Leaders Index 6-16

The market started off higher and generally couldn't hold on the the gains. Although there was a late rally the brought the major averages off their lows there was no real strength today. Volume was about flat on the day. Market internals were on the weak side. The leaders had a more negative day. They closed off their lows also, but the index undercut it's low of Monday and closed down 1.46% on strong volume. The market is oversold and probably due for a bounce, the the outlook seems pretty bleak to me. Jerry