Leaders Index 1-31-19

The market staged another strong rally today. The major averages were higher early and held the gains the rest of the session. The Nasd averages were again the leaders as strong earnings from FB sparked a tech rally. The COMPQ and the NDX rallied 1.37% and 1.45% respectively. The SPX was higher by .86%. All the major averages finished high in their intraday trading ranges, a sign of support. Volume was higher across the board, showing that large institutional players were still buying stocks. Leading stocks were strong as well with the leaders index gaining 1.41%. The index closed high in its trading range on higher and above average volume. The rally continued higher today as well received earnings reports pushed stocks higher. The INDU broke above its 200dma yesterday and closed right on it today. Holding this now support level would be encouraging. The leaders index made a new high today on both a closing and an intraday basis. It is encouraging to see quality growth stocks lead the market higher. The rally is on track and the next target for the major averages is their respective 200dma resistance levels. Jerry