The market opened higher today and was up the whole day. The major averages climbed between .67% on the SPX and .78% on the COMPQ. They closed near their highs of the day, which is positive, and they regained their 10dma’s. The only real problem with the day’s action was that volume was lower across the board. You would like to see higher volume on a bounce after a few down days. Leading stocks did quite a bit better than the overall market with the leaders index rising 1.99% and closing near it’s intraday highs. It also closed back above it’s 9dma. Volume mirrored the major averages and was lower on the day and below average. It would have been better if there was more conviction in today’s move, but overall it was a solid up day. Jerry
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