Leaders Index 8-15

The market continued it's snapback rally today with the major averages up about 2% on the day. A late rally let the major averages close on the highs of the day, although the volume declined again so the wedging rally continued. The leaders rose less than the overall market with the leaders index up 1.21% on light volume. We will see how far this rally goes and how the major averages act as they approach the 200dma's. I will be away for a few days so the updates will resume next week. Jerry