Leaders Index 4-17-14

The market had a fairly quiet trading day today. It tried to rally early but couldn’t get anything going. The COMPQ finished with a gain of .23% while the SPY was higher by .14%. Volume was higher across the board, but much of the was due to an expiration today. Leading stocks were generally higher on the session with the leaders index up by 1.08% The index closed just above the important 17dma, which is a good sign. The issue with the index is volume. It was lower today and well below average. The rally of the last couple of days in the leaders index is starting to take on a wedging look with the index going up on successively lower volume. Today’s action didn’t do much to clear up the question of the trend of the market. Until that picture is more evident the sidelines remains the best place to be. Jerry