Leaders Index 2-12

The market was up slightly most of the day and finished mixed. The New York averages were up a bit while the COMPQ and NDX were down. Volume was higher across the board but still below average. The COMPQ just missed a distribution day by being down only .17%. Leading stocks were mixed with the leaders index declining .94% on higher but still below average volume. The index is stuck in a side ways pattern and has been trading around it’s 9 and 17dma’s for almost two weeks. It should stay above these important moving averages to remain healthy. It’s RS line is not acting to well as it is showing declining tops. The rally is still intact, especially in the major averages, but is acting a bit tired. Jerry