Leaders Index 5-30

The market sold off hard today, giving back all of yesterday's gains and then some. The major averages closed weak, finishing near the lows of the day on flat to slightly higher volume. Leading stocks also sold off as the leaders index dropped 1.20%, a bit less than the major averages. Volume was up from yesterday but was still below average. The market can't seem to get any sustainable upside action going and with the problems in Europe getting worse it is hard to see how it can with no real leadership in sight. We can always get a quick bounce on news, but it looks like lower prices are ahead. Jerry