The market put in another solid session today. The major averages gapped open again and worked their way up most of the session. All the major averages finished high in their intraday trading ranges. The NASD averages led the way with the COMPQ and the NDX gaining 1.51% and 1.54% respectively. The SPX rallied .74%. Volume was mixed, higher on the NASD and lower on the New York. Leading stocks rallied as well with the leaders index gaining 1.12% on the day. The index closed in the upper half of its trading range on slightly lower volume. The market continued the rally started on Tuesday and had another good session. All the major averages showed good gains and closed strong. The Fed announcement and the press conference didn’t move the market much. All the major averages made new all time highs. The biggest gains were in the NASD averages and they did it on very high volume. A lot of the uncertainty is now out of the way and the rally looks like it is on solid ground. As long as it stays that way just take the ride. Jerry
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