Leaders Index 2-24

The market continued to consolidate recent gains on Friday as the major averages bounced around unchanged all day and finished about where they started. Volume was down across the board which it positive during a market consolidation. All the major averages remain above their 10dma's and have been since the FTD on 12/20. This shows a lot of strength and the market school model is close to going into a power trend that only happens when we are in a particularly strong move. Leading stocks continue to act well with the leaders index pulling back .20% on lower and below average volume. It is still rising above it's 9dma and had been for weeks, which shows unusual strength. The rally is still in good shape and should continue to be played until real signs of weakness appear. Jerry