Stocks End Mixed As Investors Digest A Slew of Earnings
Monday, April 19, 2010
Market Commentary:
The major averages ended mixed after Daimler AG (DAI +5.70%) & Citigroup (C +7.02%) reported better-than-expected results and news broke that the Securities and Exchange Commission did not unanimously approve pursuing a case against Goldman Sachs Group Inc. (GS +1.63%). As expected, volume, an important indicator of institutional sponsorship, slid compared to Friday’s heavy options related totals. Decliners led advancers by nearly a 11-to-8 ratio on the Nasdaq exchange and by nearly a 17-to-10 ratio on the NYSE. New 52-week highs still easily trumped new lows on both exchanges. There were only 16 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 37 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.”
SEC Split On Goldman Case & Healthy Earnings Lift Stocks: