Stocks Edge Higher On Latest Economic & Earnings Data
Thursday, April 15, 2010
Market Commentary:
Stocks ended higher on Thursday as investors digested Wednesday’s large move and the latest round of earnings and economic data. Volume totals on the NYSE and on the Nasdaq exchange were reported slightly lower compared to Wednesday’s totals. Advancers led decliners by a 4-to-3 ratio on the Nasdaq exchange and were about even on the NYSE. New 52-week highs easily trumped new lows on both exchanges. There were 89 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 86 issues that appeared on the prior session. A healthy crop of new leaders making new highs bodes well for any market rally. Regular readers know we have repeatedly noted in this commentary –“the recent expansion in leadership has been a welcome improvement.”