The market was up all day and developed a strong rally, but lost much of it in the last half hour. The major averages still closed with good gains of about 1.25% to 1.60%. Volume increased on the Nasd and declined on the NYSE. Leading stocks performed about in line with the overall market with the leaders index up 1.38% on higher but still below average volume. The Nasd touched the 2600 level today, which is the most important resistance level right now, and then sold off to close below it. If the index can break above this resistance with conviction it may well rally higher, if it can't it will likely go back and test the lows of the recent consolidation, at least. Jerry
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