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Point & Go Figure: SIFY, IFN, PPH

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I'm just taking a break!

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Market Overview:
On Friday the percent of stocks above their 50-day moving average indicators for the NYSE and Nasdaq Composite both reversed to negative. The short-term High-Low indicators remain extended and in high-risk areas.

Bottom line: Short-term indicators are growing increasingly negative across the market and remain in high-risk territory. Long-term indicators, though still positive for the NYSE and NASDAQ Composite, are in high risk areas and showing the long-term trend of diminished participation still intact. Bullish Percent indicators are negative for the Dow Jones Industrials, the Nasdaq 100 and the S&P 100, but remain positive, though deteriorating, for the Russell 2000 and S&P 500.

Charts of Interest:
Satyam Infoway Limited (SIFY)
(Chart courtesy Dorsey Wright)

Satyam Infoway Limited (SIFY)
(Chart courtesy Thomson Financial)

India Fund (IFN)
(Chart courtesy StockCharts.com)

Pharma. HOLDRs (PPH)
(Chart courtesy Dorsey Wright)


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No positions in stocks mentioned.

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