The market had a quiet session today with a mildly negative bias. The major averages opened little changed and bounced around the zero line most of the session. Some late selling saw all the major averages finish low in their intraday trading ranges. The COMPQ and the NDX fell .24% and .25% respectively. The SPX declined .14%. Volume was mixed, lower on the New York and higher on the NASD. Leading stocks were also moderately lower. The leaders index fell .51% on the day. The index closed low in its trading range on lower and well below average volume. The market was quiet today and was set to close about unchanged until some late selling. Most market participants are not there right now and it will be the same tomorrow and Friday. The market has done little in recent days and likely will until things get back to normal next week. The market action in early January will likely tell us if the rally has much further to go. It has been another good year despite the short V bottom bear market after the tariffs were announced. The market rallied strongly and produced a very solid up year. I will talk a little more about this later. Tomorrow will probably be another quiet day so there will be no update tomorrow. I hope everyone has a good New Years celebration. Jerry
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