Leaders Index 2-17-26

The market had a mixed session today that was moderately positive. The major averages opened lower and then spent most of the rest of the session making back the losses. The major averages closed with small changes. The COMPQ rose .14% while the NDX fell .13%. The SPX was higher by .10%. Volume was lower across the board. Leading stocks were mixed on the day. The leaders index fell 1.42% on the day, but other ETFs of leading growth stocks did better. The index closed high in its trading range on lower and below average volume. The market mostly continued its recent trendless action today. It recovered from early losses, but overall the back and forth sideways market continued. This is not a particularly friendly market to be trading in. A trendless sideways market like this can get you to try trades that usually don’t work out. If you keep it up those small losses can add up, a death of a thousand cuts market. With the market going essentially sideways for months and so many important indicators pointing in different directions, I really don’t know which way the market will eventually go at his point, but I suspect the ultimate resolution will be to the downside. Jerry