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[TTHQ Staff]

SectorVue midday commentary
Thurs April 21st

Action is plus 510 and market breadth is positive although waning from this mornings gap up. Even with our market risk numbers as oversold as they are I was surprised the Dow opened up 100 points this morning. The Bears are crying 'foul' and the Bulls do not have enough up days in a row to jump in with all four hoofs.

It is clear the market has been in a down trend since January 1st. (always 20/20 hindsight) It is also clear we are getting oversold readings only seen once every 12 to 18 months. In addition there is plenty of day to day volatility which goes hand in hand with a change in market direction.

We have commented the formerly top sectors like Housing and Oil are having difficulty making new highs despite stellar earnings. Also new sectors like Pharmaceutical DRG have stepped up and we need the tech sectors - the NDX, to step up next. This week the NDX has outperformed the Dow and leaders like Intel closed positive after earnings even in the wake of the Dow being down 115 points.

The market even withstood Alan Greenspans comments this morning ( I need coffee). The preponderance of evidence supplemented by daily activity tells us the market is due for a significant bounce and the coming earnings will set the tone for the rest of the year with the possibility of the Dow clearing 11,000.

Currently the Wireless sector WMH is leading (MOT, NOK) China CZH is next (BYH, NTES) and Consumer CMR is up nicely with Buffets investment in Anheuser-Busch BUD which seems exquisitely timed as usuall. In fact Buffet provides us with the punch line for market activity this week -- Buy a beer (Co.)!

-ds 11:46 ET



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