Hi Jerry,

First - thank you for your daily updates. I find them really insightful and useful.

I have a question regarding the MA's of the Leaders Index. I have noticed you place great weight of emphasis on the Leaders Index breaking MA lines and I wonder why? For a stock (or index,) I can understand how institutions (or algo's) will step in to defend a position at a relevant MA (e.g., 10 SMA, 21 EMA, 50 SMA, etc.)

However, the Leaders Index is uniquely compiled by you and I assume not widely followed by institutions (or algo's.) So my question is why place emphasis on 9 MA? Why not the 8 or 10? I recognize the Leaders Index will lead the market and a breakout/breakdown is confirming/damning. I also understand you need to use a MA.

So my question is: why track the 9? Why is breaking the 9 MA so significant?

Thanks,
Harry