Leaders Index 9-5

The market traded in a fairly tight range around unchanged today with the major averages mostly slightly down on the session. Volume was mixed, slightly down on the Nasd and up on the New York. The lower volume on the COMPQ prevented a distribution day. Leading stocks held most of yesterday's gains as the leaders index declined .42% on slightly lower volume. We have two big news items coming in the next two days. The ECB bond purchases tomorrow and the employment report on Friday. They will likely set the tone for the rest of the week. Jerry