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Thread: Leaders Index 1-18-19

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    Leaders Index 1-18-19

    The market staged a strong rally yesterday, mostly on news that China had made an important offer in trade talks. The major averages opened higher ran rallied most of the day. All the major averages finished high in their intraday trading ranges, showing that there was buying support most of the day. The New York averages were the strongest with the SPX rallying 1.32%. The COMPQ and the NDX were higher by 1.03% and .98% respectively. Volume was higher across the board. Much of this was due to yesterday being an expiration day, but it was still higher volume on a solid price advance. Leading stocks were strong as well with the leaders index gaining 1.17% on higher and above average volume. The index finished high in its trading range and made new highs on both a closing and an intraday basis. The market built nicely on its current rally yesterday. The major averages were strong all day and made new highs for the move. The news on trade was encouraging and good news on manufacturing helped. The expiration day helped but there was still a rally on higher volume. Buyable stocks are still a little thin but we are seeing better action. The leaders index is rising nicely above its 9dma and has broken out above its recent consolidation area. We are in a tradable rally, the question is how far it will go. The next target is the 200dma on the major averages. If it can clear this resistance, hopefully with volume, the rally will have further to go. Jerry
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