The market put in an overall positive performance. The major averages opened lower but quickly found a bottom and rallied most of the day. All the major averages finished high in their intraday trading ranges. The COMPQ and the NDX gained .17% and .20% respectively. The SPX rallied .30%. Volume was higher across the board. Leading stocks were higher as well. The leaders index gained 1.17% on the day. The index closed high in its trading range on lower and below average volume. The market had a solid rally session today. The major averages sold off early on news from MSFT, but instead of turning into a selloff the major averages found a bottom and rallied into a strong close. The gains in the major averages were moderate, but the equal weighted ETFs of the major averages did better. Market internals were strong today as well. The fact that the market closed strong on higher volume is also encouraging. It is looking more and more like the market has righted itself and that the rally has resumed. There is still the Fed next week and the PCI on Friday, but right now the market is acting a lot better. Jerry
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