Leaders Index 11-23-15

It was a pretty quiet session today as the major averages traded around unchanged the entire session. The day ended on a weaker note with all the major averages finishing low in their intraday trading ranges. The losses were very small with the COMPQ declining .05% while the SPX fell .12%. Volume was lower across the board, as you would expect on a holiday shortened week, but it also shows that large institutional players were not selling stocks. Small and mid cap names did better as both the RUT and the MID showed solid gains. Leading stocks did better than the overall market with the leaders index climbing 1.10% on lower and below average volume. The index closed in the upper half of it’s intraday range, a good sign, and the FFTY was higher by .13%. The relative strength line of the leaders index is back up to it’s 50dma. Some individual stocks are acting pretty well and the fact that the rally seems to be spreading out a bit with smaller and mid cap stocks acting well today is good. This week should be quiet, but low volume can sometimes lead to large moves. It looks like the market wants to go higher. Jerry