Leaders Index 1-9

The market had a solid up day today, regaining some of the decline of the last couple of days. The major averages rose between .27% on the SPX and .45% on the COMPQ. Volume was mixed, up slightly on the Nasd and down a bit on the NYSE. The major averages are still consolidating the recent gains and are holding the gap ups on the first of the year well. Leading stocks continued to out perform with the leaders index rising 1.57% on lower but still well above average volume. This represents new highs on both a price and RS basis. The market is acting well and although distribution days are building the major averages and leading stocks are saying that the rally is still intact. Jerry