The basic market leadership is still intact.

Airlines have been under so much pressure, they really haven't been a leadership category.

The rebound indicates the market is not overbought. But the basic market leadership is still in tact.

The basic market leadership is still intact. It's the nature of this market to correct in an abrupt, steep but short-lived fashion.

I'm not reading too much into the past couple of trading days. The longer-term trend has for the most part been positive.

Just the fact that the market has been able to hold in a trading range in this environment is bullish.