I missed a couple of updates last week because after a meeting with my accountant and being told how much I have to pay I was nonfunctional for a couple of days. The market continued to work its way higher and the New York averages are at new highs. The Nasd averages have also rallied to just below its highs. The major averages opened higher and rallied into the close. A pop at the end saw all the major averages finish at their intraday trading highs, a sign of support. The COMPQ and the NDX were higher by .51% and .63% respectively. The SPX gained .77%. Volume was lower across the board. It declined 5.39% on the New York and 3.80% on the Nasd. Leading stocks were higher as well with the leaders index gaining .28%. The index closed high in its trading range and made a new high on both a closing and an intraday basis. Volume was higher and above average. The market is acting well. The New York averages are in new high ground and the Nasd averages have recovered and are just below their recent highs. Leading stocks are also acting well as the leaders index has made new highs for the last few days. The higher volume yesterday shows that there is accumulation in leading stocks. Overall the market is acting well and we should see higher prices in at least the short term. Jerry
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