Leaders Index 12-7

The market action was pretty uneventful today. After an early sell off the market rallied on more news from Europe and then gave most of it up by the close. Volume was up a bit from yesterday but still well below average. Leading stocks were generally lower today with the leaders index declining .50% on extremely low volume. The index's RS line also made a new low for the decline. The major averages are all stuck below their 200 dma's and seem unable to break above them. Market action for the rest of the week should be dominated by the ECB meeting tomorrow and the EU summit on Friday so it is difficult to predict what will happen, but it will likely be interesting. Jerry