Leaders Index 8-5-21

I have been off the air for a few days due to computer problems and a newly unreliable tech. I think everything is back on track. The market has acted pretty well in the last few days. Leading stocks have been acting well and the major averages are catching up to leading stocks. The market opened slightly higher and worked its way up most of the session. Some late buying saw the major average all finish near their intraday trading highs. The Nasd averages were the strongest with the COMPQ and the NDX gaining .78% and .65% respectively. The SPX rallied .60%. Volume was lower across the board, although it was higher yesterday when the major averages were also strong. It fell 18.57% on the New York and 5.55% on the Nasd. Leading stocks have been strong recently and had another good day today. The leaders index was higher by .49% and it made a new high on both a closing and an intraday basis. The relative strength line peaked yesterday and was slightly lower today. Volume was lower and below average. The market has been acting like it wants to go higher. Quality growth stocks have been leading with the leaders index moving into new high ground on Monday and having seven up days in a row. When quality growth stocks are leading the overall market it is an encouraging sign. The major averages seem to be catching up as the Nasd averages made new highs today. The market is acting like it wants to go higher and that is likely to happen in the short term. Beyond that it is tough to tell in this market. The employment report will come out before the open tomorrow. That will set the tone, at least early. Jerry