Leaders Index 10-23-25

The market had a nice bounce back today, although volume was lacking. The major averages opened moderately higher and worked their way up most of the day. All the major averages finished high in their intraday trading ranges. The COMPQ and the NDX rallied .89% and .88% respectively. The SPX gained .58%. Volume was lower across the board. Leading stocks had strong gains on the day. The leaders index gained 3.33% on the session. The index closed high in its trading range on lower and below average volume. The market bounced back pretty nicely today after yesterday’s decline. The major averages and the leaders index recovered most of yesterday’s losses and closed strong. The most important item today was the strong action in leading stocks. They had good action and even TSLA closed higher after a not so great earnings report. The only real negative today was the lower volume. It would have been better to see it higher. Today’s action is what is needed to recover recent weakness. The leading stocks must continue their recovery and move to new high ground. The same is true of the major averages. The CPI report comes out tomorrow and next week will begin the heaviest part of earnings season as well as a Fed meeting and economic news. Hopefully the news will be market friendly. Jerry