Market Summary for 1/22/2008

Markets:

The markets continued their slide as about 40% of stocks notched an O. With so much negative thoughts out there, it is time to review those stocks in strong sectors that have held up the most - any bouce and they will be the leaders.

Over the last 30 days, the S&P equal weight is down over 12%. Here are the best sectors during that time - you might want to spend some time getting to know the best performing stocks in those sectors and be ready in the event of any signs of recovery.

Precious Metals: -2.67%
Drugs: -3.99%
Utilities /Gas: -6.14%
Healthcare: -6.23%
Biomedics/Genetics: -6.58%




The Markets are on sell signals. My P&F charts go back to Jan 2005 and this is the lowest BP level we have seen since then.

NASDAQ BP: 16%
NYSE BP: 15%

Stock Movement Summary:

Created X: 149 O: 2182
New Signals: Buy - 19, Sell - 200
New Reversals: Up - 134, Down - 413
Broke Double Tops/Bottoms: Tops - 7, Bottoms - 234

Sector Performance Yesterday
S&P Equal Weight: -0.30%

Best Sectors:
Retailing: +2.83%
Textiles / Apparel: +2.79%
Wall Street: +2.35%

Worst Sectors:
Metals Non Ferrous: -3.89%
Waste Management: -3.44%
Utilities / Electrical: -3.42%

Sector Signals: (All sectors are on a P&F BP sell signal except Precious Metals)
No New Signals
All sectors are in Os.

New Stock Signals
Bearish Catapult: AMWD
Bearish Catapult: BBEP
Bearish Catapult: COF
Bearish Catapult: CYNO
Bearish Catapult: EPG
Bearish Catapult: EROC
Bearish Catapult: EFOI
Bearish Catapult: FFA
Bearish Catapult: HRS - looks good for a continued downturn if it can break below 46
Bearish Catapult: JPZ
Bearish Catapult: LEA
Bearish Catapult: EZCH - doesn't have much support until 8.50
Bearish Catapult: MCO
Bearish Catapult: MGAFF.PK
Bearish Catapult: NAFC - if it goes below 31, no support until 24
Bearish Catapult: PCAP
Bearish Catapult: RX
Bearish Catapult: SBUX
Bearish Catapult: SOLF - has a ton of support here around 15, could bounce
Bearish Catapult: SXL
Bearish Catapult: SYNO
Bearish Catapult: UPS
Bearish Catapult: VALU
Bearish Catapult: WYE


** As always - do your own homework before buying/selling any stocks listed here. I am not certified for financial planning. These are just my opinions...