After some negative action the market put in an overall positive session today. The major averages opened little changed but soon started rallying and the buying continued into the close. There were solid gains that were evenly divided. The COMPQ and the NDX gained .82% and .78% respectively. The SPX rallied .85%. All the major averages finished close to their intraday trading highs. Volume was mixed. It was higher by 19.90% on the New York and lower by 5.22% on the Nasd. Leading stocks had a positive session as well with the leaders index gaining 1.79% on the day. The index closed high in its trading range on about flat volume. Other ETF’s of leading stocks rallied as well. After a week of poor action the market rallied today. The action was pretty decent as the market closed strong on higher volume, at least on the New York. The outperformance in quality growth stocks is good, but the leaders index has not broken into new high ground yet and recent action is looking a little sloppy on the chart. Today’s action was good, but the overall picture still looks a little shaky in the short term. There will be no updates for the next couple of days. They will resume on Tuesday. Jerry
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