Leaders Index7-15-25

The market had a negative reversal today. The major averages opened with solid gains but spent the rest of the session selling off. All the major averages finished low in their intraday trading ranges. The NASD averages finished in the green with the COMPQ and the NDX showing small gains of .18% and .13% respectively. The SPX declined .40%. Volume was higher across the board. This produced distribution and stalling on the major averages. Leading stocks were mixed on the day with the leaders index showing a moderate loss of .19%. The index closed high in its trading range on lower and below average volume. The market started out today with decent gains. The NASD averages led on news that restrictions on chip sales to China would be eased. The CPI came in higher but pretty much within expectations. The major averages opened pretty well but quickly turned around and sold off into the close. This negative reversal reinforces the idea that the market will show a little short term weakness. The NASD averages broke above their recent week long consolidation but couldn’t hold the gains. The earnings reports came out mostly positive today and there are more coming later this week. Right now I think there will be more short term weakness, but the picture still looks encouraging in the intermediate term. Jerry