Leaders Index 6-9

The market rallied today after a week of going straight down. Even though the major averages gave up some gains going into the close, they still closed in the upper half of the daily range. Market internals however were not impressive and volume was lower across the board. The leaders rallied about in line with the major averages, but volume was lower even though it was above average. Overall the rally today was not very impressive as it clearly lacked conviction. Maybe it can improve in the next few days, but it is hard to get excited about today's action. Jerry