Stocks End Near Lows; Financials & Housing Stocks Lag
Monday, April 26, 2010
Market Commentary:
The major averages ended mixed to mostly lower after weakness emerged from the closely followed financial and housing sectors. Volume on Monday was reported lower compared to Friday’s totals on both major exchanges. Decliners led advancers by a small margin on both exchanges. Meanwhile, new 52-week highs easily trumped new 52-week lows. In addition, it was encouraging to see new lows fall to the single digits on both exchanges. There were 91 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 80 issues that appeared on the prior session. A healthy crop of new leaders making new highs bodes well for any market rally.