Traders Cooperative

[cdseller]

Yesterday the Big board was up 1.52% The Naz 1.17% and the S&P 1.30%.

It seems the "headline" # was goosed the most. I have a friend who casually follows the market and he said to me yesterday. "Hey did you see the market was up 150!"

But what really is going on with those 30 stocks? How many of them have 20 and 50 period moving averages clearly on the rise?

http://stockcharts.com/scripts/php/candleglance.php?AA,AXP,BA,BAC,CAT,CSCO,CVX,DD,DIS,GE,HD,HPQ,IBM,INTC,JNJ,JPM,KFT,KO,MCD,MMM,MRK,MSFT,PFE,PG,T,TRV,UTX,VZ,WMT,XOM

I can count 4. BA KFT MCD PG. Three of those are defensive plays.

RE yesterdays rally "Im still from Missouri mister"

BPs still got mildly worse. The McClellans began to reset from oversold state.

JMHO
cd