Leders Index 9-12-17

The market had another generally positive session today. The major averages opened higher and pretty much held those gains for the rest of the day. The COMPQ was higher by .34% and the SPX gained exactly the same amount. All the major averages closed at or very near their intraday trading highs. Volume was slightly lower across the board and about average on both exchanges. Leading stocks were mixed on the day with the leaders index slightly lower by .17%. The index closed near its intraday trading high and held above the short term 9dma again. Volume was lower and well below average, a good sign as the index consolidates. Overall it was another positive day of trading. Most of the major averages made new highs today, at least on a closing basis. This is encouraging. Leading stocks have been consolidating for the last few days after making new highs. It looks like they are letting the major averages catch up. The new highs in the major averages are good, but the volume has still been a little light. It would be good to see decisive moves to new highs in both the major averages and the leaders index on strong volume. That would really improve the picture, but it looks like the market wants to go higher. Jerry