The market has put in some solid action in the last few days. Today the market opened higher and mostly held the gains during the session. All the major averages finished high in their intraday trading ranges and with solid gains. The Nasd averages led the way with the COMPQ and the NDX gaining .83% and .79% respectively. The SPX rallied .69%. The small and mid-cap stocks were even stronger today. Volume was higher across the board, showing good buying pressure. Leading stocks were generally higher but the leaders index was held back by weakness in a couple of components. The index was about unchanged but has been strong in recent days. ETFs of leading growth stocks did well. The market has acted well in the last week or so. The rally has broadened out as small and mid-cap stocks have started to rally. Volume confirmed recent up days in accumulative action. The market is rallying well, but the major averages, particularly the Nasd averages, may be getting a bit extended in the short term. Some leading stocks are starting to also produce nice gains. It’s a tough market, but recent action has been good. If you have been in the right places the gains have been substantial. There are a lot of cross currents out there and the market is a little extended, but the market is showing some strength here. Be invested, but also stay close to the exits. Jerry
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