The market bounced back pretty nicely today. The major averages opened higher and mostly worked their way up the rest of the day. All the major averages finished high in their intraday trading ranges. The COMPQ and the NDX gained 2.21% and 2.18% respectively. The SPX rallied 1.56%. Volume was lower across the board. Leading stocks had a strong session as well. The leaders index gained 4.20% on the day. The index closed in about the middle of its trading range on higher and about average volume. The market staged a solid rebound today after Friday’s selloff. The major averages recovered a bit over half of Friday’s decline, and that is pretty good. Leading stocks showed very strong action today, with the leader’s index and various baskets showing strong gains. Volume was lower, but that is to be expected after such heavy volume on Friday. The market must continue to rally if Friday is to be just a one hit wonder. Trump seemed to back off the China rhetoric which helped the market move higher. Earnings season kicks off tomorrow with some big banks reporting and more later in the week. A strong earnings season would be a big help to the rally. Jerry
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