First Day In Five
The S&P 500
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first day in five as a government report showed fewer people filed for jobless
claims than expected last week, fueling optimism the recession is ending. Tyco
International
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At mid-day, the markets’ move to the upside has
slowed down. The tech sector is having a difficult time trying to follow
through. The
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Cisco Systems’
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stall on more buying interest.
Biotechnology stocks edged
lower in early trading Thursday, with shares of Genentech
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DNA |
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the decliners after the company disclosed a setback with an experimental
treatment for heart failure.
Shares of major oil-related
companies have been declining Thursday after Royal Dutch/Shell
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said its fourth quarter profit suffered from lower crude and natural gas prices.
Bank stocks have been rising Thursday on investor
purchases of J.P. Morgan Chase
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In the Retail sector AnnTaylor
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is on the rise. The women’s career clothing retailer projected profit this year
that topped analysts’ targets as January sales at stores open more than a year
surged 15%. The company beat sales expectations as it marked down prices to
clear out seasonal merchandise.
Lennar Corp
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LEN |
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relative strength rank of 94 and an uptrending ADX of 33. LEN is trading at
51.79, down .66.
Accredo Health
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all-time highs on stronger volume. ACDO has a 3-month
relative strength rank of 96
and an up trending ADX of 33. ACDO is higher today by .19 to 55.21.
Golden West Financial
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of a pullback to the 20-day moving average. GDW is up 1.01 to 62.04 and
holds a 3-month
relative strength rank of 80 with an uptrending ADX of 34 from
TradingMarkets.com.
The Nasdaq
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the very important support level of 1800 to 1790 and has since rallied back
above 1800. If the Nasdaq breaks below 1800, we will look at the next key
support level of 1763. The S&P 500
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so far. Its resistance level is at 1095.