Leaders Index 7-16-14

The major averages showed modest gains today with the New York averages taking the lead. After opening stronger they held those gains most of the day until late weakness took them off their highs. The SPY was higher by .42% while the COMPQ rallied .22%. The action was mostly in the big caps after INTC reported good numbers. This was shown by the fact that the NDX outperformed the COMPQ by rising .46% and the RUT was lower by .20%. Volume was higher across the board, which is good on an up day, but the action was not particularly strong. Leading stocks continued to lag with the leaders index actually declining by .07%. Volume on the index was higher than yesterday but still below average. All the major averages remain close to recent highs, especially the New York averages, but this is a lack luster environment that is very difficult to make money in. The beach looks pretty good right now. Jerry