Leaders Index 5-22-25

The market had a mixed session today. The major averages opened little changed but then rallied to decent gains. Those gains were mostly lost as only the NASD averages finished in positive ground. The COMPQ and the NDX gained .28% and .15% respectively, well of their highs. The SPX lost .04%. All the major averages finished low in their intraday trading ranges. Volume was lower across the board. Leading stocks were a bit higher on the day. The leaders index gained .40% on the day. The index closed low in its trading range on lower and below average volume. The index continues to hold above its short term 9dma. The market had a bit of a reversal today as late selling came in and erased most of the earlier gains. The major averages are continuing to go sideways and consolidate recent gains. Right now, the market is acting ok, but the two weak closes in a row are not good. The major averages remain above their important support at their respective 200dma’s. They must stay above this support. Breaking below it would point to the market selling off and possibly retesting recent lows. Or it could break to new highs and continue its advance. We will have to see which way it goes. There will be no update tomorrow. Jerry