Leaders Index 1-15-26

The market started off strong today, but late selling saw much of those gains erased. The major averages ended up with solid gains, but all closed low in their intraday trading ranges. The COMPQ and the NDX gained .25% and .32% respectively. The SPX rallied .26%. Volume was lower across the board. Leading stocks were higher on the day. The leaders index gained 2.20% on the day. The index closed in the lower half of its intraday trading range on lower but above average volume. The market opened strong today, but late selling saw much of the gains wiped out. The major averages still closed with decent gains, but the late selling was a negative. Leading stocks did pretty well today and continue to outperform the overall market. The late selling was disappointing, but the overall picture remains encouraging. Small and mid-cap stocks were strong again, along with semiconductors. The market may be a little stretched right now and a consolidation or even a mild pullback would not be unexpected. There will be no update tomorrow. Jerry