Leaders Index 11-10-25

The market had a nice bounce back today. The major averages gaped open today on news of progress on the shutdown. After opening higher the major averages rallied most of the day, closing high in their intraday trading ranges. The NASD averages led the way with the COMPQ and the NDX gaining 2.27% and 2.20% respectively. The SPX rallied 1.54%. Volume was lower across the board, about the only negative today. Leading stocks were strong as well. The leaders index gained 2.51% on the session. The index closed in the upper half of its trading range on lower but above average volume. The market rebounded sharply today after it looked like there we were close to a deal on opening the government. The major averages were strong all day, right into the close. This is positive. The gains were large and included leading stocks, which had a strong session. Market internals were good and the equal weighted ETFs of the major averages were strong. About the only negative today was the lower volume on both exchanges. The issue now is if this is just a bounce after the decline or if it has some legs. The next few days should be instructive. Jerry