Leaders Index 8-6

The market had a solid up day on a price basis today even though a good part of the gains were lost near the close. The New York averages closed near the lows of the day while the COMPQ finished in about the middle of it's trading range. Volume was the issue. We traded very light volume again and it was much lower than Friday and well below average. If volume doesn't pick up the major averages will begin to take on a wedging look. Leading stocks again outperformed the overall market with the leaders index rising .95% on very light volume. It set new highs on both a price and RS basis, but it too is taking on a wedging look. This rally attempt is acting better than the last two that quickly failed, but it is not showing that much power. Jerry