Leaders Index 1-17

The market opened strong today but spent the rest of the day selling off. The major averages closed near the lows of the day so even though it closed with solid gains some of that positive action was lost. Volume was mixed, slightly higher on the Nasd and lower on the NYSE. Leading stocks outperformed the overall market as the leaders index rose 1.30% on higher but still below average volume. The tone of the market continues to be better than in the recent past but few stocks are producing meaningful gains. We will have to see better action from quality stocks for this rally to really turn into something. Jerry