Leaders Index 10-3-17

The market put in another positive session today. After opening higher there was a little early selling, especially in the Nasd averages. It didn’t last long and the major averages spent the rest of the day working their way higher. The COMPQ finished with a gain of .23% while the SPX rose .22%. All the major and secondary averages closed at their intraday trading highs, a good sign. We also saw new highs on both a closing and an intraday basis on all the averages, except the NDX. Volume was mixed. Signal had volume on the Nasd slightly higher while it was lower on the New York. Leading stocks participated with the leaders index higher by .54%. The index closed in the upper half of its trading range and made new highs on both a closing and an intraday basis. Volume was a little low as it declined from yesterday’s level and was well below average. It would be good to see some volume come in along with the advancing prices. Overall it was a good session. The major averages continued to rally and are acting well. The new highs we are seeing in the small cap and the semiconductor stocks usually bodes well for a rally. Quality growth stocks are generally acting well, although really big winners are still on the light side. The market is acting well and looks like it wants to go higher. Jerry