Leaders Index 9-12

The market was little changed today as it traded back and forth around unchanged all day before closing with small gains in the upper half of it's trading range. Volume was slightly higher on both exchanges but was fairly quiet before the Fed announcement tomorrow. Leading stocks did better than the major averages with the leaders index advancing 1.21% on higher and slightly above average volume. The index tagged the 17dma but rallied back to close at about the 9dma. There were new good looking breakouts in stocks such as PNRA and N. This is a good sign. The market seems to be acting well and we will have to see how it reacts to the Fed tomorrow. Jerry