Leaders Index 11-18-25

The market had another negative session today, but not as bad as yesterday. The major averages opened lower and after trying to rally back they saw some late selling. All the major averages finished in about the middle of their intraday trading ranges. The COMPQ and the NDX fell 1.21% and 1.20% respectively. The SPX declined .83%. Volume was lower across the board. Leading stocks declined as well. The leaders index fell .35% on the day. The index closed in the lower half of its trading range on lower and below average volume. Also the 17dma just broke below the 50dma. The market continued its discouraging action today. After early weakness the market tried to rally, but sold off near the close. Things are not looking good right now. The charts of the major averages and leading stocks look bad and nothing is working right now. The market is clearly in a correction and the question is how far it will go. The major averages have broken their 50dma’s and are close to the 8% down from their highs that is a line before an intermediate correction. Much more on the downside will likely tip the market into an intermediate term correction. NVDA reports its earnings tomorrow after the close. This report will likely set the tone for the market in the short term. Let’s hope for a good report. Jerry