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AFTER MARKET UPDATE - THURSDAY, APRIL 7TH, 2016
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DOW |
-174.09 |
17,541.96 |
-0.98% |
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Volume |
913,922,110 |
+8% |
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Volume |
1,727,686,040 |
+8% |
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NASDAQ |
-72.35 |
4,848.37 |
-1.47% |
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Advancers |
684 |
23% |
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Advancers |
756 |
27% |
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S&P 500 |
-24.75 |
2,041.91 |
-1.20% |
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Decliners |
2,338 |
77% |
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Decliners |
2,075 |
73% |
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Russell 2000 |
-16.03 |
1,092.79 |
-1.45% |
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52 Wk Highs |
72 |
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52 Wk Highs |
26 |
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S&P 600 |
-9.59 |
668.72 |
-1.41% |
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52 Wk Lows |
14 |
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52 Wk Lows |
32 |
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Distributional Pressure Sends Nasdaq Composite Back Below 200-Day Average
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow was off 174 points to 17541. The S&P 500 lost 24 points at 2041. The NASDAQ fell 72 points to 4848. The volume totals were reported higher on the NYSE and on the Nasdaq exchange, a clear sign of distributional pressure. Breadth was negative as decliners led advancers by more than a 3-1 margin on the NYSE and nearly 3-1 on the Nasdaq exchange. Leadership contracted as there were 16 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, down from the total of 22 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, but new lows outnumbered new highs on the Nasdaq exchange.PICTURED: The Nasdaq Composite Index slumped back below its 200-day moving average (DMA) line with a loss on higher volume.
The DOW and S&P 500 Index both remain above their respective 50-day and 200-day moving average (DMA) lines. The major averages (M criteria) have recently encountered pressure. For any rally to be sustained it requires a healthy crop of leaders (stocks hitting new highs). 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. Stocks retreated on Thursday and the S&P 500 moved into negative territory for the year while the yen surged against the dollar as a perceived “risk-off” trade took hold in the markets. The CBOE Volatility Index (VIX) jumped 18% to 16.7 while Treasuries and gold rallied. In Fed news, current chair Janet Yellen will appear alongside former heads Ben Bernanke, Alan Greenspan and Paul Volcker on stage in New York after the close. On the data front, initial jobless claims came in at 267,000, less than the 270,000 predicted by analysts. All ten sectors in the S&P 500 finished lower on the session. Financial shares led the losses with Citigroup (C -3.80%) and Goldman Sachs (GS-3.08%) both falling. In earnings, Bed Bath & Beyond (BBBY +0.33%) inched higher after the company beat Wall Street profit expectations and announced a new quarterly dividend. CarMax (KMX -7.15%) fell despite exceeding expectations on the top and bottom line. Treasuries strengthened as the session wore on with the benchmark 10-year note adding 19/32 to yield 1.69%. In commodities, NYMEX WTI crude slid 0.8% to $37.44/barrel after sharp gains on Wednesday. COMEX gold rebounded 1.5% to $1241.10/ounce. In FOREX, the yen advanced 1.3% against the U.S. dollar. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver Index Posted Standout Gain Amid Widespread Weakness
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX -2.86%) and Broker/Dealer Index ($XBD -3.44%) both had a negative influence on the major averages while the Retail Index ($RLX -1.54%) also fell on Thursday. The Biotechnology Index ($BTK -2.26%) led the tech sector lower while the Semiconductor Index ($SOX -1.59%) and the Networking Index ($NWX -1.93%) also slumped. The Oil Services Index ($OSX -2.37%) fell and the Integrated Oil Index ($XOI -0.71%) edged lower, meanwhile, the Gold & Silver Index ($XAU +1.72%) was a standout gainer.Charts courtesy www.stockcharts.com
 PICTURED: The Retail Index ($RLX -1.54%) is consolidating after rebounding from below its 50-day and 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
150.12 |
-3.65 |
-2.37% |
-4.82% |
| Integrated Oil |
$XOI |
1,051.80 |
-7.53 |
-0.71% |
-1.95% |
| Semiconductor |
$SOX |
667.46 |
-10.75 |
-1.59% |
+0.60% |
| Networking |
$NWX |
354.46 |
-6.96 |
-1.93% |
-5.71% |
| Broker/Dealer |
$XBD |
153.54 |
-5.46 |
-3.44% |
-13.79% |
| Retail |
$RLX |
1,255.11 |
-19.57 |
-1.54% |
-2.21% |
| Gold & Silver |
$XAU |
71.09 |
+1.21 |
+1.73% |
+56.93% |
| Bank |
$BKX |
62.05 |
-1.82 |
-2.85% |
-15.09% |
| Biotech |
$BTK |
3,175.29 |
-73.28 |
-2.26% |
-16.75% |
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Seriously Applying the Fact-Based System Now
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,
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