Cautious Follow-Through Day Confirms New Rally

Tuesday, March 2, 2010
Market Commentary:

The paper categorized Monday’s gain as a “cautious follow-through day” which confirmed the latest rally attempt. Stocks edged higher on Tuesday after India’s economy grew nicely last year and speculation spread that the European Union will bail out Greece. Volume, a critical gauge of institutional demand, was reported higher on both major exchanges compared to Monday’s levels. Advancers led decliners by a nearly a 3-to-1 ratio on the NYSE and by a 2-to-1 ratio on the Nasdaq exchange. New 52-week highs trumped new lows on both exchanges which was another welcome sign while there were 76 high-ranked companies from the Leaders List that made a new 52-week high and appeared on the BreakOuts Page, up from the 69 issues that appeared on the prior session.

India’s Economy Lifts Stocks:

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