The market had a mixed session today. The major averages opened higher, but couldn’t hold the gains. The major averages saw their highs early and sold off most of the day. All the major averages finished low in their intraday trading ranges, but with moderate gains. The NASD averages lagged a bit with the COMPQ and the NDX higher by .27% and .14% respectively. The SPX gained .30%. Volume was higher across the board. Leading stocks were mixed. The leaders index fell 1.21% on the day. The index closed low in its trading range on higher and above average volume. It was a bit of a mixed session today. It opened with solid gains but sold off by the close. The major averages finished with moderate gains, but leading stocks were mixed. The leaders index fell while some ETFs of leading growth stocks did better. Market internals were good again today and the equal weighted ETFs did better than the averages. The market continued to show internal strength, but particularly the NASD averages are struggling a bit. The action in the leaders index today was not encouraging, but the damage was limited. Right now the overall picture is still bullish, although there are mixed signals out there to watch. I have family in town for Thanksgiving and so will be taking a break for the holiday. I hope everyone has a good Thanksgiving. The updates will resume next Tuesday. Jerry
Reply With Quote