Leaders Index 1-13-26

The market pulled back moderately today after recent strength. The major averages opened a little higher then mostly worked their way lower the rest of the day. All the major averages finished in about the middle of their intraday trading ranges. The COMPQ and the NDX fell .10% and .18% respectively. The SPX declined .19%. Volume was higher across the board, but there was no distribution because the declines in the major averages were to small. Leading stocks were mixed on the day. The leaders index gained 1.09% on the session. The index closed in the lower half of its trading range on higher and above average volume. Some ETFs of leading growth stocks were lower today. The market had a moderate pullback today, which is not unusual after a nice advance. The decline today was pretty small, so that is encouraging. The highs of the day were made early, but the major averages closed in the middle of their trading ranges so it wasn’t that weak a close. The CPI report was mildly better than expectations so it didn’t have that much of an effect. Market internals were ok and the equal weighted ETFs of the major averages were down moderately. The market had a mild pull back today, but it doesn’t look like anything that would upset an overall encouraging picture. Jerry