The market put in a solid rally today. The major averages had a strong open and held on to it for the rest of the day. The gains were pretty evenly divided with the COMPQ and the NDX higher by .69% and .64% respectively. The SPX was higher by .58%. The major averages finished mostly in the upper half of their intraday trading ranges. Volume was mixed but not much changed from yesterday’s levels. It was lower by 1.12% on the Nasd and higher by .44% on the New York. Leading stocks were higher as well with the leaders index gaining .37% on the day. Other growth oriented ETF’s did a bit better but the index closed high in its trading and right on its 17dma. Volume was lower and below average. The action of the market was positive today and it continues to build on recent gains. There were new highs today on multiple major averages, which is a good sign. Volume was not much changed but overall the action is encouraging. Quality growth stocks are acting well overall and are slightly outperforming the overall market, usually a good sign. The market is acting like it wants to go higher and likely will in at least the short term. There will be no update tomorrow. Jerry
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