Leaders Index 4-9-24

The market was mildly positive today before the inflation report tomorrow. The major averages opened somewhat higher but quickly sold off. Some late buying saw all the major averages finish high in their trading ranges. The COMPQ and the NDX gained .32% and .39% respectively. The SPX was higher by .14%. Volume was higher across the board after yesterday’s light volume. Leading stocks sold off today with the leaders index falling 1.22% on the day. The index closed in the upper half of its trading range on higher but below average volume. The market was slightly higher today after a volatile session. Late buying came in and prevented a negative close. Volume was higher, but that is compared to lower volume due to the eclipse. The market is still struggling at this point as potentially fewer rate cuts are being priced in. The CPI report comes out tomorrow before the open. That will set the tone for trading for the day. Jerry