The major averages approach session highs once more, albeit in a split fashion, as the Dow Jones Industrial Average clings to a 3 point loss (-0.01%) to 24,203, while the S&P 500 hosts the best Thursday move on a 6 point advance (+0.23%) to 2,621, and the Nasdaq Composite adds 15 (+0.21%) to 7,049. Action has come on lower than average volume (NYSE 239 mln vs. avg. of 313 mln; NASDAQ 877 mln vs. avg. of 1,054 mln), with advancers outpacing decliners (NYSE 1700/1170, NASDAQ 1735/11196) with new highs outpacing new lows (NYSE 16/7, NASDAQ 20/14).
Relative Strength:
Metals&Mining-XME +1.6%, Pakistan-PAK +1.6%, US Nat Gas-UNG +1.4%, Cocoa-NIB +1.2%, Coal-KOL +1.0%, Steel-SLX +1.0%, Materials-XLB +0.9%, US Basic Materials-IYM +0.9%, Turkey-TUR +0.6%, Malaysia-EWM +0.6%, British Pound-FXB +0.5%, Israel-EIS +0.4%, New Zealand-ENZL +0.3%, Canada-EWC +0.3%.
Relative Weakness:
S. Africa-EZA -1.9%, US Oil-USO -1.4%, Greece-GREK -1.4%, Sugar-CANE -1.2%, Singapore-EWS -0.8%, US Home Constr.-ITB -0.6%, Hong Kong-EWH -0.6%, Silver Miners-SIL -0.6%, Colombia-GXG -0.6%, US Telecoms-IYZ -0.6%, Emerging Mkts. Small Cap-EWX -0.6%, Shipping-SEA -0.6%, Mexico-EWW -0.6%, Silver-SLV -0.5%.
