The market put in another positive session with the major averages posting nice gains. The major averages opened mixed but then rallied nicely into the close. All of them finished near the top of their intraday trading ranges. The COMPQ and the NDX gained .94% and .73% respectively. The SPX rallied .47%. Volume was lower across the board. Leading stocks were higher as well, but lagged the overall market. The leaders index gained .37% on the session. The index closed in about the middle of its trading range on lower but above average volume. . The market put in a good performance today, despite the lower volume. The New York averages made new highs while the NASD averages a just below Monday’s highs. The ADP report came in weak but the market still did well. The employment report comes out tomorrow and that could effect the market. Right now the rally looks like it is on solid ground. It has come a long way in a pretty short time so a consolidation or mild correction would not be unexpected, but the overall picture looks pretty good right now. I will be away for a bit, the updates will resume a week from Monday. Jerry
Reply With Quote