Leaders Index 4-23-15

The market had another constructive session today. After a bit of weakness at the open the major averages quickly recovered and moved into positive territory. They steadily gained ground from there until a little late selling saw the major averages finish off their intraday highs. The gains on the day were still solid with the SPX up by .24% while the COMPQ rallied .41%. Both major averages set new intraday highs for the session and closed in the upper half of their trading ranges. Volume was higher across the board, showing that large institutional players were buying stocks and that there was accumulation today. IBD went back to a resumed uptrend call based on the new highs in the major averages. Leading stocks also had a generally up session as well, but the leaders index declined slightly with a loss of .12% on very high volume. Like yesterday there were some stocks in the index that were hit hard on heavy volume. FSL, FB and CAVM all took hits. With the move into new highs by the major averages a new leaders index is in order. The are now a pretty high number of broken stocks in the current index. I will work on a new index over the weekend. For now the rally looks like it is gaining some steam and there are attractive stocks out there to take positions in. Jerry