Leaders Index 11-29-22

The market put in a pretty quiet session today. The major averages opened lower and traded with mostly small losses all day. They closed mixed. The Nasd averages were the weakest with the COMPQ and the NDX losing .59% and .73% respectively. The SPX declined .16%. Volume was also mixed. It gained 9.63% on the Nasd and declined .31% on the New York. This produced a distribution day on the Nasd averages. Leading stocks did a little better than the overall market with the leaders index gaining .68% on the day. The index closed in about the middle of its trading range on higher but still below average volume. The market was pretty quiet today before a bunch of economic news the rest of the week. The major averages were lower on the day and didn’t show anything of a bounce after yesterday’s decline. We remain in a weak rally with not a lot of attractive stocks out there doing very well. The rally is still in effect but not much out there is producing worthwhile gains. This rally seems unlikely to produce much and staying lightly invested and waiting for a better set up seems a wise thing to do. Jerry