The market put in another solid session today. The major averages opened higher and after some selling on trade news rebounded into the close. All the major averages finished high in their intraday trading ranges. The COMPQ and the NDX gained .52% and .39% respectively. The SPX rallied .52%. Volume was nicely higher across the board. Leading stocks lagged today. The leaders index fell .92% on the session. The index closed high in its trading range on much higher volume. The index also held all its short term moving averages. The market acted well today. The COMPQ and the SPX joined the NDX in new high ground. All finished strong and with nicely higher volume. This is positive. The market sold off intraday on trade news with Canada, but rallied back by the close . This is also positive. The PCE report came in pretty close to expectations and had little effect. The major averages have now broken into new high ground and they did it on strong volume. Leading stocks lagged today but are still doing well. The distribution count is also coming down due to time and price advances. The rally is on solid ground now. Some trade deals being completed and the passage of the tax bill could give the market a kick. Right now the market looks like it wants to go higher. Jerry
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