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Last week Chip blogged about the new reports and market summary articles from the DecisionPoint Merger.
Snooping through to see what was available was a very nice condensed list of different areas of the market. Friday's market had some interesting reversals which was just one brief part of these major reports.
Out of this top 15 list, the Retail SPDR was the largest improvement. Up 1.8%. Notice the Consumer iShares and the Cyclicals iShares. The Brokerage Industry and the Bankers were both bouncing. Notice the Biotech iShares, Healthcare, Medical and Healthcare iShares are also part of the group. This is a complete reversal from all the oversold industry groups. The Russell touched its 200 DMA last week and appears to be bouncing from there.
Having these closing summaries on StockCharts is real nice collection of information. There is a huge amount included every day. I just took a brief snapshot as it confirmed some of my thoughts.
You can find them in the blogs listing (drop down menu) on the right hand side of every blog page. Click on the blogs tab, and scroll through the list on the drop down menu.
Good trading,
Greg Schnell, CMT
