Leaders Index 5-27-21

It was kind of a mixed market today with little change on the surface. The New York averages were a little higher while the Nasd averages were a little lower. The COMPQ and the NDX were off by .01% and .33% respectively. The SPX was higher by .12%. There was greater strength in the small and mid-cap stocks. All the major averages finished in the lower half of their intraday trading ranges. Volume was higher across he board. It gained 20.86% on the New York and 4.27% on the Nasd. Leading stocks had another solid session with the leaders index gaining 1.33% on the day. The index closed high in its trading range, although volume was lower than yesterday. The relative strength line of the leaders index also broke above its 50dma as quality growth stocks have started doing better in recent sessions. It was a fairly uneventful day in he major averages they closed little changed on higher volume. Under the surface things have improved a bit. Leading stocks are acting better as can be seen in the outperformance of the leaders index and other growth stocks ETF’s. The relative strength line of the index is showing improved price performance. The market internals have also been positive in the last few days. It looks like the market is trying to work its way higher. There will be no update tomorrow. I hope everyone has a good holiday weekend. Jerry