Leaders Index 11-18

The market didn't do much yesterday. After trading near unchanged most of the day the major averages finished mostly slightly lower on mixed volume, lower on the Nasd and a bit higher on the NYSE. All the major averages closed near the lows of the day. The market school model had another sell signal yesterday that brought the count to zero. There can be no more buys until there is another FTD. Leading stocks sold off pretty hard yesterday with the leaders index falling 1.73% on lower and below average volume. It is showing real weakness as the chart and the RS line show. It appears that the 200dma has contained this rally and we are starting the second down leg of this bear market. Jerry