Leaders Index 3-19-21

The market put in a mixed performance yesterday. After a slightly weaker open the major averages rallied a bit and then went flat for the remainder of the session. The Nasd averages were the strongest with the COMPQ and the NDX gaining .76% and .61% respectively. The SPX declined only .06%. The Nasd averages finished high in their trading ranges while the New York averages closed in about the middle of their trading ranges. Volume was higher across the board, mostly due to yesterday being an expiration day. Volume was up by a modest .95% on the Nasd but gained 29.30% on the New York. Leading stocks were moderately higher as well with the leaders index gaining .95% on the day. The index closed high in its trading range and held support at its important 17dma. Volume was much higher and well above average. It was a mixed session yesterday The Nasd averages and the semiconductors showing some strength and the New York averages lagging. We still have not had a follow through that would increase confidence in the current market. I said in the last update that I don’t know what the market is going to do in the short term, and that hasn’t changed. The major averages are holding up but are not making much progress recently. This is a pretty high risk market that can go either way at this point so while it is ok to have some positions getting aggressive here is likely not a good idea. Since I posted the new leaders index on 3/12 I have received numerous emails asking for the stocks in the index. I always post the components of the index on the first day I post it. I have included a list again today so hopefully these requests will stop. Jerry