Leaders Index 7-25-17

The market put in another overall positive session today. The New York averages led today with the SPX gaining .29% and setting a new all-time high. The Nasd averages were held back today by a less than well received earning report from GOOGL. The COMPQ was up slightly with a gain of only .02% while the NDX was lower by .18% as many big cap tech stocks sold off. The Nasd averages closed in about the middle of their intraday trading ranges while the New York averages closed low in theirs. Volume was higher across the board. Leading stocks were generally mildly lower today with the leaders index falling .80% on much lower volume. The fact that volume was so low as the index pulled back is a good sign. It was a good day for the New York averages as they made new highs. The greatest strength was in the small and mid-cap stocks as both their averages showed strong gains. If not for the action in such an important stock as GOOGL the Nasd averages would have performed better, but they still did pretty well. The charts of the major averages and the leaders index all look solid and the rally seems to be on solid ground. Jerry