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AFTER MARKET UPDATE - MONDAY, FEBRUARY 29TH, 2016
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DOW |
-123.47 |
16,516.50 |
-0.74% |
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Volume |
1,266,624,610 |
+26% |
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Volume |
1,784,436,850 |
+7% |
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NASDAQ |
-32.52 |
4,557.95 |
-0.71% |
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Advancers |
1,600 |
52% |
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Advancers |
1,380 |
46% |
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S&P 500 |
-15.82 |
1,932.23 |
-0.81% |
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Decliners |
1,448 |
47% |
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Decliners |
1,636 |
54% |
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Russell 2000 |
-3.29 |
1,033.90 |
-0.32% |
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52 Wk Highs |
38 |
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52 Wk Highs |
33 |
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S&P 600 |
-1.39 |
636.03 |
-0.22% |
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52 Wk Lows |
23 |
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52 Wk Lows |
39 |
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Indices Erased Gains During Afternoon Slump
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
For the month, the Dow ticked up 0.3%, the S&P 500 slipped 0.4% and the Nasdaq fell 1.2%. Stocks retreated in afternoon trading on Monday. The Dow lost 123 points to 16516. The S&P 500 fell 15 points to 1932. The NASDAQ declined 32 points at 4557. Volume was reported higher on the NYSE and on the Nasdaq exchange. Breadth was mixed as advancers narrowly led decliners on the NYSE but decliners led advancers on the Nasdaq exchange. Leadership thinned as 18 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, versus the total of 33 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows still led new highs on the Nasdaq exchange. The DOW and S&P 500 Index both retreated below their respective 50-day moving average lines on Monday. PICTURED: The Nasdaq Composite Index fell with higher volume, and it is still trading below its 50-day moving average (DMA) line. The major averages ended February on a low note with the S&P and Nasdaq
100 dipping into negative territory for the month. On the data front, pending
home sales declined by 2.5% in January versus analyst expectations of a 0.5%
increase. The Chicago Purchasing Manager index for February came in at 47.6,
well below projections of 52.5.
Nine out of ten sectors in the S&P 500 finished lower. Healthcare and
Energy led the losses while Utilities outperformed. In corporate news, Consol Energy (CNX +10.08%) rose after announcing the
sale of $420 million in coal assets. Valeant Pharmaceuticals (VRX -18.41%) tumbled as the company rescheduled its earnings conference call that was slated
for this afternoon. Signet Jewelers (SIG +9.35%) rose after beating
earnings projections and increasing its quarterly dividend.
Treasuries rallied late to finish positive along the curve. The benchmark
ten-year note added 8/32 to yield 1.73%. Commodities gained after a fresh round
of stimulus from the Chinese government was announced. NYMEX WTI crude spiked
3.3% to $33.86/barrel while COMEX gold finished 1.7% higher at
$1240.50/ounce. The major averages (M criteria) have seen better leadership provide encouraging signs during the current confirmed rally. The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver Index Bucked Widespread Group Weakness
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX -2.31%) and Broker/Dealer Index ($XBD -1.31%) both had a negative influence on the major averages while the Retail Index ($RLX -0.90%) also fell on Monday. The Biotechnology Index ($BTK -1.94%) led the tech sector lower while the Semiconductor Index ($SOX -0.41%) suffered a smaller loss and the Networking Index ($NWX +0.08%) inched higher. The Oil Services Index ($OSX +0.54%) posted a modest gain but the Integrated Oil Index ($XOI -0.64%) edged lower. The Gold & Silver Index ($XAU +3.26%) was a standout gainer.Charts courtesy www.stockcharts.com
PICTURED: The Bank Index ($BKX -2.31%) fell on Monday, and it remains well below its 50-day moving average (DMA) line and prior lows.
| Oil Services |
$OSX |
144.40 |
+0.77 |
+0.54% |
-8.45% |
| Integrated Oil |
$XOI |
981.09 |
-6.27 |
-0.64% |
-8.54% |
| Semiconductor |
$SOX |
622.11 |
-2.54 |
-0.41% |
-6.24% |
| Networking |
$NWX |
352.55 |
+0.27 |
+0.08% |
-6.22% |
| Broker/Dealer |
$XBD |
148.22 |
-1.97 |
-1.31% |
-16.77% |
| Retail |
$RLX |
1,189.00 |
-10.82 |
-0.90% |
-7.36% |
| Gold & Silver |
$XAU |
63.92 |
+2.02 |
+3.26% |
+41.10% |
| Bank |
$BKX |
60.25 |
-1.42 |
-2.30% |
-17.56% |
| Biotech |
$BTK |
2,815.23 |
-55.62 |
-1.94% |
-26.19% |
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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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