Leaders Index 6-14-18

The market put in a strong performance overall today. The action was concentrated in the Nasd stocks. The COMPQ and the NDX were higher by .85% and 1.03% respectively. The New York averages lagged again with the SPX gaining .25%. All the Nasd averages finished at or very near their intraday trading highs. The New York averages closed in about the middle of their trading ranges. Volume was very close on the Nasd, slightly higher according to IBD, and lower on the New York. Leading stocks had a very good session with the leaders index gaining 1.30% on the day. This was enough for new highs on both a closing and an intraday basis. The index closed in about the middle of its trading range and volume was very high. The relative strength line of the index also made a new high. The action of the market was encouraging today. The fact that the New York averages are lagging is a negative, but it is outweighed by the positive factors. Canslim style growth stocks are showing real strength. Many are producing real profits and this is the ultimate gauge of the market. The Nasd averages are acting very well and while we may be getting a little extended in the short term the picture looks bright. Jerry