Leaders Index 4-18

The market sold off at the open and was down all day. The major averages all closed near their lows of the day and volume was up slightly across the board. This continued the recent pattern of rallies on low volume and declines on higher trade. The correction has been fairly mild so far and there was some positive action today as ISRG and URI had buyable gap ups. Leading stocks continue to act better than the major averages as the leaders index rose .54% on lower but still above average volume. The index regained the 17dma today. The market remains in a correction but the leading stocks and the major averages have not broken down in any important way yet. Jerry