Leaders Index 4-29-19

The market put in a moderately positive session today. After opening a bit higher the major averages rallied mildly for most of the session before some late selling came in. The Nasd averages were a little stronger with the COMPQ and the NDX higher by .19% and .16% respectively. The SPX gained .11%. The Nasd averages closed in the upper half of their intraday trading ranges while the New York averages finished low in their trading ranges. Volume was lower across the board. Leading stocks generally performed better than the overall market with the leaders index rallying 1.10%. This was enough for new highs in the index on both an intraday and a closing basis. The index closed in the upper half of its trading range and volume was lower and slightly below average. The action today was mildly positive as the major averages started off a bit lower and gained ground most of the session. There were new highs on most of the major averages as well as the leaders index Quality growth stocks are acting better than the overall market as can be seen in the new highs in the relative strength line if the leaders index. The index also continues to rise above its short term 9dma, also a positive sign. The rally still appears to be on solid ground and it looks like there should be higher prices in at least the short term. Jerry