Leaders Index 11-5-20

The market put in another strong session today. The major averages gapped open at the open and spent the rest of the session holding the gains. The Nasd averages were the strongest with the COMPQ and the NDX gaining 2.59% and 2.56% on the day. Both closed high in their intraday trading ranges. The SPX rallied 1.95% on the day and closed in about the middle of its trading range. Volume was higher across the board. It gained 7.06% on the Nasd and 1.51% on the New York. This shows that large institutional players were buying stocks today. Leading stocks had a strong session as well. Since there was a new follow through yesterday I created a new leaders index It contains 21 securities in 16 different industry groups. This index gained 7.67% today and is at new highs on both the price and relative strength line. I have included a text file with the components of the index. It has climbed rapidly in the last few days on high volume. The market continued to rally today in a positive manor. The Nasd averages led the way as the big cap tech stocks seem to be back in vogue. The SOX made a new high. The market is responding well to the prospect of divided government. I think this follow through is a little suspect as it is not confirmed, but thing as going pretty well so far. Jerry