Leaders Index 5-19

The market rallied again today. The major averages rose about one quarter to one third of one percent and closed near the highs of the day. Volume was again disappointing as it declined across the board. The leaders outperformed again, rising 1.295 on lower volume. The index broke above the recent downtrend line and closed right below the 17dma.Volume seems to be the key here as we have had three successive up days on lower volume. The major averages and the leaders index are both taking on a wedging look. It would be good to see some conviction come into this rally attempt. Jerry