Leaders Index 1-25-21

The market had a pretty wild ride today. After solid opening gains, especially in the Nasd averages, The major averages sold off hard and went into negative territory. The major averages then rallied into the close and regained much of the losses. All the major averages finished in the upper half their intraday trading ranges. The Nasd averages were the strongest with the COMPQ and the NDX gaining .69% and .87% respectively. The SPX was higher by .36%. The small and mid-cap averages lost ground. Volume was a lot higher across the board. It gained 21.49% on the Nasd and 40.56% on the New York. Leading stocks had a wild session also. The leaders index traded in a wide range but finished higher by 1.92%. The index closed high in its trading range on slightly higher volume. It was an interesting day. Early gains were lost in heavy selling only to be mostly recovered by the end of the session. The Nasd averages led the way due to strength in the big cap tech stocks. There are several important stocks reporting earnings this week and their numbers will have a big effect on the market, particularly the Nasd. The action today was sloppy, but it ended with a positive tone. We will likely see higher prices before it is all over. Jerry