Leaders Index 9-7

The markets had a strong rally today as they continue to whip saw back and forth on news from Europe. The major averages were up between 2.5% and 3% on mixed volume, lower on the NYSE and slightly higher on the Nasd. The leaders rallied a bit more than the overall market with the leaders index rising over 3% on higher volume. We remain in a very confusing market and the weekly Coppock flattened out today and further strength could result in a buy signal. I still believe the trend of the market is down, but we could see some short term strength. Jerry