Leaders Index 4-14-15

The market continued it’s range bound trading today. After early weakness the major averages regained their losses to finish mixed on the session. The New York averages led with slight gains while the Nasd had small losses. The SPX finished up .16% while the COMPQ fell .22%. Volume was higher across the board, producing distribution on the Nasd averages. All the major averages closed in the upper half of their intraday trading ranges. Leading stocks struggled as well with the leaders index falling .52% on the day. Volume was lower than yesterday and well below average, showing that large institutional players were not heavy sellers of quality growth stocks. The index tagged it’s 9dma, but held this support level and closed in the upper half of it’s intraday range. We are still stuck in the trading range we have been in for a while now. The market can’t seem to break decisively into new high ground but won’t give up much on the downside. The charts of both the leaders index and the major averages still look ok, but still little progress is being made. It is probably a good idea to be careful here, but some leading stocks are showing modest gains. Jerry