The market put in an ok performance with modest gains in the overall market. The major averages all closed strong and near their intraday trading highs. The COMPQ and the NDX were higher by .24% each. The SPX advanced .38%. Volume was mixed, higher on the NASD and lower on the New York. Leading stocks were moderately lower on the day. The leaders index fell .34% and closed in about the middle of its trading range. Volume was very low. The index held its important 17dma, but the relative strength line of the index is looking wobbly. The market put in a moderately positive session today. The major averages showed some gains and closed strong. This is good. The market seems to be slowly working its way higher. Leading stocks are still acting well overall with the leaders index holding support and near its highs. The charts of the major averages also look good and they are also near their recent highs. The test now is for the major averages and the leaders index to break into new high ground, hopefully on higher volume. That would be a signal for higher prices. The old highs will provide considerable resistance, but breaking above them is necessary for the rally to continue much more. Jerry
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