Leaders Index 11-6-20

The market took a break yesterday after strongly rallying earlier in the week. The major averages opened a little weak and then traded around unchanged most of the remainder of the session before closing little changed. The Nasd averages were a little stronger with the COMPQ and the NDX higher by .04% and .11% respectively. The SPX declined .03%. The Nasd averages finished high in their intraday trading ranges while the New York averages closed low in their trading ranges. Volume was higher across the board. It was higher by 1.00% on the New York and by 9.49% on the Nasd. Leading stocks were a little weaker with the leaders index declining 1.00% on the day. That is not bad considering its 7% plus gain on Thursday. The index closed in about the middle of its trading range on lower but still pretty high volume. The market took a rest yesterday after a strong advance earlier in the week. It was due and it was in a pretty constructive manner. The declines were small and although volume was higher there was no distribution. The market is acting pretty well so far in this rally attempt. And there are some stocks setting up and breaking out. It is still a news driven market so more news next week could cause a decline, but right now the market seems to be acting pretty well. Jerry