the market still seems to be higher and the Nasd averages are the clear leaders. Jerry