Leaders Index 5-8-25

The market had a solid up session today, despite late selling. The major averages opened higher and after some early selling rallied nicely. Some late selling caused the major averages close off their highs. The NASD averages closed in about the middle of their trading ranges while the New York averages closed in the lower half of theirs. The COMPQ and the NDX gained 1.07% and .98% respectively. The SPX rallied .58%. Volume was higher across the board. Leading stocks gained ground as well. The leaders index gained 1.36% on the day. The index closed just below the mid-point of its intraday trading range on higher and above average volume. This is a new high for the index on both a price and a relative strength basis. The market got off to good gains today based on the announcement of a trade deal with the U. K. There were hints of more to come. The major averages continue to trade between their 200dma’s and 50dma’s. The NDX did trade above its 200dma but closed below it. The market is generally acting like it wants to go higher. At this point it looks like it is more likely that the market will work its way higher. Jerry