The market put in another positive session yesterday. The major averages opened little changed and mostly went sidways the rest of the day with a slight positive bias. All the major averages closed high in their intraday trading ranges. The COMPQ and the NDX rallied .16% and .17% respectively. The SPX was higher by .35%. Volume was lower across the board. Leading stocks had a good day too with the leaders index gaining 1.48% on the day. The index closed high in its trading range on higher and about average volume. The market had a good session overall yesterday. The major averages had moderate gains, although the NASD averages continue to be held back by sluggish action in the large cap tech stocks. There was real strength in small and mid-cap stocks and market internals were very good. The rally seems to be broadening out a bit, and that is encouraging for the sustainability of the rally. Leading stocks are acting well and are outperforming the overall market right now. We seem to be on solid footing now and the rally should continue. Jerry
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