Leaders Index 5-31

The market had a good rally today with all the major averages up over 1% with strong volume across the board. The major averages all closed at the highs of the day. The Nasd closed strongest, up 1.37% and IBD called an FTD on this index. The leaders did a bit better than the overall market, rising 1.51% on strong volume. The action today was positive, but I am skeptical of the FTD call. There was no Eureka today and while the weekly Coppock looks to be turning up it did not go negative. You can call a Coppock signal if it is close and it is right now, but I would tread lightly. Jerry