The market had a mostly quiet session today with a moderate upside bias. The major averages opened higher and bounced around unchanged most of the day until some late strength saw them finish high in their intraday trading ranges. The COMPQ and the NDX gained .37% and .21% respectively. The SPX rallied .17%. Volume was higher across the board, but very close on the Nasd. Leading stocks were mixed. The leaders index was down a bit, but other ETF’s of leading growth stocks showed small gains. The index fell .20% and closed in about the middle of its trading range. Volume was lower and just below average. The market didn’t do to much today, at least on the surface. The market seems to be treading water in the last few days. The Nasd averages are still struggling with round numbers and the SPX has flattened out after making a new high. Under the surface there was some better action. There was strength in small cap stocks and market internals were good. Maybe a good inflation report on Thursday will get things moving again. There are few real red flags out there right now and the rally likely has a bit more to go. Jerry
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