Leaders Index 6-4

The market was lower for much of the day and struggled to regain early losses. A late rally brought about a mixed close with the COMPQ up slightly and the New York averages flat to down. All the major averages closed near their highs of the day. Volume was down across the board. This was a pretty weak day considering you often get a bounce after a big sell off like we had on Friday. Large players were not going back into the market with any conviction. Leading stocks were up a bit with the leaders index up .11% on lower but slightly above average volume. The market is still not showing much strength and leadership is scarce. The market remains in a correction and although we could get a reaction to news, there is little in the current situation to be positive about. Jerry