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AFTER MARKET UPDATE - MONDAY, MAY 9TH, 2016
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DOW |
-34.72 |
17,705.91 |
-0.20% |
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Volume |
941,797,650 |
-0% |
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Volume |
1,476,457,490 |
-14% |
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NASDAQ |
+14.05 |
4,750.21 |
+0.30% |
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Advancers |
1,406 |
47% |
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Advancers |
1,601 |
53% |
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S&P 500 |
+1.55 |
2,058.69 |
+0.08% |
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Decliners |
1,594 |
53% |
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Decliners |
1,394 |
47% |
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Russell 2000 |
+3.53 |
1,118.25 |
+0.32% |
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52 Wk Highs |
228 |
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52 Wk Highs |
52 |
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S&P 600 |
-0.06 |
687.87 |
-0.01% |
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52 Wk Lows |
22 |
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52 Wk Lows |
56 |
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Major Indices Had Another Mixed Session With Lighter Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks were mixed on Monday. The Dow slid 34 points to 17705. The S&P 500 gained 1 point to 2058 and the Nasdaq Composite added 14 points to 4750. The volume totals were reported lighter on the NYSE and on the Nasdaq exchange. Advancers trailed decliners by an 8-7 margin on the NYSE yet advancers led decliners by an 8-7 margin on the Nasdaq exchange. Leadership improved as there were 54 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, up from the total of 27 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE while new lows yet again outnumbered new highs on the Nasdaq exchange. PICTURED: The Nasdaq Composite Index has slumped below its 50-day and 200-day moving average (DMA) lines. It is -9.2% off its record high hit on July 20, 2015.
The market's confirmed uptrend (M criteria) has come under pressure recently while the DOW and S&P 500 Index are now consolidating just above their respective 50-day and 200-day moving average (DMA) lines. Sustained rallies require a healthy crop of leaders (stocks hitting new highs). Very few issues have appeared to meet the fact-based investment system's guidelines or make meaningful headway in recent weeks. The Featured Stocks Page includes 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 fluctuated throughout the day as gains in Health Care stocks were offset by weakness in the commodity patch. Overseas, Chinese shares sold-off after discouraging export data while Germany led an advance in European stocks. On the Fed front, Chicago President Charles Evans said that solid U.S. economic fundamentals should support a pick-up in growth this year to around 2.5%. Five out of ten sectors in the S&P 500 finished in positive territory on the session. Teva Pharmaceuticals (TEVA +5.05%) rallied to pace the gains in Health Care after besting analyst earnings predictions. Consumer Staples stocks also outperformed with Tyson Foods (TSN +1.47%) up after exceeding Wall Street estimates on the top and bottom line. Lending Club Corp (LC -34.9%) tumbled on news that the online marketplace’s CEO has resigned for a violation of company rules. Treasuries strengthened with the benchmark 10-year note adding 8/32 to yield 1.75%. In commodities, NYMEX WTI crude gave back early gains and fell 2.9% to $43.36/barrel. COMEX gold was down 2.2% to $1265.70/ounce. In FOREX, the dollar advanced against its peers with particular strength against the yen. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups Fell; Biotech and Retail Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.70%) had a positive influence on the major averages on Monday but the Bank Index ($BKX -0.55%) and the Broker/Dealer Index ($XBD -0.38%) both finished with small losses. The tech sector was led by the Biotechnology Index ($BTK +2.80%) while the Networking Index ($NWX +0.17%) and the Semiconductor Index ($SOX -0.15%) were mixed and little changed. Commodity-linked groups were weak as the Gold & Silver Index ($XAU -6.84%) and the Oil Services Index ($OSX -4.31%) outpaced the Integrated Oil Index ($XOI -1.60%) to the downside. Charts courtesy www.stockcharts.com
 PICTURED: The Oil Services Index ($OSX -4.31%) violated its 50-day and 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
161.67 |
-7.29 |
-4.31% |
+2.50% |
| Integrated Oil |
$XOI |
1,089.22 |
-17.70 |
-1.60% |
+1.54% |
| Semiconductor |
$SOX |
636.54 |
-0.96 |
-0.15% |
-4.06% |
| Networking |
$NWX |
345.91 |
+0.59 |
+0.17% |
-7.99% |
| Broker/Dealer |
$XBD |
155.79 |
-0.59 |
-0.38% |
-12.52% |
| Retail |
$RLX |
1,288.94 |
+9.06 |
+0.71% |
+0.43% |
| Gold & Silver |
$XAU |
82.48 |
-6.05 |
-6.83% |
+82.08% |
| Bank |
$BKX |
66.54 |
-0.37 |
-0.55% |
-8.95% |
| Biotech |
$BTK |
3,010.52 |
+82.09 |
+2.80% |
-21.07% |
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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,
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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