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AFTER MARKET UPDATE - TUESDAY, FEBRUARY 2ND, 2016
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DOW |
-295.64 |
16,153.54 |
-1.80% |
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Volume |
1,038,631,230 |
+5% |
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Volume |
1,996,811,180 |
+8% |
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NASDAQ |
-103.42 |
4,516.95 |
-2.24% |
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Advancers |
603 |
20% |
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Advancers |
583 |
19% |
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S&P 500 |
-36.35 |
1,903.03 |
-1.87% |
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Decliners |
2,485 |
80% |
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Decliners |
2,433 |
81% |
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Russell 2000 |
-23.55 |
1,008.84 |
-2.28% |
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52 Wk Highs |
69 |
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52 Wk Highs |
22 |
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S&P 600 |
-12.67 |
615.17 |
-2.02% |
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52 Wk Lows |
125 |
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52 Wk Lows |
154 |
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Breadth Negative and Major Averages Fell With Higher Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks tumbled lower on Tuesday. The Dow was off 295 points to 16153. The S&P 500 fell 36 points to 1903. The NASDAQ lost 103 points at 4516. Volume totals were higher than the prior session totals on the NYSE and on the Nasdaq exchange, indicating an increase institutional selling pressure. Breadth was negative as decliners led advancers by a 4-1 margin on the NYSE and on the Nasdaq exchange. Leadership waned as only 12 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, down from 22 on the prior session. New 52-week lows swelled and outnumbered new highs on the NYSE and on the Nasdaq exchange. The Featured Stocks Page includes new noteworthy leaders only as the tone of the market dictates.Charts used courtesy of www.stockcharts.com
 PICTURED: The Nasdaq Composite Index recently halted its slide above prior lows. Few leaders have bullish patterns or have managed technical breakouts of late. Patience and strict discipline remain paramount. Leadership (defined as stocks hitting new highs) improved meaningfully on Friday, a reassuring sign after recent action from the major averages (M criteria) was labeled a new "confirmed uptrend" by the newspaper. The major averages retreated as the rout in crude oil prices continued. Exxon (XOM -2.23%) and BP (BP -8.45%) tumbled to headline the losses
after each company reported steep fourth quarter revenue declines. On the data
front, an Institute of Supply Management gauge of business conditions in the New
York region fell to 54.6 from 62.0 last month.
In earnings, Alphabet (GOOG +1.68%) rose after easily topping Wall
Street earnings and revenue estimates. Before paring early gains, the search
engine giant passed Apple (AAPL -2.02%) as the largest publicly traded company in the world.
Archer-Daniels-Midland (ADM -8.74%) fell after missing consensus revenue
projection. Dow Chemical (DOW +5.75%) rose and Michael Kors (KORS +23.91%) surged on better-than-expected fourth quarter profit.
Nine out of ten sectors in the S&P 500 declined on Tuesday. Energy stocks
brought up the rear followed by financials while utilities shares outperformed. Treasuries rebounded in a big way with the benchmark 10-year note jumping
26/32 to yield 1.86%. In commodities, NYMEX WTI is lost 5.3% to $29.94/barrel.
COMEX gold ticked up 0.1% to $1129.40/ounce. In FOREX, the dollar was weaker
against the yen and euro. The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech, Energy, Financial and Retail Indices Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Financial shares were weak as the Broker/Dealer Index ($XBD -3.29%) and the Bank Index ($BKX-3.24%) both posted big losses. The Retail Index ($RLX-1.78%) also had a negative influence on the major averages on Tuesday. The tech sector encountered more pressure as the Biotechnology Index ($BTK -4.31%), Networking Index ($NWX -3.53%), and the Semiconductor Index ($SOX -3.39%) ended unanimously lower. The Gold & Silver Index ($XAU -2.36%) slumped, and energy-linked groups were badly beaten again as the Oil Services Index ($OSX -4.95%) and the Integrated Oil Index ($XOI -3.51%) both sank.Charts courtesy www.stockcharts.com
PICTURED: The Broker/Dealer Index ($XBD -3.29%) fell and undercut prior low closes. Members were recently reminded - Weak action from financial shares hurts the broader market outlook because the major indices have been prone to their most severe downdrafts when financial stocks are weak. Financials have a history of being reliable "leading indicators".
| Oil Services |
$OSX |
136.90 |
-7.14 |
-4.96% |
-13.21% |
| Integrated Oil |
$XOI |
959.20 |
-34.92 |
-3.51% |
-10.58% |
| Semiconductor |
$SOX |
595.70 |
-20.90 |
-3.39% |
-10.22% |
| Networking |
$NWX |
324.64 |
-11.87 |
-3.53% |
-13.64% |
| Broker/Dealer |
$XBD |
145.79 |
-4.96 |
-3.29% |
-18.14% |
| Retail |
$RLX |
1,172.14 |
-21.24 |
-1.78% |
-8.67% |
| Gold & Silver |
$XAU |
46.25 |
-1.11 |
-2.34% |
+2.10% |
| Bank |
$BKX |
61.20 |
-2.05 |
-3.24% |
-16.26% |
| Biotech |
$BTK |
2,775.63 |
-124.98 |
-4.31% |
-27.22% |
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Get Back In on the Right Foot
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
To receive more details use the inquiry form to submit your request. Thank you! 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. Consider talking with an expert for personalized help in how your portfolio is managed in 2016 and beyond. Click here and indicate "Find a Broker" to get connected. *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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are the property of their respective owners, and are
likewise used for identification purposes only.
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