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AFTER MARKET UPDATE - FRIDAY, APRIL 1ST, 2016
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DOW |
+107.66 |
17,792.75 |
+0.61% |
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Volume |
958,261,920 |
-2% |
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Volume |
1,656,795,940 |
+5% |
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NASDAQ |
+44.69 |
4,914.54 |
+0.92% |
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Advancers |
1,450 |
48% |
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Advancers |
1,616 |
57% |
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S&P 500 |
+13.04 |
2,072.78 |
+0.63% |
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Decliners |
1,578 |
52% |
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Decliners |
1,194 |
42% |
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Russell 2000 |
+3.66 |
1,117.68 |
+0.33% |
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52 Wk Highs |
171 |
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52 Wk Highs |
57 |
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S&P 600 |
+1.13 |
688.10 |
+0.16% |
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52 Wk Lows |
10 |
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52 Wk Lows |
22 |
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Indices Erased Early Losses to End Session Higher
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
For the week, the Dow gained 1.6%, the S&P 500 advanced 1.8%, and the Nasdaq was up 3%. Stocks finished higher on Friday. The Dow was up 107 points to 17792. The S&P 500 added 13 points at 2072. The NASDAQ climbed 44 points to 4914. The volume was reported lighter on the NYSE and higher on the Nasdaq exchange. Advancers led decliners by a 4-3 margin on the Nasdaq exchange but decliners narrowly outnumbered advancers on the NYSE. There were 55 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, up from the total of 37 on the prior session. New 52-week highs still solidly outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.PICTURED: The S&P 500 Index is rallying toward a downward trendline and approaching prior highs.
Further gains have helped the DOW, S&P 500 Index, and the Nasdaq Composite Index unanimously rally above their respective 50-day and 200-day moving average (DMA) lines. The recent improvement for the major averages (M criteria) was backed by an expansion in healthy leadership (new highs), another encouraging sign for 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. The major averages erased a morning retreat amid a flurry of positive updates on the economy. The U.S. labor market added 215,000 jobs in March, which was above the 205,000 projected by analysts. Average hourly earnings and the labor force participation rate also bested predictions. The unemployment rate, however, unexpectedly climbed back to 5%. Elsewhere on the data front, the Institute of Supply Management release on manufacturing came in at 51.8 in March, above projections of 51.0 and the 49.5 February reading. Eight out of ten sectors in the S&P 500 advanced on the session. Healthcare stocks outperformed while Energy shares lagged. Composite NYSE volume was more than 3.6 billion shares. In corporate news, Tesla (TSLA +3.40%) rose as the company announced strong demand for its forthcoming Model 3 sedan. Marriot (MAR -5.69%) fell as a rival group has dropped out of the bidding for Starwood (HOT -4.85%), likely indicating the proposed takeover will finalize. Treasuries were mostly lower along the curve. The benchmark 10-year lost 3/32 to yield 1.78%. In commodities, NYMEX WTI crude tumbled 4.2% to $36.74/barrel after a Saudi oil minister said the nation would not freeze production without Iran's involvement.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Financial and Tech Rose; Energy-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.89%), Bank Index ($BKX +0.73%) and the Broker/Dealer Index ($XBD +0.93%) all had a positive influence on the major averages on Friday. The tech sector was led by the Biotechnology Index ($BTK +2.66%) while the Semiconductor Index ($SOX +0.69%) posted a smaller gain, but the Networking Index ($NWX -0.38%) edged lower. Energy-linked shares were weak as the Oil Services Index ($OSX -3.47%) and the Integrated Oil Index ($XOI -1.32%) both fell. The Gold & Silver Index ($XAU +0.30%) eked out a small gain.Charts courtesy www.stockcharts.com
 PICTURED: The Oil Services Index ($OSX -3.47%) remains below its 200-day moving average (DMA) line.
| Oil Services |
$OSX |
153.46 |
-5.52 |
-3.47% |
-2.71% |
| Integrated Oil |
$XOI |
1,058.00 |
-14.21 |
-1.32% |
-1.37% |
| Semiconductor |
$SOX |
681.59 |
+4.70 |
+0.69% |
+2.73% |
| Networking |
$NWX |
366.07 |
-1.40 |
-0.38% |
-2.62% |
| Broker/Dealer |
$XBD |
163.85 |
+1.52 |
+0.93% |
-8.00% |
| Retail |
$RLX |
1,282.82 |
+11.35 |
+0.89% |
-0.05% |
| Gold & Silver |
$XAU |
69.72 |
+0.21 |
+0.30% |
+53.91% |
| Bank |
$BKX |
64.70 |
+0.47 |
+0.73% |
-11.47% |
| Biotech |
$BTK |
3,037.68 |
+78.68 |
+2.66% |
-20.35% |
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Found Support Above 50 DMA Line Consolidating Near 52-week High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Maxlinear Inc (MXL +$0.12 or +0.65% to $18.62) posted a small gain today on lighter than average volume. It found prompt support after nearly testing its 50-day moving average (DMA) line last week. It was last shown in the FSU section on 3/09/16 with an annotated graph under the headline, "Perched Near Best-Ever Close Following Recent Breakout", as it rebounded back above its "max buy" level. Disciplined investors avoid chasing extended stocks and always limit losses by selling any stock that falls more than -7% from their purchase price. MXL was first highlighted in yellow with pivot point cited based on its 1/13/16 high in the 2/26/16 mid-day report (read here). It ended up breaking out convincingly with a subsequent streak of gains on above average volume, clearing the previously noted a "double bottom" base and triggering a technical buy signal. The high-ranked Semiconductor firm saw sales revenues increases of +99%, +193%, and +205% for the Jun, Sep, and Dec '15 quarters, respectively, versus the year ago periods as earnings rose +62%, +900%, and +820%. The 3 strong quarterly comparisons above the +25% minimum guideline (C criteria) were noted in the 2/09/16 mid-day report - "Helping it better match the fact-based investment system's guidelines." Its small supply of only 51.8 million shares in the public float (S criteria) may contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 175 in Mar '15 to 277 in Dec '15, a very reassuring sign (I criteria). It currently has a Timeliness rating of A, and a Sponsorship Rating of C. Its Up/Down Volume Ratio of 1.6 indicates a clear sign of accumulation over the past 50 days. |
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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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