The market put in a solid session yesterday. After opening slightly higher the major averages spent the rest of the day working their way up. All the major averages finished near their intraday trading highs. The Nasd averages led the way with the COMPQ and the NDX gaining 1.25% and 1.01% respectively. The SPX was higher by .57%. Volume was mixed, higher on the Nasd and lower on the New York. Leading stocks had a good session as well with the leaders index gaining .95% on the day. The index closed high in its trading range on higher and well above average volume. The market continues to act well. The major averages opened higher and rallied the rest of the session. Market internals were strong today in good confirming action. Leading stocks continue to be strong and are also confirming the positive action in the major averages. The leaders index is at a new high on both a closing and an intraday basis. There isn’t much mire to say at this point. The rally is acting well and although it may be a bit extended in the short term, there are few real warning signs out there and the rally continues on solid ground. I will be away for a few days so there will be no updates next week. Jerry
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