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AFTER MARKET UPDATE - WEDNESDAY, APRIL 6TH, 2016
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DOW |
+112.73 |
17,716.05 |
+0.64% |
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Volume |
844,761,360 |
-19% |
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Volume |
1,600,722,850 |
+3% |
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NASDAQ |
+76.79 |
4,920.72 |
+1.59% |
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Advancers |
2,287 |
76% |
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Advancers |
2,030 |
72% |
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S&P 500 |
+21.49 |
2,066.66 |
+1.05% |
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Decliners |
735 |
24% |
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Decliners |
788 |
28% |
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Russell 2000 |
+12.96 |
1,108.81 |
+1.18% |
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52 Wk Highs |
120 |
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52 Wk Highs |
35 |
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S&P 600 |
+5.70 |
678.31 |
+0.85% |
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52 Wk Lows |
11 |
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52 Wk Lows |
16 |
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Major Averages Rose With Slightly Better Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished higher on Wednesday. The Dow was up 113 points to 17716. The S&P 500 added 21 points at 2066. The NASDAQ climbed 77 points to 4920. The volume totals were reported mixed, lower on the NYSE and higher on the Nasdaq exchange. Breadth shifted to a positive tone as advancers led decliners by more than a 3-1 margin on the NYSE and 5-2 on the Nasdaq exchange. Leadership improved as there were 22 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, up from the total of 10 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.PICTURED: The S&P 500 Index is perched -3.2% off its record high of May 2015.
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 snapped a two-day retreat amid a rally in Energy and Health Care stocks. The release of the minutes from the Fed’s March FOMC meeting showed that some members of the committee favor an April interest rate hike while most urged caution in the face of financial uncertainty. Eight out of ten sectors in the S&P 500 advanced on the session. Chevron (CVX +2.34%) and other oil stocks caught a boost after a report showed that U.S. crude stockpiles unexpectedly declined by 4.9 million barrels last week. Health Care stocks outperformed with Pfizer (PFE +5.01%) rising on news that company is abandoning its takeover offer for Allergan (AGN +3.46%) following the Treasury's new rules discouraging corporate tax inversions. In earnings, Constellation Brands (STZ +5.93%) rose after exceeding profit estimates while Monsanto (MON +1.05%) ended higher despite missing analyst revenue expectations. Treasuries declined with the benchmark 10-year note losing 9/32 to yield 1.75%. In commodities, NYMEX WTI crude surged 5.2% to $37.77/barrel on the inventory news and speculation that producing nations may move forward with a production freeze without compliance from Iran. COMEX gold fell 0.5% to $1222.50/ounce.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech, Retail, Financial and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices were helped by the Retail Index ($RLX +1.00%) and strength in influential financials as the Broker/Dealer Index ($XBD +1.19%) and the Bank Index ($BKX +0.90%) also rose. The Biotechnology Index ($BTK +5.90%) led the tech sector and the Networking Index ($NWX +1.41%) and Semiconductor Index ($SOX +1.02%) both rose more than +1%. Commodity-linked groups were also positive as the Oil Services Index ($OSX +1.74%) and the Integrated Oil Index ($XOI +1.97%) both posted gains, and the Gold & Silver Index ($XAU +0.39%) edged higher.Charts courtesy www.stockcharts.com
PICTURED: The Semiconductor Index ($SOX +1.02%) is perched within striking distance of its prior highs. It impressively rebounded above its 50-day and 200-day moving average (DMA) lines from deep lows after starting the year below both of those moving averages and slumping badly.
| Oil Services |
$OSX |
153.77 |
+2.63 |
+1.74% |
-2.51% |
| Integrated Oil |
$XOI |
1,059.33 |
+20.52 |
+1.97% |
-1.25% |
| Semiconductor |
$SOX |
678.21 |
+6.88 |
+1.02% |
+2.22% |
| Networking |
$NWX |
361.42 |
+5.02 |
+1.41% |
-3.86% |
| Broker/Dealer |
$XBD |
159.00 |
+1.87 |
+1.19% |
-10.72% |
| Retail |
$RLX |
1,274.68 |
+12.59 |
+1.00% |
-0.68% |
| Gold & Silver |
$XAU |
69.88 |
+0.27 |
+0.39% |
+54.26% |
| Bank |
$BKX |
63.87 |
+0.57 |
+0.90% |
-12.60% |
| Biotech |
$BTK |
3,248.57 |
+180.87 |
+5.90% |
-14.82% |
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Endured Distributional Pressure During Recent Consolidation
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Sanfilippo John B & Son (JBSS +$0.20 or -0.29% to $69.97) is consolidating above its "max buy" level. It has endured distributional pressure in recent weeks, as indicated by the losses on higher volume highlighted below. Prior highs and its 50-day moving average (DMA) line ($65.97) define important near-term support to watch on pullbacks. It was last shown in this FSU section with an annotated graph on 3/15/16 under the headline, "Consolidating Above Near Term Support". On 2/22/16 gains backed by +48% above average volume triggered a technical buy signal. JBSS was highlighted at $62.25 with a pivot point cited based on its 11/02/15 high plus 10 cents in the 1/29/16 mid-day report (read here). A Special Dividend effective 11/30/15 impacted price history shown on some chart sources. It reported earnings +43% on +11% sales revenues for the Dec '15 quarter, its 4th consecutive earnings comparison (C criteria) above the +25% minimum guideline, and fundamentals remain strong. Its annual earnings (A criteria) history has been steady after a downturn in FY '11. The Food - Misc Preparation firm processes and markets various nuts. It has a Timeliness Rating of A and a Sponsorship Rating of C. Its small supply of only 8.3 million shares (S criteria) in the float may contribute to greater price volatility. The number of top-rated funds owning its shares rose from 200 in Dec '14 to 271 in Dec '15, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.5 is an unbiased indication its shares have been under accumulation over the past 50 days. Charts courtesy www.stockcharts.com
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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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