Leaders Index 2-7-24

The market had a solid up session today. The major averages opened higher and mostly worked their way up the rest of the day. All the major averages finished near their intraday trading highs. The COMPQ and the NDX gained .95% and 1.04% respectively. The SPX rallied .82%. Volume was mixed, higher on the New York and lower on the Nasd. Leading stocks rallied as well with the leaders index gaining 1.03% on the day. The index closed in the upper half of its intraday trading range on higher and above average volume. The market rallied nicely today. Several Fed governors spoke today and their remarks were well received by the market. All the major averages made either new highs for the rally or new all time highs today. Leading stocks are generally acting well and many stocks and baskets have produced very nice gains. We may be a little extended in the short term, but everyone has been saying that for a while. Right now there are few red flags out there and the rally should continue. Jerry