The market put in another solid session today. The major averages opened higher and mostly rallied all day. Late strength saw all the major averages finish near the top of their intraday trading ranges. The NASD averages led the way with the COMPQ and the NDX gaining 1.58% and 1.40% respectively. The SPX was higher by .80%. Volume was higher across the board. This was a follow on follow through like day on the NASD averages. Leading stocks were the party poopers and were mostly lower on the day. The leaders index lost 2.30% on the day. The index closed high in its trading range on lower and below average volume. The market continued its strong action today. The major averages showed strong gains on higher volume, and closed strong. This is a continuation of recent positive action. All the major averages made it into new high ground today, again on higher volume. The only negative today was the action in leading stocks. They were lower on the session, but have been strong lately. Oil prices gave up early gains and that helped fuel today’s rally. Earnings season will be in full gear for the next few weeks, but estimates are good. Right now things look good and the rally seems to be gathering steam. If things stay relatively calm in the Middle East and earnings are good we could see a very nice rally. Jerry
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