The market opened weaker today and spent the rest of the day rallying a bit. When it was all over the major averages were little changed although they closed near the highs of the day. Volume was mixed, slightly higher on the Nasd and slightly lower on the NYSE. Leading stocks outperformed the overall market with the leaders index rising .94% on about unchanged volume. The index is stuck below it's 50dma and would have to break above it to get anything going . The major averages are still struggling with their 200dma's, with the SPX a bit above and the rest unable to break above. Today didn't really tell us anything. The market is still stuck in it's trading range and no recent breakouts have produced real gains. If we don't get a meaningful move up I suspect the market will resolve the recent indecision to the down side. Jerry
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