The market put in on slightly positive session today. The major averages opened little changed but were generally higher through the session. The Nasd averages were the strongest with the COMPQ and the NDX higher by .43% and .63% respectively. The SPX gained .23%. All the major averages finished in the upper half of their intraday trading ranges. Recent leaders in the small and mid-cap sectors pulled back today. Volume was lower across the board. It fell 7.75% on the New York and 1.56% on the Nasd. Leading stocks took a break today after a solid recent advance. The leaders index fell 1.04% on the day. It closed low in its trading range on lower and very light volume. The market was overall slightly positive today. The Nasd averages were the leaders but all the major averages moved moderately higher. The recent leaders in the small and mid-cap stocks, along with the semiconductors consolidated their gains in a fairly constructive manner. Leading stocks have acted very well recently and the leaders index declined modestly on very light volume. This is constructive. Right now the market is still acting fairly well and it looks like we have not seen the top yet. Jerry
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