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

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

The basic market leadership is still intact.

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.