Thursday, April 24, 2008


Date: 04/24/2008
Open: $51.91
High: $52.60
Low: $49.71
Close: $50.92
Volume: 2,828,042
Advances: 28
Advances >=4%: 2
Daily Change: -2.049%
Dow: +0.67%
Nasdaq: +0.99%
S&P: +0.64%
Today was a crazy day. The IBDindex dipped below its 10-day moving average, dropping over 2% on the 3rd highest volume day since I've begun tracking it. All this on a day when the major indexes managed to reverse an early morning sell-off into a moderate sized rally, breaking through recent resistance. The IBD100 simply never followed the broader market rally. It is quite possible we have a sector rotation in the works with new leadership emerging not currently on the IBD 100. It will be interesting to see what the turnover rate on the IBD100 list is this weekend.

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