The market put in a solid session yesterday. The major averages opened higher and mostly worked their way up the rest of the session. All the major averages finished near the top of their intraday trading ranges. The COMPQ and the NDX gained 1.14% and 1.44% respectively. The SPX rallied .80%. Volume was mixed. Higher on the New York and slightly lower on the Nasd. Leading stocks had a good day as well with the leaders index gaining 1.48% on the day. The index closed high in its trading range on lower and below average volume. The market put in a good session yesterday with solid gains and a strong close. It would have been better to have higher volume on the Nasd, but you can’t always have everything. Both the COMPQ and the NDX cleared the 16,000 and 18,000 levels they have been struggling with. This is encouraging. All the major averages made new highs for the rally and all time. The action yesterday was encouraging, and while the rally is getting a bit on the old side, it appears it is not over yet. Jerry
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