Leaders Index 5-27

The market rallied yesterday and the major averages closed near the highs of the day. Volume was low as you would expect before a holiday weekend. The major averages regained their 50dma's, which is positive. The leaders also rose with the leaders index up about in line with the major averages. Volume was also light. The leaders and the overall market tone have improved in the last couple of days, but it is probably to soon to get excited and the next few days action will tell us a lot about where the market is headed. Jerry