Leaders Index 12-11

The market had a solid rally day today. The major averages were up between .53% on the NYA and 1.18% on the COMPQ. They closed a bit off their highs of the day and were all in the upper half of their trading ranges. Volume increased strongly across the board. We had an FTD going on the COMPQ bit it finished just below the required 1.25% level after Harry Reid said a deal on the fiscal cliff was unlikely before Christmas. Leading stocks also had a good day as the leaders index rose .92% on higher but just below average volume. All the major averages are now above their 50dma’s, which is a real sign of strength. There was more positive action among leading stocks today and there are now more candidates for a new leaders index. I will work on it over the next couple of days and will try to have one out by the end of the week. Jerry