Leaders Index 10-17-25

The market had a moderately positive session yesterday. The major averages opened lower but spent most of the rest of the session working their way higher, closing with moderate gains. All the major averages finished high in their intraday trading ranges. The COMPQ and the NDX gained .52% and .65% respectively. The SPX rallied .53%. Volume was lower across the board. Leading growth stocks took a pretty big hit in Friday. The leaders index fell 2.80% on the day. The index closed high in its trading range on higher but below average volume. The index also broke below its 17dma. Other baskets of leading growth stocks also were pretty hard hit. The market put in an overall positive session yesterday, although market internals were not strong. The gains were partially the result of dovish trade comments from Trump. The market is struggling right now. After the bad break on 10/10 it has been consolidating. The direction of the break from this consolidation will tell us if the rally will continue. We are getting into the heart of the earnings season and the quality of the reports will have a big effect on the direction of the market. Jerry