Stock Market: price upturn on rising volume...

Stock Market: price upturn on rising volume indicates an
oversold bounce.

Short term, downside momentum appears to be broken.
The market already may have worked off considerable amount of the
high level of bullish sentiment registered earlier this month. Some
market indicators got oversold enough to support a bounce to the
upside.

Advisory Service Sentiment: there were 40.0% Bulls versus 23.3%
Bears as of 1/27/10, according to the weekly Investors Intelligence
survey of stock market newsletter advisors. The Bull/Bear ratio
collapsed to a neutral 1.72, down from 3.36 on 1/13/10, which was
the highest ratio of bullish sentiment in 6 years. The 20-year
range of the ratio is 0.41 to 3.74, the median is 1.50, and the
mean is 1.57.

Materials Stock Sector Relative Strength Ratio ) plunged below the
lows of the previous 12 weeks on 1/27/10, and absolute price of XLB
also fell below the lows of the previous 11 weeks on 1/27/10.