Leaders Index 12-10

The market drifted higher today on very low volume as the major averages were up between .1% and .3% on the session. Leading stocks were mixed as the leaders index fell .19% on higher but still below average volume. The index is getting old but I have not found a large enough number of attractive quality stocks to put together a new broad based leaders index but will keep looking. The rally in the major averages is taking on a wedging look as we have moved higher in recent days on progressively lower volume. The COMPQ remains right on it’s 200dma and we may well get a death cross this week as the declining 50dma is fast approaching the 200dma. We are still in no man’s land as the rally can’t build a head of steam and has not broken down. Jerry