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发帖数: 1691 | 3 当心 有可能IBD和我们都错了 呵呵
Indexes Mark Follow-Through, Confirming Uptrend
By JUAN CARLOS ARANCIBIA, INVESTOR'S BUSINESS DAILY
Stocks soared Tuesday, signaling that the market correction has ended.
The Nasdaq surged 2.4% and the S&P 500 2%, their best gains so far this year.
Coupled with a solid increase in volume, the two major indexes made a follow
-through signal, which changed the market outlook from bearish to bullish.
The magnitude of Tuesday's move was compelling, if not surprising. Gains
were far stronger than in the previous four follow-throughs, which occurred
on Aug. 13, May 27 and Feb. 11 this year and Oct. 16 last year. Indexes on
those days rose 1% to 1.4% and led to decent gains each time.
So the year's worst correction has, for the time being, ended with a flurry
of buying.
Including Tuesday's rally, the Nasdaq has vaulted more than 7% from its Oct.
15 low, while the S&P 500 has rebounded 6.6%.
Both climbed back above their 200-day moving averages, though they remain
below 50-day lines that are curving slightly downward.
Still, the follow-through is the best signal that a market uptrend is
underway. All other signals are secondary, even though they serve a purpose
by helping investors gauge the market.
Growth stocks thrive when the indexes are in confirmed uptrends, and
evidence of it is already surfacing. The IBD 50 jumped 3.1%, adding to 1%-
plus gains the prior three days.
Akorn (NASDAQ:AKRX), AmTrust Financial Services (NASDAQ:AFSI) and O'Reilly
Automotive (NASDAQ:ORLY)broke out of bases. At least three real estate
investment trusts — a leading sector lately — also broke out.
The small-cap Russell 2000 — a proxy for the more vibrant sectors of the
market — rose 1.6%.
Transportation stocks stood out, as they have during much of the market's
weeklong rally. The Dow transports catapulted 3.1%.
And it's no coincidence that the price of oil has been trading at more than
two-year lows. For airlines, there was additional cheer thanks to reports of
fare increases throughout the industry.
Chips also led, as the Philadelphia semiconductor index roared 3.6%. Some
cyclical stocks got in the act, too, with chemical, steel and machinery
stocks ending among the day's best.
Although clouds have lifted and the market outlook is sunnier now, that
doesn't mean it's time to buy stocks with abandon. The risks of earnings
season haven't gone away, as Chipotle Mexican Grill (NYSE:CMG) has shown.
Start by buying the best few stocks on your watch list as they rise past
proper buy points. They should be institutional-quality companies with
outstanding growth. A look through the latest IBD 50, Sector Leaders and
other screens should give you several fresh possibilities.
If the market continues rising and more leading stocks break out, use the
opportunity to increase exposure.
Why have stocks rebounded so sharply? The reasons are less important than
the fact that the charts have turned bullish.
But some of the good news includes Apple's (NASDAQ:AAPL) solid results late
Monday. And there have been no new cases of Ebola in the U.S. since last
week.
St. Louis Fed President James Bullard stoked Wall Street last week when he
suggested extending bond purchases beyond their scheduled completion.
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