It was a quiet session today with the major averages trading in extremely tight ranges. They all closed at their intraday highs and were little changes. The COMPQ declined .06% while the SPY fell .02%. Volume was higher than yesterday but still well below average. Leading stocks continued to consolidate their gains and the leaders index also finished up only .06%. Volume was higher although still well below average. The basing action of the last five sessions has allowed the 9dma to catch up to the index and the distance to the 17dma is closing. We will likely see quiet action tomorrow and the rest of the week. Next week when everyone is back at work will tell us more about the state of the rally going forward. Jerry
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