The market rallied back well today after yesterday’s decline. After opening strong the major averages continued to climb the rest of the session and all the major averages closed at their intraday highs. The Nasd averages led the way, regaining all of yesterday’s losses. The COMPQ gained 1.47% and closed at a new high. The SPX rose .92%, not quite back to previous highs. Volume was mixed, higher on the NASD and lower on the New York. Leading stocks had a good session as well with many showing solid gains. The leaders index rose 1.06% and closed near it’s intraday trading high. The index traded below the 9dma but rallied to finish well above this short term moving average. Volume increased substantially and was well above average. There were several stocks in the index with high volume. AMBA, ORBX, and QRVO were higher and SHAK, NKE, and PANW were lower. This shows the difficult nature of this market. Short term moves are quickly reversed and there is no real trend. The only way to make even modest progress in the environment is to use early buy techniques and sell with moderate gains. Jerry
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