Leaders Index 12-29-16

The market had another pretty quiet session today. After opening slightly higher the major averages sold off and spent the rest of the day in slightly negative territory. All the major averages closed with small losses and in about the middle of their intraday trading ranges. The COMPQ fell .12% and the SPX lost .03%. Volume was lower than yesterday and continued the recent pattern of light trading in the holiday period. Leading stocks were generally a bit higher with the leaders index gaining .17% on the day. The index closed in the upper half of its trading range and is slightly above its short term moving averages. Volume was again very high, but it was once more mainly due to large volume in NVDA. It was a quiet day and likely will be again tomorrow, the last trading day of the year. Next week will tell us more. Jerry