Well amidst todays morning decline i'd like to celebrate something important that No One is talking about. I have been just about the only member of the investment community who has been pointing out for months the significance of the Nasdaq crossing 2500. That is the 1/2 retrace of the great decline. Although no one can point to any corresponding trendlines I have been of the idea that Mr. Market- the living entity- was going to have one hell of a battle getting through that psychological barrier. And indeed it has been a battle... The small-cap Russell 2000 turned in the best performance with a 1.0% advance yesterday. Turnover in the NYSE declined by 3% yesterday, but total volume in the Nasdaq surged 15% above the previous day's level. The solid gain on firmly higher volume enabled the Nasdaq to register its second "Accumulation Day" within the past five sessions. Strong market internals also confirmed the institutional buying. Advancing volume in the Nasdaq exceeded declining volume by a margin of 3.5 to 1. The NYSE ratio was positive by only 3 to 2. Yesterday, all but one of the major indices closed at a new high. The S&P 500 and Nasdaq Composite both finished at six-year highs, while the Dow, S&P Midcap, and Russell 2000 indices all finished at record highs. Only the tech-concentrated Nasdaq-100 Index remains in a range. It was significant that the Nasdaq Composite finally cleared resistance just over the 2,500 level. Last week, the Nasdaq was in the process of completing the right shoulder of a bearish "head and shoulders" chart pattern, but the rally over the top of the "head" (the high of January 16) has invalidated the pattern. With the S&P, Nasdaq, and Dow all trading at new highs, there is literally a complete lack of overhead supply and price resistance.