Day 7: Light Volume Fails To Confirm The Latest Rally Attempt

Tuesday, February 16, 2010
Market Commentary:

The major averages ended higher after the latest round of stronger than expected economic and earnings data was released. Volume, a critical indicator of institutional sponsorship, was lower than the prior session on both exchanges which prevented the major averages from producing a sound follow-through day.  Advancers trumped decliners by a large margin on the NYSE and Nasdaq exchange.  New 52-week highs outnumbered new lows on both exchanges.  There were 35 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, up from the 18 issues that appeared on the prior session.

Strong Manufacturing Data Lifts Stocks:

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