Leaders Index 12-11-25

The market held up pretty well today in the face of a poorly received earnings report from ORCL. The major averages opened lower but quickly found a bottom and rallied the rest of the day. All the major averages finished high in their intraday trading ranges. The NASD averages were lower with the COMPQ and the NDX losing .25% and .35% respectively. The SPX gained .21%. Volume was mixed, higher on the NASD and lower on the New York. Leading stocks were higher on the day. The leaders index gained .82% and closed high in its trading range. Volume was lower and slightly below average. The market actually put in a solid performance today. The ORCL earnings report caused early selling but the market recovered. The NASD averages were lower but closed high in their trading ranges. The other averages made it into positive territory. The NASD averages got a new distribution day today, but overall it was a pretty encouraging session. The market held up well in the face of negative news. Market internals were nicely positive today and the equal weighted ETFs of the major averages outperformed. It looks like we got past the Fed announcement in one piece and the rally looks pretty good. Jerry