The market put in a strong session today. After opening lower the major averages found a bottom pretty quickly and rallied most of the rest of the day. A little late selling saw the major averages finish off their highs but still high in their intraday trading ranges. The NASD averaged led the way due to strength in big cap tech stocks. The COMPQ and the NDX gained .95% and 1.24% respectively. The SPC rallied .77%. Volume was higher across the board. Leading stocks rallied as well with the leaders index gaining 1.54% on the day. The index closed high in its trading range on lower and very light volume. The market showed strong action today with the major averages making new highs on higher volume, positive action. Market internals were positive. The rally continues to build. It is a narrow rally but there are clearly opportunities out there. Large gains in individual stocks have been pretty unusual in this rally, but there have been some. There have been a lot of opportunities in the ETFs that have done very well. The market is clearly going higher and while the major averages are stretched from their important moving averages being invested is the place to be. Jerry
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