Leaders Index 2-18-26

The market had a pretty good session today. The major averages opened higher and rallied to strong gains. Selling came in and much of the gains were lost, before late buying came in and the major averages finished with nice gains. All the major averages closed in about the middle of their intraday trading ranges. The COMPQ and the NDX rallied .78% and .80% respectively. The SPX was higher by .56%. Volume was mixed, lower on the New York and slightly higher on the NASD. Leading stocks had a good day as well. The leaders index gained 2.81% on the session. The index closed in about the middle of its trading range on lower and below average volume. The market had a good session today with nice gains in the major averages and leading stocks. It looked for a while today that the early gains would be lost but the late buying saw the market with good gains. Leading stocks outperformed today, which is a good sign. Today was nice, but it doesn’t really change the overall picture. There are still a lot of conflicting indicators out there and the major averages are still below their respective 50dma’s. The major averages must first overcome this important resistance before any real up move can take place. The weekly Coppock is set to go below zero likely next week so it will be set up to signal. A follow through accompanied by a weekly Coppock would signal a new rally. That would be great, but I think more work for the market is necessary before that will happen. Jerry