On Tuesday the Federal Reserve Board acknowledged that economic growth has been considerably slower than anticipated, and promised to keep interest rates at a record low at least until mid-2013.  Many noted that it was the first time we have seen any specific time-frame from the Fed concerning its rate policy.

With investor confidence fragile, fears about European debt took the spotlight, leading to a sharp sell-off that accelerated in the final hour. France's top credit rating was affirmed by the major credit agencies, but that was not enough to persuade the markets that the country might be next in line, after the United States, to lose the Triple-A designation. European banks took major hits, and major U.S. banks, including Citigroup Inc (C -10.5%), were punished as well. Bank of America Corp (BAC -10.9%) dove lower even though the chief executive said he is comfortable with the company's capital. The Walt Disney Co (DIS -9.1%) suffered its largest loss since 2009 after reporting that TV advertising sales declined in the last quarter.

Gold prices closed at a record high for a third straight day, and 4 gold-related companies from the Leaders List met the screening parameters to be noted in the Mid-Day Report, although shortcomings were noted in each. Oil closed up more than $3 per barrel following an unexpected decline in U.S. stockpiles. The 10-year Treasury note rose a full point to yield 2.08%. The 2.25% dividend yield of S&P 500 companies topped the yield of 10-year notes for the first time in two years.

The current market correction leaves disciplined investors in a defensive stance, looking toward protecting capital rather than adding more market exposure.  A new rally confirmed by a solid follow-through day (FTD) would be an important reassurance worth waiting for before new buying efforts may be justified. Disciplined investors will watch for a considerable higher-volume gain between Day 4 and Day 7 to provide a confirmation that institutional buying demand has returned in a meaningful way concerning the market environment (M criteria). The August 2011 issue of CANSLIM.net News will be published soon! Links to all prior reports are available on the Premium Member Homepage.

PICTURED: The Dow Jones Industrial Average finished below Monday's close on Wednesday's session, meanwhile the S&P 500 Index and Nasdaq Composite Index avoided doing the same. Provided that the Tuesday afternoon lows are not exceeded, that day can still be considered Day 1 of a nascent new rally attempt.

The Bank Index ($BKX -8.21%) and Broker/Dealer Index ($XBD -7.43%) dove to new 2011 lows, proving that the influential financial groups are lacking any backbone. The tech sector saw across the board losses from the Biotechnology Index ($BTK -5.27%), Networking Index ($NWX -5.19%), Internet Index ($IIX -4.11%), and Semiconductor Index ($SOX -2.06%). Energy-related stocks were also down hard as the Integrated Oil Index ($XOI -3.56%) and Oil Services Index ($OSX -3.47%) lost ground.  The Retail Index ($RLX -4.44%) and the Healthcare Index ($HMO -4.06%) had a negative bias too.

Charts courtesy www.stockcharts.com

PICTURED: The Gold & Silver Index ($XAU +2.15%) was a standout gainer as it rose above its 50-day moving average (DMA) line but remained under its longer-term 200 DMA line and below prior highs.

Marketaxess Holdings Inc (MKTX -$1.38 or -5.55% to $23.48) slumped under its 50-day moving average (DMA) line again today on lighter volume, and that short-term average may now act as resistance. Its color code was changed to green, and as previously noted, healthy stocks do not often dip -7% below their pivot point. No overhead supply was there to hinder its progress, but damaging distribution has been hurting its chances of making meaningful headway, meanwhile the M criteria has also been arguing against new buying efforts.

Its last appearance was in this FSU section on 7/29/11 with an annotated graph under the headline, "Potential Candidate in Tight Consolidation After Cup", and on 8/01/11 it posted a small gain after churning heavy volume and touching a new 52-week high, but didn't clear its pivot point. On 8/03/11 it posted a solid gain today for a new high with only +25% above average volume, below the volume threshold for a proper technical buy signal. Damaging distributional losses then followed and were noted. All prior notes can be reviewed on the Company Profile page under the "View All Notes" tab. The "Featured Articles and Daily Graphs" tab on the Company Profile page allows members to view all of the previous detailed analysis and annotated graphs published on any stocks we have covered.

MKTX has earned high ranks and reasonably satisfies the guidelines concerning quarterly and annual earnings (C and A criteria), however a downturn in FY '08 was previously noted as a flaw. Additionally, the Finance - Investment Bankers industry group currently has a Relative Strength rating of E which indicates the group has been a poor performer rather than a strong leader (L criteria).

The number of top-rated funds owning its shares rose from 195 in Dec '10 to 227 in Jun '11, a reassuring sign concerning the I criteria.  Fresh proof of heavy buying demand would be no guarantee it can mount a sustained rally for meaningful gains, but for now this high-ranked leader would need to first rebound above its 50 DMA line and stay there for its outlook to improve as an ideal candidate.

Color Codes Explained :
Y - Better candidates highlighted by our staff of experts.
G - Previously featured in past reports as yellow but may no longer be buyable under the guidelines.

***Last / Change / Volume data in this table is the closing quote data***

Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
EXLS - NASDAQ Exlservice Holdings Inc DIVERSIFIED SERVICES - Business/Management Services	$24.48	-1.27 -4.93%	$25.97	137,783 176.42% of 50 DAV 50 DAV is 78,100	$26.46 -7.48%	8/2/2011	$24.85	PP = $24.85
								MB = $26.09
Most Recent Note - 8/10/2011 7:32:48 PM Y - Damaging loss today with above average volume led to a close below its pivot point raising some concerns. Its 50 DMA line (now $23.22) defines important support to watch. >>> The latest Featured Stock Update with an annotated graph appeared on 8/2/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
FCFS - NASDAQ First Cash Financial Svs SPECIALTY RETAIL - Specialty Retail, Other	$42.38	+0.94 2.27%	$43.32	802,047 305.43% of 50 DAV 50 DAV is 262,600	$46.42 -8.70%	5/31/2011	$42.00	PP = $40.23
								MB = $42.24
Most Recent Note - 8/10/2011 7:34:37 PM G - Posted a second consecutive volume-driven gain today as it rallied back promptly above its 50 DMA line after 2 damaging losses. The prior chart lows near $37-38 define support to watch now above its 200 DMA line. >>> The latest Featured Stock Update with an annotated graph appeared on 8/9/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
JCOM - NASDAQ J 2 Global Communication INTERNET - Internet Software and Services	$27.95	-1.39 -4.74%	$28.95	499,567 160.53% of 50 DAV 50 DAV is 311,200	$31.72 -11.89%	8/8/2011	$30.38	PP = $29.31
								MB = $30.78
Most Recent Note - 8/10/2011 7:41:08 PM G - Slumped below its 50 and 200 DMA lines again today, raising concerns. Color code is changed to green. >>> The latest Featured Stock Update with an annotated graph appeared on 8/8/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
MA - NYSE Mastercard Inc Cl A DIVERSIFIED SERVICES - Business/Management Services	$303.71	-19.10 -5.92%	$321.20	2,981,770 217.20% of 50 DAV 50 DAV is 1,372,800	$340.42 -10.78%	8/3/2011	$324.82	PP = $322.38
								MB = $338.50
Most Recent Note - 8/10/2011 7:44:49 PM G - Considerable loss today with volume conviction hurt its outlook again as it slumped below its pivot point. Color code is changed to green after negating the powerful technical breakout. Wider than usual intra-day price swings indicate uncertainty, plus the M criteria remains a concern until a new confirmed rally is noted. >>> The latest Featured Stock Update with an annotated graph appeared on 8/3/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
MG - NYSE Mistras Group Inc DIVERSIFIED SERVICES - Bulding and Faci;ity Management Services	$17.69	+1.56 9.67%	$18.31	974,503 947.04% of 50 DAV 50 DAV is 102,900	$18.46 -4.17%	8/10/2011	$17.89	PP = $17.58
								MB = $18.46
Most Recent Note - 8/10/2011 7:47:38 PM Y - Finished the session above the pivot point cited in the mid-day report today as its color code was changed to yellow with new pivot point cited based on its 8/01/11 high plus 10 cents. Its considerable gain was driven by heavy volume, rallying from a base formed since the previously noted Public Offering on 5/05/11. It found support well above its 200 DMA line after it was dropped from the Featured Stocks list on 6/14/11. It faces very little resistance due to overhead supply up to its 52-week high. Its Accumulation/Distribution rating of E (see red circle) is a concern, however the number of top-rated funds owning its shares rose from 99 in Sep '10 to 147 in Jun '11, a reassuring sign concerning the I criteria. The M criteria still argues against new buying efforts, and disciplined investors know that. >>> The latest Featured Stock Update with an annotated graph appeared on 5/12/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
MKTX - NASDAQ Marketaxess Holdings Inc FINANCIAL SERVICES - Investment Brokerage - Nationa	$23.48	-1.38 -5.55%	$24.74	176,570 97.50% of 50 DAV 50 DAV is 181,100	$27.21 -13.71%	7/29/2011	$25.87	PP = $26.35
								MB = $27.67
Most Recent Note - 8/10/2011 7:48:41 PM G - Slumped under its 50 DMA line again today on lighter volume, and that short-term average may now act as resistance. Color code was changed to green, and as previously noted, healthy stocks do not often dip -7% below their pivot point. The M criteria also argues against new buying efforts for now. See the latest FSU analysis for more details and a new annotated graph. >>> The latest Featured Stock Update with an annotated graph appeared on 8/10/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
PCLN - NASDAQ Priceline.Com Inc INTERNET - Internet Software and Services	$498.80	-18.62 -3.60%	$512.95	2,170,105 194.07% of 50 DAV 50 DAV is 1,118,200	$561.88 -11.23%	7/29/2011	$539.46	PP = $552.15
								MB = $579.76
Most Recent Note - 8/10/2011 7:50:07 PM G - Down again today with above average volume, slumping under its 50 DMA line, raising concerns. The M criteria overrides all other promising criteria, since 3 out of 4 stocks follow the direction of the major averages. >>> The latest Featured Stock Update with an annotated graph appeared on 8/1/2011. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M