The market put in a solid session today. The major averages opened a bit higher and then rallied pretty much into the close. All the major averages finished high in their intraday trading ranges. The COMPQ and the NDX gained .84% and 1.01% respectively. The SPX was higher by .62%. Volume was lower across the board, not surprising as many are away this week. Leading stocks lagged with the leaders index losing .22% on the day. The index closed in the lower half of its trading range on lower and well below average volume. The market had a nice session as the major averages made new closing highs. Volume was lower, but many are away from the markets this week. Market internals were solid today and the major averages finished strong. Leading stocks are mostly lagging the major averages, particularly the NASD averages, but the rally still seems to be acting well overall, you just have to be in the right positions. The market continues to work its way higher and participating is the right thing to do. Tomorrow is a half day and Friday should see little action as long as the employment report doesn’t surprise. Like many others I am going to take the rest of the week off. The updates will resume on Monday. I hope everyone has a good Fourth of July holiday. Jerry
Reply With Quote