Leaders Index 12-29-14

It was another quiet day in the markets. After a lower open mostly due to weakness in Europe the major averages recovered to go slightly into positive territory. There was not much movement for the rest of the session and the major averages closed little changed. The COMPQ showed a completely flat session and the SPY was up by .09%. Volume was higher than Friday, as you would expect, but it was still very light. Leading stocks were mostly down a bit with the leaders index declining .79% on higher but still almost nonexistent volume. The index closed near the top of it’s intraday range. Quality growth stocks are still not producing much in the way of gains. There were a couple of interesting IPO breakouts today, like XENE, NEWR and HDP, but as a whole it is tough to get anywhere. There isn’t much new to say right now and there probably will not be until the holidays are over next week. Right now I think most market participants are pretty much done for the year. Jerry