The market was little changed all day and the major averages closed down between .23% and .52%. Volume was lower across the board so we avoided a distribution day but they all closed in the lower half of their daily trading range. Leaders did a little better than the overall market with the leaders index rising .22%, also on lower volume. The index held the 9dma again. We are still consolidating recent gains and the major averages, except for the small caps, are holding above their 10dma's. We will have to wait and see if this is a consolidation or a real pullback develops, bit right now the major averages and leading stocks are still acting pretty well. Jerry
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