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AFTER MARKET UPDATE - TUESDAY, FEBRUARY 23RD, 2016
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DOW |
-188.88 |
16,431.78 |
-1.14% |
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Volume |
913,984,430 |
-6% |
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Volume |
1,598,160,110 |
-1% |
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NASDAQ |
-67.03 |
4,503.58 |
-1.47% |
|
Advancers |
998 |
32% |
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Advancers |
872 |
29% |
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S&P 500 |
-24.23 |
1,921.27 |
-1.25% |
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Decliners |
2,077 |
68% |
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Decliners |
2,112 |
71% |
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Russell 2000 |
-9.59 |
1,012.15 |
-0.94% |
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52 Wk Highs |
39 |
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52 Wk Highs |
24 |
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S&P 600 |
-4.04 |
623.10 |
-0.64% |
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52 Wk Lows |
24 |
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52 Wk Lows |
56 |
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Major Averages Fell With Lighter Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished firmly lower on Tuesday. The Dow was off 189 points to 16431. The S&P 500 fell 24 points to 1921. The NASDAQ was down 67 points at 4503. Volume was reported lighter on the NYSE and lower on the Nasdaq exchange. Decliners led advancers by more than 2-1 on the NYSE and on the Nasdaq exchange. There were 19 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 26 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, but new lows outnumbered new highs on the Nasdaq exchange. The Featured Stocks Page includes new noteworthy leaders only as the tone of the market dictates.
PICTURED: The S&P 500 Index pulled back after it met resistance at its 50-day moving average (DMA) line and prior highs.
Improved action from the major averages (M criteria) last Wednesday signaled a new follow through day and confirmed rally, an encouraging sign that a deeper correction and more serious "Bear Market" may be avoided. Members have been repeatedly reminded -"Any sustained rally requires a healthy crop of leaders (defined as stocks hitting new highs), however, few leaders have bullish chart patterns and the few isolated technical breakouts of late have been quickly negated." The major averages halted their recent momentum as crude prices tumbled. International stocks sold off overnight after a surprise devaluation of the yuan by the Chinese government. On the domestic data front, home prices in 20 major U.S. cities increased by 5.7% in December, in-line with expectations. A gauge of consumer confidence fell to 92.2, well below consensus estimates of 97.2. Finally, existing home sales ticked up 0.4% versus projections of a 2.5% decline. In earnings, Home Depot (HD +1.37%) rose on better-than-expected fourth-quarter earnings. Fitbit (FIT -20.82%) fell after giving forward guidance well below Wall Street estimates. Frontier Communications (FTR +12.64%) rose after posting a surprise fourth-quarter profit. Nine out of ten sectors in the S&P 500 finished in negative territory on the session. Energy and Materials shares led the losses while Utilities stocks outperformed. Treasuries were mildly higher with the benchmark ten-year note adding 4/32 to yield 1.74%. In commodities, NYMEX WTI crude fell 4.3% to $31.98/barrel after a Saudi oil minister said the nation would not cut crude output. COMEX gold gained 1.1% to $1223.10/ounce. In FOREX, the dollar fell against the yen but climbed against the British pound and euro. The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy Group Led Broad Declines; XAU Posted Standout Gain
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Commodity-linked groups were mixed as the Gold & Silver Index ($XAU +1.50%) was a standout gainer, but the Oil Services Index ($OSX -4.65%) and the Integrated Oil Index ($XOI -3.91%) both ended solidly lower. Financials created a drag on the market as the Bank Index ($BKX-2.89%) outpaced the Broker/Dealer Index ($XBD -1.13%) to the downside. The Retail Index ($RLX-0.48%) had a slightly negative influence on the major averages. The tech sector saw unanimous losses from the Networking Index ($NWX -0.94%), Biotechnology Index ($BTK -2.30%) and Semiconductor Index ($SOX -1.65%). Charts courtesy www.stockcharts.com
PICTURED: The Integrated Oil Index ($XOI -3.91%) suffered a big loss, meeting resistance at prior highs and its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
140.03 |
-6.83 |
-4.65% |
-11.22% |
| Integrated Oil |
$XOI |
969.46 |
-39.50 |
-3.91% |
-9.62% |
| Semiconductor |
$SOX |
604.87 |
-10.13 |
-1.65% |
-8.83% |
| Networking |
$NWX |
340.79 |
-3.24 |
-0.94% |
-9.35% |
| Broker/Dealer |
$XBD |
144.57 |
-1.65 |
-1.13% |
-18.82% |
| Retail |
$RLX |
1,179.43 |
-5.73 |
-0.48% |
-8.11% |
| Gold & Silver |
$XAU |
62.39 |
+0.92 |
+1.50% |
+37.73% |
| Bank |
$BKX |
60.32 |
-1.80 |
-2.90% |
-17.46% |
| Biotech |
$BTK |
2,806.08 |
-66.14 |
-2.30% |
-26.43% |
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When You Get Back In Do It On The Right Foot
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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. For help with how your portfolio is managed in 2016 and beyond click here and indicate "Find a Broker". *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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