Stocks Negatively Reverse After Encountering Resistance

Stocks Negatively Reverse After Encountering Resistance

Byinfo@50park.com

The major averages negatively reversed (opened higher and closed lower) after a the European Central Bank (ECB) held rates steady and disappointing economic data was released. Volume, an important indicator of institutional sponsorship, was mixed compared to Wednesday’s levels; higher on the NYSE and lower on the Nasdaq exchange. As a result, the NYSE indexes marked a distribution day as they fell on higher volume but the Nasdaq avoided one since volume receded.

Dow Hits New 2009 Closing High As Dollar Falls

Dow Hits New 2009 Closing High As Dollar Falls

Byinfo@50park.com

Stocks rallied across the globe as the dollar fell and the Dubai World concerns eased. Volume was lighter than Monday’s levels as the major averages advanced. Advancers trumped decliners by almost a 4-to-1 ratio on the NYSE and by a 2-to-1 ratio on the Nasdaq exchange. There were 45 high-ranked companies from the CANSLIM.net Leaders List making a new 52-week high and appearing on the CANSLIM.net BreakOuts Page, higher from the 13 issues that appeared on the prior session. New 52-week highs reported outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange