The market had a positive session today with the major averages rising between .39% on the SPY and .69% on the NYA. The COMPQ finished with with a .41% gain. All the major averages closed near the highs of the day and volume was up across the board. This constituted an accumulation day. Leading stocks outperformed the overall market with the leaders index rising 1.96% on slightly lower but still well above average volume. The index bounced off it’s 17dma and along with the major averages are holding important moving averages. We still have a dangerously high number of distribution days, but if the market can put in a few more up days on strong volume it will improve the overall picture quite a bit. Jerry
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