Leaders Index 8-25-21

The market made modest gains today in an overall quiet session. The major averages opened slightly higher and mostly gained some ground from there. All the major averages finished in the upper half of their intraday trading ranges. The New York averages were a little stronger with the SPX gaining .22%. The COMPQ and the NDX were higher by .15% and .07% respectively. Again the greatest strength was in the small and mid-cap stocks, along with the semiconductors. Volume was lower across the board. It fell 5.51% on the Nasd and 17.02% on the New York. Leading stocks had a solid day with the leaders index gaining 1.76% on the day. The index closed in the upper half of its trading range and it cleared its 17dma now support level. The relative strength line of the leaders index continued to improve. The market put in a quiet session today but it had a definite upward bias. The gains were moderate but most of the major averages made new highs. The most strength was again in the small and mid-cap stocks with the RUT and the MID higher by .37% and .56%. The SOX rallied .81%. The fact that the leaders index overcame resistance at the 17dma and closed comfortably above it is encouraging. If quality growth stocks can continue the outperformance they began last week it would be a good sign. The market seems to want to go higher right now so the short term trend remains up. Jerry