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AFTER MARKET UPDATE - WEDNESDAY, JANUARY 27TH, 2016
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DOW |
-222.77 |
15,944.46 |
-1.38% |
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Volume |
1,091,694,000 |
+7% |
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Volume |
1,926,104,270 |
+7% |
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NASDAQ |
-99.50 |
4,468.17 |
-2.18% |
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Advancers |
1,153 |
38% |
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Advancers |
845 |
29% |
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S&P 500 |
-20.68 |
1,882.95 |
-1.09% |
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Decliners |
1,899 |
62% |
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Decliners |
2,094 |
71% |
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Russell 2000 |
-15.23 |
1,002.75 |
-1.50% |
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52 Wk Highs |
26 |
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52 Wk Highs |
9 |
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S&P 600 |
-8.90 |
608.86 |
-1.44% |
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52 Wk Lows |
49 |
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52 Wk Lows |
84 |
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Major Averages Reverse Gains and Show More Bearish Action
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks slid lower on Wednesday. The Dow lost 222 points to 15944. The S&P 500 fell 20 points to 1882. The NASDAQ was off 99 points to 4468. Volume totals were higher than the prior session totals on the NYSE and on the Nasdaq exchange, indicating an increase in institutional selling pressure. Breadth was negative as decliners led advancers by a 3-2 margin on the NYSE and by more than a 2-1 margin on the Nasdaq exchange. There were 7 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 4 on the prior session. New 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The Featured Stocks Page has been trimmed considerably as weakness weighed on prior leaders and the broader market.Charts used courtesy of www.stockcharts.com
PICTURED: The S&P 500 Index erased early gains above the prior session highs for a loss on higher volume while it undercut the prior session lows, making it a "bearish engulfing" session and a distribution day on Wednesday. The benchmark index recently undercut its August-September 2015 lows with volume-driven losses. Distributional pressure from the institutional crowd has been bringing widespread damage to stocks. The fact-based investment system always prompts investors to reduce exposure by selling faltering stocks in weak markets. New leadership (stocks hitting new highs) has been elusive as the major averages (M criteria) have struggled to halt their previously noted "correction". The major averages retreated after the Federal Reserve’s first policy meeting
in 2016 as soft corporate earnings outweighed a spike in oil prices. As
expected, the Fed left interest rates unchanged but did say that the central
bank is "closely monitoring” how global market events could affect the U.S.
economy.
On the data front, new home sales grew by 10.8% in January, well above the 2%
increase projected by analysts. In earnings, Apple (AAPL -6.6%) after
reporting the slowest growth for iPhone sales since the phone was introduced in
2007. Boeing (BA -8.9%) fell after a disappointing full-year 2016 forecast.
In healthcare, Biogen (BIIB +5.2%) after beating on both the top and
bottom line.
Eight out of ten sectors in the S&P 500 finished lower on Wednesday. Tech
and consumer discretionary stocks lead the losses while telecom and utilities
shares outperformed.
Treasuries were mixed after the Fed announcement with the curve steepening.
The 10-year note finished off 2/32 to yield 2.00%. In commodities, NYMEX WTI
added 1.5% to $31.82/barrel despite U.S. crude inventories climbing to the
highest level since 1930. COMEX gold gained 0.6% to $1126.40/ounce. The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech, Retail, and Broker/Dealer Index Slump
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX-1.88%) had a negative influence on the major averages on Wednesday. The tech sector encountered more pressure as the Biotechnology Index ($BTK -3.71%), Networking Index ($NWX -1.98%), and the Semiconductor Index ($SOX -1.20%) ended unanimously lower. The Gold & Silver Index ($XAU +2.75%) was a standout gainer. Energy-linked groups rose as the Oil Services Index ($OSX +1.78%) outpaced the Integrated Oil Index ($XOI +0.26%). Financial shares were mixed as the Broker/Dealer Index ($XBD -0.66%) edged lower and the Bank Index ($BKX-+0.58%) posted a small gain. Charts courtesy www.stockcharts.com
 PICTURED: The Broker/Dealer Index ($XBD -0.66%) has failed to rebound after undercutting prior lows. Members were recently reminded - Weak action from financial shares hurts the broader market outlook because the major indices have been prone to their most severe downdrafts when financial stocks are weak. Financials have a history of being reliable "leading indicators".
| Oil Services |
$OSX |
138.10 |
+2.42 |
+1.78% |
-12.45% |
| Integrated Oil |
$XOI |
957.84 |
+2.48 |
+0.26% |
-10.71% |
| Semiconductor |
$SOX |
588.68 |
-7.18 |
-1.20% |
-11.27% |
| Networking |
$NWX |
336.75 |
-6.81 |
-1.98% |
-10.42% |
| Broker/Dealer |
$XBD |
148.97 |
-0.98 |
-0.66% |
-16.35% |
| Retail |
$RLX |
1,165.47 |
-22.33 |
-1.88% |
-9.19% |
| Gold & Silver |
$XAU |
45.66 |
+1.22 |
+2.75% |
+0.79% |
| Bank |
$BKX |
61.77 |
+0.36 |
+0.59% |
-15.48% |
| Biotech |
$BTK |
3,000.57 |
-115.69 |
-3.71% |
-21.33% |
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Someone Ignored the Sell Rules? What Next?
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Have you been reminded that all high-ranked leaders eventually fall out of favor? Featured stocks which were dropped and later reviewed, like Ambarella (AMBA) on 9/03/15, and Skyworks (SWKS) on 9/17/15, serve as great educational examples of the investment system's tactics. If you wish to request for a specific stock to receive more detailed coverage in this section please use the inquiry form to submit your request. Thank you! Asset Management Services Using the Winning Fact-Based Investment System - Inquire Now!
You can have professional help in limiting your losses and maximizing your gains in all market environments. Consider talking with an expert for personalized help in how your portfolio is managed in 2016 and beyond. Click here and indicate "Find a Broker" to get connected. *Accounts over $250,000 please. **Serious inquires only, please. |
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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***
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THESE ARE NOT BUY RECOMMENDATIONS!
Comments contained in the body of this report are technical
opinions only. The material herein has been obtained
from sources believed to be reliable and accurate, however,
its accuracy and completeness cannot be guaranteed.
This site is not an investment advisor, hence it does
not endorse or recommend any securities or other investments.
Any recommendation contained in this report may not
be suitable for all investors and it is not to be deemed
an offer or solicitation on our part with respect to
the purchase or sale of any securities. All trademarks,
service marks and trade names appearing in this report
are the property of their respective owners, and are
likewise used for identification purposes only.
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