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AFTER MARKET UPDATE - FRIDAY, MARCH 25TH, 2022
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DOW |
+153.30 |
34,861.24 |
+0.44% |
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Volume |
872,767,731 |
+4% |
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Volume |
5,507,756,200 |
+11% |
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NASDAQ |
-22.54 |
14,169.30 |
-0.16% |
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Advancers |
1,608 |
50% |
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Advancers |
1,977 |
42% |
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S&P 500 |
+22.90 |
4,543.06 |
+0.51% |
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Decliners |
1,583 |
50% |
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Decliners |
2,688 |
58% |
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Russell 2000 |
+2.54 |
2,077.98 |
+0.12% |
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52 Wk Highs |
169 |
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52 Wk Highs |
91 |
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S&P 600 |
+8.35 |
1,331.02 |
+0.63% |
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52 Wk Lows |
187 |
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52 Wk Lows |
168 |
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Leadership Improved as Major Indices Quietly Ended Mixed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 rose 0.5%, closing the week 1.8% higher and back within 5.3% of its January 3 record. The Nasdaq Composite dipped 0.2%, still logging a weekly advance of 2%. The Dow added 153 points, with the blue chip index turning slightly positive on the week (+0.3%). Volume totals reported were higher than the prior session on the NYSE and on the Nasdaq exchange, hinting at an increase in institutional buying efforts. Advancers led decliners by a very narrow margin on the NYSE, meanwhile decliners led advancers by a 5-4 margin on the Nasdaq exchange. Leadership improved as there were 61 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, up from the total of 37 on the prior session. New 52-week lows again outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The recently noted follow-through day confirmed a new uptrend (M criteria). Strict followers of the fact-based investment system only buy stocks fitting all key fundamental and technical investment criteria.
Chart courtesy of www.stockcharts.com PICTURED: The S&P 500 Index has wedged higher with gains backed by lighter volume totals while approaching February highs. The recent rebound above its 50-day and 200-day moving average (DMA) lines helped its technical stance and improved the outlook.
U.S. stocks finished mixed on Friday, though the major averages still posted a second straight weekly gain. Nine of 11 S&P 500 sectors closed in positive territory, with Energy outperforming, while Technology and Consumer Discretionary shares trailed. Oversold conditions, contrarian buy signals, and growing attention on stocks as a potential hedge against inflation were all cited as supportive of risk appetite.
Meanwhile, a historic bond market rout deepened. Portions of the U.S. Treasury yield curve inverted as shorter-dated yields climbed faster than longer-dated rates. The yield on the 10-year note briefly touched 2.50% before settling 34 basis points (0.34%) higher on the week at 2.48%. The more Fed-sensitive two-year note yield experienced a similar move, finishing the session at 2.28%. Recent hawkish commentary from a chorus of Fed leaders has spurred expectations for more aggressive rate hikes in the near-term.
On the data front, a final March reading from the University of Michigan confirmed consumer sentiment deteriorated to a fresh decade-low, while the report also revealed inflation expectations hit a 41-year high. Separately, pending home sales unexpectedly fell for a fourth consecutive month in February. In commodities, West Texas Intermediate crude capped a weekly gain of roughly 8%, ending at $113.04/barrel as reports of an attack on an oil facility in Saudi Arabia served to exacerbate supply concerns.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy Linked Groups and Bank Index Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Energy-linked groups were standout gainers on Friday as the Oil Services Index ($OSX +4.73%) and Integrated Oil Index ($XOI +2.12%) both rose. The Gold & Silver Index ($XAU +0.12%) was little changed. The Biotech Index ($BTK -1.06%) led the tech sector lower while the Semiconductor Index ($SOX -0.21%) and Networking Index ($NWX +0.20%) were little changed. The Bank Index ($BKX +1.53%) had a positive bias while the Broker/Dealer Index ($XBD -0.04%) and Retail Index ($RLX +0.05%) both finished nearly unchanged. PICTURED: The Networking Index ($NWX +0.20%) has rebounded above its 50-day and 200-day moving average (DMA) lines, quickly rallying from March lows that briefly undercut prior lows since October 2021.
| Oil Services |
$OSX |
82.57 |
+3.73 |
+4.73% |
+56.63% |
| Integrated Oil |
$XOI |
1,614.65 |
+33.52 |
+2.12% |
+37.04% |
| Semiconductor |
$SOX |
3,525.34 |
-7.38 |
-0.21% |
-10.66% |
| Networking |
$NWX |
894.48 |
+1.81 |
+0.20% |
-7.89% |
| Broker/Dealer |
$XBD |
480.62 |
-0.21 |
-0.04% |
-1.28% |
| Retail |
$RLX |
3,867.56 |
+1.78 |
+0.05% |
-8.49% |
| Gold & Silver |
$XAU |
160.79 |
+0.19 |
+0.12% |
+21.40% |
| Bank |
$BKX |
131.34 |
+1.98 |
+1.53% |
-0.67% |
| Biotech |
$BTK |
5,027.47 |
-53.77 |
-1.06% |
-8.90% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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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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