Market Summary for 1/24/2008

Markets:

The markets continued their move higher and have moved significantly off of the lows from earlier in the week.


The Markets are on sell signals, but the NYSE has reversed up into Xs.

NASDAQ BP: 18%
NYSE BP: 20%

Stock Movement Summary:

Created X: 643 O: 96
New Signals: Buy - 105, Sell - 8
New Reversals: Up - 776, Down - 83
Broke Double Tops/Bottoms: Tops - 16, Bottoms - 11

As anticipated, a lot more stocks are now showing signals and reversing up. Even though it wasn't a huge gain on the day, the movements from the day earlier helped show that a lot more stocks are moving higher than was evident yesterday.

Sector Performance Yesterday
S&P Equal Weight: +0.68%%

Best Sectors:
Precious Metals: +5.58%
Internet: +5.42%
Steel/Iron: +4.54%

Worst Sectors:
Real Estate: -1.50%
Biomedics/Genetics: -1.03%
Utilities / Electrical: -0.83%

Sector Signals:
The Real Estate and Wall Street sectors created buy signals yesterday. Real Estate reversed up from a low of of 10% and is currently at 28% BP. Wall Street also reversed up from a low of 12% to created a signal at 32% and currently sits at 46%.


New Stock Signals
No new signals, but look for opportunities in the Real Estate and Wall Street sectors due to the sector buy signals.