The market continued its consolidation in an overall positive way. The major averages opened lower and bounced around all day before closing in the lower half of their intraday trading ranges. The NASD averages were weaker with the COMPQ and the NDX declining .26% and .16% respectively. The SPX was higher by just .02%. Volume was higher across the board, although it was very close on the New York. This produced a distribution day on the COMPQ. Leading stocks were lower as well with the leaders index falling .44% on the day. The index closed low in is trading range on higher but below average volume. The market continued its consolidation today, but is acting pretty well so far. The major averages have been trading in a very tight range since 11/7. They have been consolidating the gains of last week in a positive manor. The only potential problem I can see is that if interest rates move higher. Right now it looks like the market is acting well and the rally is on solid ground. Jerry
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