Major averages rose yesterday on higher volume. A number of big cap stocks surged in price from constructive basing patterns on strong volume indicating institutional interest. While some major averages are still trading under their respective 50dma and 200dma's, the market appears to be rounding out its lows thus it is increasingly likely the market has found its floor.
A pair of pockets:
Network security infrastructure company Palo Alto Networks (PANW) - earnings and sales strong, institutional sponsorship increased since IPO over 8 quarters, group rank 72.
Semiconductor company Software Toolworks (SWKS) - accelerating earnings and sales, pretax margin 25.4%, group rank 12.
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