Leaders Index 7-15-24

The market ended the day with moderate gains. The major averages opened higher and rallied for a while before selling came in and continued into the close. All the major averages finished the day low in their intraday trading ranges. The COMPQ and the NDX gained .40% and .27% respectively. The SPX was higher by .28%. Volume was lower across the board. Leading stocks gained ground with the leaders index rallying .26% on the day. The index closed in about the middle of its trading range on lower and below average volume. The market got off to a strong start today , but lost a good portion of the gains by the close. Market internals were positive, but not as strong as the last couple of days. The outperformance of the small and mid-cap stocks continued. It was an overall positive session, but it would have been better if the market had held on to early gains. The case for a rotation to small and mid-cap stocks got a little stronger today, but needs a little more to confirm it. Jerry