Leaders Index 7-21-25

The market started out with good gains today but late selling saw much of them wiped out. The major averages opened higher and rose to nice gains until late selling saw them all finish low in their intraday trading ranges. The NASD averages were strongest with the COMPQ and the NDX gaining .38% and .50% respectively. The SPX was higher by .14%. Volume was mixed, slightly lower on the New York and higher on the NASD. Leading stocks sold off on the day. The leaders index declined 1.22% and closed in the lower half of its trading range. The index held all its short term moving averages on lower and below average volume. The market had good gains early but lost much of them in late selling. The major averages still made new all time highs today, but the weak close took some of the luster off the move. The rally is still intact but the major averages are pretty extended from their important moving averages. The short term indicators I look are also down, but not as much as they were. The rally is intact overall but some near term consolidation or mild pullback would not be unexpected. It is also a time of year when markets are not at their strongest. Earnings season kicks in with several important companies reporting this week and more next week. Those will likely effect the market in the next couple of weeks if they vary from expectations. Some IBD groups may be shutting down this week as they end support. If you get the updates from an IBD Meetup group that shuts down you can get the updates from my Google Group. Go to the Google Groups website and search for Jerry Samet’s Leader Index updates and add your email to the group. You can add an individual email or one for a group. Jerry