Leaders Index 5-11-23

The market was fairly quiet today. After opening lower the major averages traded around unchanged most of the day until they closed the session little change. The Nasd averages were stronger with the COMPQ and the NDX gaining .18% and .31% respectively. The SPX declined .17%. All the major averages finished high in their intraday trading ranges. Volume was lower across the board, showing that large institutional players were not heavily involved. Leading stocks were up slightly with the leaders index higher by .23%. The index closed high in its trading range on lower and below average volume. The market didn’t do much today in a quiet session. The PPI report came in below expectations but it didn’t have much effect on the market. The CPI is more important. The market continues to go pretty much sideways and it looks like a middle road scenario for now without sustained moves in either direction. Jerry