Thursday, February 28, 2008

Ishares Basic Materials (iym) Breaking Out

NOTE: Please click on the charts below to enlarge them if they do not appear clearly.Stocks followed through on last Friday’s late-day rally, albeit with quite a bit of intraday chop and indecision. The broad market opened flat, rallied in the morning, retraced most of the move at mid-day, then grinded its way above the morning high later in the afternoon. The Dow Jones Industrial Average gained 1.5%, the S&P 500 1.4%, and the Nasdaq Composite 1.1%. Relative weakness in large-cap tech stocks held the Nasdaq’s gain in check, but small and mi[...]

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[Source: The Money Blogs]

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