Tuesday, January 5, 2010
The major averages closed mixed after spending most of the session in the red as investors digested the latest round of mixed economic data. Volume, an important indicator of institutional sponsorship, was reported higher than Monday’s totals which indicated large institutions were not aggressively dumping stocks. Advancers led decliners on the NYSE but trailed by a small margin on the Nasdaq exchange. There were 58 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, lower than the total of 63 issues that appeared on the prior session. New 52-week highs solidly outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.