Market Summary for 1/28/2008

Markets Snapshot:

The markets continued their move higher, but the NASDAQ is still in Os. It will only take less than half a percent of stocks to move to Xs.


NASDAQ BP: 19%
NYSE BP: 22%

Stock Movement Summary:

Created X: 297 O: 135
New Signals: Buy - 29, Sell - 9
New Reversals: Up - 166, Down - 327
Broke Double Tops/Bottoms: Tops - 6, Bottoms - 7

Although the day ended higher, the day still shows somewhat mixed results as evident by the 2:1 of reversals down to up. It doesn't look like all of the stocks were convinced of the need to go higher.

Sector Performance Yesterday
S&P Equal Weight: +2.11%

Best Sectors:
Retailing: +2.83%
Real Estate: +2.71%
Savings & Loans: +2.67%

Worst Sectors:
Internet: -0.56%
Restaurants: -0.26%
Aerospace Airline: +0.47%

Sector Signals:
No new signals

New Stock Signals
Bullish Catapult: VVUS - Low priced stock breaking out of base?

Bearish Catapult: UTHR - Not much support until it hits the mid 60s.