The market had a strong up day with the major averages rising between .56% on the SPY and .64% on the NYA. They all broke above recent consolidation patterns and set new highs for the move. Volume was higher across the board and they all closed in the upper part of their trading ranges. This is positive action. Leading stocks did a little better than the overall market with the leaders index up .79% on slightly lower and about average volume. The index is holding it’s 9dma and has been consolidating for the last six trading sessions. The MEM went to +5, or fully invested, and is now in the power trend. The rally is on solid ground and one must now guard against over exuberance, but things look good. Jerry
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