Leaders Index 6-23-15

The market had a fairly quiet session today. After bouncing around all day the major averages finished with small gains. The COMPQ gained .12% while the SPX rallied .06%. Both closed high in their intraday trading ranges and volume was mixed, slightly lower on the Nasd and a bit higher on the New York. Leading stocks were higher as well with the leaders index higher by .82%. The index closed in the upper half of it’s intraday trading range. Volume was lower than yesterday but still well above average. The index traded below it’s 17dma during the session but closed back above this important moving average. The fact that it held the 17dma is a good sign, but it would be nice to see the index rally above it on heavy volume, showing that there was some buying pressure in quality growth stocks. The charts of the major averages and the leaders index are still ok, but some real buying with conviction would improve the confidence level. Jerry