+ Reply to Thread
Results 1 to 1 of 1

Thread: Leaders Index 1-20-21

  1. #1

    Leaders Index 1-20-21

    The market staged a strong rally today. A very well received earnings report from NFLX sparked a strong rally in big cap tech stocks. The major averages opened higher and spent the rest of the session working their way up. The Nasd averages led the way due to the strength in the big cap stocks. The COMPQ and the NDX rallied 1.9% and 2.31% respectively. The SPX gained a very solid 1.39%. All the major averages finished at or very near their intraday trading highs, a good sign. Volume was mixed. It was higher by 10.11% on the Nasd and lower by 8.82% on the New York. Leading stocks lagged the overall market today. The leaders index gained .24% on the day and closed high in its trading range. Volume was higher but well below average. The NFLX earnings report lit a fire under the big cap tech stocks and drove the Nasd averages into new high ground. The fact that this was accompanied by higher volume is encouraging. All the big tech stocks rallied hard and NFLX and GOOGL broke out of bases. We will have to see if this is the beginning of a rotation back into these stocks from the small and mid-cap stocks. The market is acting well and we clearly have not seen the top yet. Jerry
    Attached Images  

+ Reply to Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts