Leaders Index 6-27-24

The market made some moderate upside progress today. After opening a bit higher the major averages bounced around before closing with some gains and near their intraday trading highs. The NASD averages led again with the COMPQ and the NDX gaining.30% and .19% respectively. The SPX was higher by .09%. Volume was slightly higher across the board. Leading stocks were also moderately higher with the leaders index gaining .40% on the day. The index closed in about the middle of its trading range on lower and very light volume. The market continued to work its way higher today, closing with late strength. That is three days in a row now that the major averages have closed near their trading highs. The market held up pretty well after MU’s earnings report was not well received. The current consolidation continued today. The major averages are going sideways in a tight range in what still looks like a constructive pattern. Right now the rally is still on overall solid ground, even though it is not a strong rally. The PCE comes out tomorrow and will set the tone for trading, but right now it looks like the market wants to continue to work its way higher. Jerry