Leaders Index 3-25-19

The market bounced around from up a bit to down a little today before closing little changed. The COMPQ and the NDX were lower by .07% and .12% respectively. The SPX declined by .08%. The Nasd averages closed in the upper half of their intraday trading ranges and the New York averages closed just below the midpoint of their trading ranges. Volume was lower across the board. Leading stocks did better than the overall market with the leaders index gaining.62% and closing high in its trading range. The index closed just below its 17dma still resistance level on slightly lower volume. After a big decline like we saw on Friday you want to look at the quality of the bounce to see if the worst is over. We didn’t get any bounce at all today, except a minor one on in the small cap stocks. The fact that quality growth stocks held up well today is good, but the market is acting sloppy right now and a good degree of caution is called for. Jerry