Wednesday, June 2, 2010
Stock Market Commentary:
The major averages rallied smartly on Wednesday after a stronger than expected report from the ailing housing sector was released. Volume totals in the US markets were reported mixed compared to Tuesday’s totals; higher on the Nasdaq and lower on the NYSE. Advancers trumped decliners by over a 4-to-1 ratio on the NYSE and about a 4-to-1 ratio on the Nasdaq exchange. There were only 10 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 5 issues that appeared on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but trailed new highs on the Nasdaq exchange.