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AFTER MARKET UPDATE - WEDNESDAY, MARCH 2ND, 2016
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DOW |
+34.24 |
16,899.32 |
+0.20% |
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Volume |
1,065,075,780 |
-3% |
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Volume |
1,753,637,690 |
-8% |
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NASDAQ |
+13.82 |
4,703.42 |
+0.29% |
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Advancers |
2,042 |
67% |
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Advancers |
1,969 |
66% |
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S&P 500 |
+8.10 |
1,986.45 |
+0.41% |
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Decliners |
1,002 |
33% |
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Decliners |
1,009 |
34% |
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Russell 2000 |
+11.18 |
1,065.67 |
+1.06% |
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52 Wk Highs |
54 |
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52 Wk Highs |
32 |
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S&P 600 |
+11.76 |
647.79 |
+1.85% |
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52 Wk Lows |
15 |
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52 Wk Lows |
33 |
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Major Averages Rose With Lighter Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished slightly higher on Wednesday. The Dow added 34 points to 16899. The S&P 500 gained 8 points to 1986. The Nasdaq Composite was up 13 points at 4703. Volume was reported lighter on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by 2-1 on the NYSE and by nearly 2-1 on the Nasdaq exchange. There were 20 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, up from the total of 18 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows still narrowly led new highs on the Nasdaq exchange. The DOW, S&P 500 Index, and the Nasdaq Composite rebounded further above their respective 50-day moving average lines on Wednesday. PICTURED: The S&P 500 Index rallied further above its 50-day moving average (DMA) line and prior highs, but it remains well below its 200 DMA line. The major averages rallied late with oil after international shares surged overnight. China’s Shanghai Composite and Japan’s Nikkei each jumped more than 4% on the session. On the data front, ADP reported private payrolls rose 214,000 in February, above the 190,000 consensus estimate. The Federal Reserve also released the Beige Book report, which showed that economic activity expanded in most districts. Eight out of ten sectors in the S&P 500 finished in positive territory. Energy and Telecom stocks paced the gains while Materials and Consumer Discretionary shares lagged. In earnings news, Brown-Forman (BFA -1.69%) fell as profits missed analyst estimates. Shares of Monsanto (MON -7.7%) fell after the seed producer reduced its full-year guidance. Retailer Costco (COST +1.5%) was higher ahead of its scheduled quarterly results after the close. Treasuries were mixed with the yield curve flattening. The 10-year note lost 4/32 to yield 1.84% while the long-dated 30-year bond climbed 10/32 to yield 2.68%. In commodities, NYMEX WTI crude added 1.4% to $34.87/barrel after today’s inventory report showed U.S. stockpiles climbed once again but production tailed off. COMEX gold climbed 0.9% to $1242.20/ounce The major averages (M criteria) have seen better leadership provide encouraging signs during the current confirmed rally. The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups Led Gainers; Financials and Techs Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Commodity-linked groups led the gainers as the Oil Services Index ($OSX +2.85%) and Integrated Oil Index ($XOI +2.55) rose, and the Gold & Silver Index ($XAU +3.90%) was a standout gainer. The Bank Index ($BKX +1.83%) and Broker/Dealer Index ($XBD +0.58%) both had a positive influence on the major averages on Wednesday, meanwhile the Retail Index ($RLX-0.07%) ended the session with a tiny loss. The tech sector was led by the Biotechnology Index ($BTK +1.17%) and Networking Index ($NWX +0.79%) while the Semiconductor Index ($SOX +0.53%) posted a smaller gain.Charts courtesy www.stockcharts.com
 PICTURED: The Oil Services Index ($OSX +2.85%) is rebounding above prior hihgs and its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
152.27 |
+4.22 |
+2.85% |
-3.46% |
| Integrated Oil |
$XOI |
1,030.55 |
+25.58 |
+2.55% |
-3.93% |
| Semiconductor |
$SOX |
643.31 |
+3.41 |
+0.53% |
-3.04% |
| Networking |
$NWX |
362.60 |
+2.84 |
+0.79% |
-3.55% |
| Broker/Dealer |
$XBD |
154.67 |
+0.90 |
+0.58% |
-13.15% |
| Retail |
$RLX |
1,223.64 |
-0.82 |
-0.07% |
-4.60% |
| Gold & Silver |
$XAU |
64.02 |
+2.41 |
+3.91% |
+41.32% |
| Bank |
$BKX |
64.17 |
+1.16 |
+1.83% |
-11.99% |
| Biotech |
$BTK |
2,991.01 |
+34.65 |
+1.17% |
-21.58% |
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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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