Day 1 Of A New Rally Attempt
Wednesday, January 27, 2010 Market Commentary
The major averages positively reversed on Wednesday which marked day 1 of a new rally attempt. It was encouraging to see volume expand compared to the prior session which indicated that large instiutions were accumulating stocks. Decliners led advancers by a 10-to-9 ratio on the NYSE and trailed by a 5-to-8 on the Nasdaq exchange. There were 10 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, higher than the 6 issues that appeared on the prior session. New 52-week highs still outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.