Leaders Index 6-16-25

The market rebounded after Friday’s decline pretty nicely. The major averages opened strongly higher and while some selling came in they still finished with solid gains and closed high in their intraday trading ranges. The COMPQ and the NDX gained 1.52% and 1.42% respectively. The SPX rallied .94%. Volume was mixed, higher on the NASD and lower on the New York. Leading stocks rallied as well. The leaders index gained 1.17% on the day. The index closed low in its trading range on lower and below average volume. The index closed back on its short term 9dma. The market recovered from Friday’s selloff pretty well. The major averages recovered the price declines and the NASD had higher volume. The charts of the major averages are looking good, and they are very close to their recent all-time highs. There are some real positives out there and the market breaking above old highs would be very positive. There are however some negative items as well. A couple of short term indicators I watch have just turned down. The distribution count is also high. We could see a pullback after the recent advance, but I do think the trend remains up. The Fed will meet tomorrow and Wednesday and make their announcement. There are likely to be few surprises. Jerry