We've seen a reversal today, as the Dow opened much lower, bounded back into positive territory, and is in the red once again though not by much as the closing bell approaches. The S&P 500 Index (SPX) is also in negative territory currently. With about 30 minutes left in the regular trading day, there are 1,419 ascending stocks on the New York Stock Exchange, compared with 1,801 descending stocks. The resultant advance/decline ratio stands at 0.79 in late-afternoon action.

The Nasdaq Composite (COMP) is outperforming again today and is currently the only major index in positive territory. In terms of breadth, the Nasdaq is seeing 1,504 rising issues and 1,433 decliners, for an advance/decline ratio of 1.05. Despite this positive breadth, new lows are still trouncing new highs on the Nasdaq, 201 to 23. The NYSE has seen just 20 stocks hit new highs; 161 have hit new lows today.

Among the names appearing on today's new-high list are Cypress Semiconductor (CY), Alcan (AL), Apple (AAPL), and Plug Power (PLUG). Some of the many names hitting new lows today include Citigroup (C), Home Depot (HD), Merrill Lynch (MER), and Sepracor (SEPR).