Leaders Index 7-10

The market had another generally up day today. The New York averages were flat but the COMPQ and the RUT had solid up days. Volume was lower across the board so there was not a lot of buying pressure. The market is kind of teasing us buy working it’s way higher but not giving us a clear buy signal. Leading stocks had a slightly positive day with the leaders index rising .11% on higher but slightly below average volume. The market is drifting higher on light volume but seems to want to go higher. We are within fractions of setting new highs that would turn the buy switch on in the MEM and turn IBD back into a resumed uptrend. It is not a particularly strong move so far but it looks like we will see higher prices. Jerry