Stocks Rally As Inflation Eases
Wednesday, March 17, 2010
Stocks rose, sending the Dow Industrial average and the benchmark S&P 500 index to a fresh 18 month high and the Nasdaq composite rose to a fresh 19 month high after the latest round of healthy economic data was released. Volume totals were mixed; higher on the Nasdaq and lower on the NYSE compared to the prior session. Advancers led decliners by nearly a 3-to-1 ratio on the NYSE and by a 8-to-5 ratio on the Nasdaq exchange. There were 77 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.netBreakOuts Page, up from the 54 issues that appeared on the prior session. New 52-week highs again overwhelmingly trumped new lows on both exchanges. The number of new highs on the NYSE jumped to the highest level since 2005 which is a very healthy sign.