The market put in a solid rally today. The major averages opened higher and climbed most of the rest of the day. All the major averages finished near the top of their intraday trading ranges. The COMPQ and the NDX gained 1.43% and 1.32% respectively. The SPX rallied 1.23%. Volume was higher across the board. Leading stocks were strong as well with the leader's index gaining 2.62% on the day. The index closed high in its trading range on higher and about average volume. It also broke above its recent trading range. The market put in a good session today with solid gains in the major averages and leading stocks. The SPX bounced off its 50dma. I don’t really know what this rally means as there are no results. It may be a relief rally after recent selling or maybe the market is expecting a good outcome. Whatever the reason, it was a strong up session and that is a bit of a relief. What happens from here on we will have to wait for some results of the voting. Jerry
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