Leaders Index 5-14

The market had a very strong day today. The major averages all rose to new highs both for the move and on an all time or multi year basis. They closed on their intraday highs and volume was higher across the board. This is very positive action. Leading stocks again outperformed the overall market as the leaders index climbed 1.15% on higher and well above average volume. We are getting more breakouts and some recent breakouts are showing worth while gains. Distribution days are falling off and we are down to one for all the major averages. Things are starting to move pretty quickly and we could be entering a blow off phase of this rally and the current cyclical bull. That should be kept in mind, but everything is acting well now and the long side is the place to be. Jerry