Leaders Index 11-19-22

The market opened a bit higher yesterday and mostly traded sideways with a slightly positive bias. Some late buying saw the major averages finish high in their intraday trading ranges. The New York averages led the way with the SPX gaining .48%. The COMPQ and the NDX were pretty flat with gains of .01% and absolute flat respectively. Volume was lower across the board. Leading stocks were mixed. The leaders index gained .32% and closed high in its trading range, above its short term moving averages. Volume was higher and above average. The FFTY was down .59% on the day. The market pretty much treaded water yesterday but had a slight positive bias. Volume was low despite an expiration day, which is a bit unusual. The rally is struggling and few stocks are making worthwhile gains. On the other hand there seems to be a bid under the market as it is still holding up. The weekly Coppock did not give a buy signal last week and that is disappointing, but it may if there is strength next week. This is a weak rally at best and a good deal of caution is warranted. Jerry