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AFTER MARKET UPDATE - WEDNESDAY, JANUARY 20TH, 2016
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DOW |
-249.28 |
15,766.74 |
-1.56% |
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Volume |
1,424,740,180 |
+22% |
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Volume |
2,955,537,600 |
+36% |
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NASDAQ |
-5.26 |
4,471.69 |
-0.12% |
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Advancers |
886 |
28% |
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Advancers |
1,356 |
41% |
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S&P 500 |
-22.00 |
1,859.33 |
-1.17% |
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Decliners |
2,267 |
72% |
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Decliners |
1,931 |
59% |
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Russell 2000 |
+4.45 |
999.31 |
+0.45% |
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52 Wk Highs |
3 |
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52 Wk Highs |
5 |
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S&P 600 |
+2.08 |
603.67 |
+0.35% |
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52 Wk Lows |
1,394 |
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52 Wk Lows |
906 |
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Pressure Remains on Stocks as Small Cap Index Hits "Bear Market" Threshold
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Wednesday. The Dow was off 249 points to 15766. The S&P 500 ended down 22 points to 1859. The NASDAQ declined 5 points at 4471. Volume totals were higher than the prior session totals on the NYSE and on the Nasdaq exchange, a sign of more serious distributional pressure or selling coming from the institutional crowd. Breadth was negative as decliners led advancers by nearly a 3-1 margin on the NYSE and 3-2 on the Nasdaq exchange. New leadership remained elusive as there were only 3 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page. The Featured Stocks Page has been trimmed considerably as weakness weighed on prior leaders and the broader market. The number of new 52-week lows swelled and solidly outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The new lows total on the NYSE spiked to the highest since October 2008.Charts used courtesy of www.stockcharts.com
PICTURED: The S&P 600 Small Cap Index managed a "positive reversal" on Wednesday. It slumped below its August 2015 and October 2014 lows and intra-day was trading -21.6% off its record high hit in June 2015, passing the "Bear Market" threshold of -20%. The fact-based investment system always prompts investors to reduce exposure by selling faltering stocks in weak markets. New leadership (stocks hitting new highs) has become elusive as the major averages (M criteria) resumed their previously noted "correction" and distributional pressure from the institutional crowd brought widespread damage to stocks. This is a good time to keep a watchlist of the strongest stocks, meanwhile, preserving cash and reducing risk until a new confirmed rally is finally noted. The major averages staged a late-session rally to pare more than half their
losses in what was shaping up to be worst session for stocks since September.
Treasuries advanced as European stocks fell to the lowest levels in three months
while Japan’s Nikkei moved into bear market territory overnight.
On the data front, the Consumer Price Index dropped 0.1% in December.
Analysts were looking for the reading to be unchanged. Separate releases showed
that housing starts unexpectedly declined in December while building permits
fell slightly less than projected.
In earnings, IBM (IBM -4.9%) fell after loweringing forward guidance.
Netflix (NFLX -0.1%) sputtered despite reporting a 22% rise in revenue. Goldman
Sachs (GS -2.0%) after announcing a $5 billion settlement with the
Justice Department. Twitter (TWTR +4.1%) rebounded from new lows on speculation the company may
receive a takeover offer.
Nine sectors in the S&P 500 traded lower with energy and utilities
leading the losses. Healthcare was the lone sector to finish positive. Treasuries jumped with the benchmark 10-year note climbing 27/32 to yield
1.99%, the lowest finish since October. In commodities, NYMEX WTI crude
retreated another 6.7% to $26.55/barrel. COMEX gold added 1.1% to
$1100.60/ounce. The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver and Biotech Indexes Posted Standout Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -1.24%) and Bank Index ($BKX-1.78%) both suffered big losses and had a negative influence on the major averages while the Retail Index ($RLX-1.08%) also sank further on Wednesday. The Biotechnology Index ($BTK +2.65%) led the tech sector and the Semiconductor Index ($SOX +0.65%) edged higher, but the Networking Index ($NWX -1.13%) ended lower. The Oil Services Index ($OSX -2.22%) and the Integrated Oil Index ($XOI -2.71%) were big decliners again.Charts courtesy www.stockcharts.com
PICTURED: The Gold & Silver Index ($XAU +3.26%) was a standout gainer. Damaging losses undercut prior lows.
| Oil Services |
$OSX |
128.61 |
-2.93 |
-2.23% |
-18.46% |
| Integrated Oil |
$XOI |
900.52 |
-25.11 |
-2.71% |
-16.05% |
| Semiconductor |
$SOX |
578.94 |
+3.76 |
+0.65% |
-12.74% |
| Networking |
$NWX |
333.38 |
-3.82 |
-1.13% |
-11.32% |
| Broker/Dealer |
$XBD |
149.41 |
-1.87 |
-1.24% |
-16.10% |
| Retail |
$RLX |
1,148.41 |
-12.56 |
-1.08% |
-10.52% |
| Gold & Silver |
$XAU |
40.10 |
+1.26 |
+3.24% |
-11.48% |
| Bank |
$BKX |
62.11 |
-1.13 |
-1.79% |
-15.01% |
| Biotech |
$BTK |
3,200.16 |
+82.69 |
+2.65% |
-16.09% |
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Help Available For You in Making Fact-Based Buy/Sell Decisions With Greater Success
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
There are few stocks included on the Featured Stocks list now and none of the companies need additional review. At times like these we have an opportunity to look back. In the past we reviewed Ambarella (AMBA) on 9/03/15 and Skyworks (SWKS) on 9/17/15. Previously featured stocks which were dropped can serve as great educational examples of the investment system's tactics. Some are vivid reminders that all high-ranked leaders eventually fall out of favor. If you wish to request for a specific stock to receive more detailed coverage in this section please use the inquiry form to submit your request. Thank you! Professional Money Management Services - A Winning System - Inquire today!
Our skilled portfolio manager knows how to follow the rules of this fact-based investment system. We do not follow opinion or the "conviction list" of some large Wall Street institution which would have us fully invested even during horrific bear markets. Instead, we remain fluid and only buy the best stocks when they are triggering proper technical buy signals. If you are not completely satisfied with the way your portfolio is being managed, Click here and indicate "Find a Broker" to get connected with our portfolio managers. *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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