Leaders Index 3-26-25

The market took a hit today on tariff news. The major averages opened lower and worked their way down most of the day. A little late strength saw the major averages finish off their lows but still low in their intraday trading ranges. The NASD averages took the worst of it with the COMPQ and the NDX losing 2.04% and 1.83% respectively. The SPX fell 1.12%. Volume was mixed, a little lower on the New York but significantly higher on the NASD. Leading stocks declined as well. The leaders Index fell 4.20% on the day. The index closed low in its trading range on lower and about average volume. The action today was pretty ugly. Tarriff announcements pretty much sunk the market and put this rally attempt in real doubt. Real damage was done today. The SPX had recovered its 200dma but lost it again today. The NDX tagged its 200dma yesterday but was turned back today. The COMPQ never hit this important resistance level. The volume on the NASD was extremely heavy today, indicating large institutional players were selling today. The countertrend rally we are in is looking like it is in trouble. This does not bode well for the market. If this weak rally is all that can be sustained the market is likely to go lower. The sidelines are a good place to be. Jerry