Stock Market Commentary for Tuesday, May 24, 2005

Monday was yet another "treading water" trading session as market participants struggled to discern whether or not the recent run-up still has legs.  Traders and short-term speculators made some serious attempts to test for weakness, but in the end enough real buyers showed up to keep the run-up alive, for now, with Nasdaq gaining a moderate 10.23 points.

The only significant economic news is that retail gasoline prices continue to fall.

Nasdaq trading volume was light (1.68 billion shares), and breadth was modestly positive, with 1.20 gainers for each loser.  This was not a strong rally.

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-- Jack Krupansky