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AFTER MARKET UPDATE - WEDNESDAY, FEBRUARY 2ND, 2022
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DOW |
+224.09 |
35,629.33 |
+0.63% |
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Volume |
986,524,540 |
-2% |
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Volume |
4,578,789,400 |
+0% |
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NASDAQ |
+71.54 |
14,417.55 |
+0.50% |
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Advancers |
1,416 |
44% |
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Advancers |
1,540 |
34% |
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S&P 500 |
+42.84 |
4,589.38 |
+0.94% |
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Decliners |
1,827 |
56% |
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Decliners |
2,978 |
66% |
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Russell 2000 |
-21.22 |
2,029.52 |
-1.03% |
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52 Wk Highs |
76 |
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52 Wk Highs |
56 |
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S&P 600 |
-6.66 |
1,302.37 |
-0.51% |
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52 Wk Lows |
55 |
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52 Wk Lows |
114 |
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Disciplined investors will note Monday's follow-through day in the market (M criteria) confirmed a new uptrend. New buying efforts may be made in stocks fitting all key criteria of the fact-based investment system.
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Breadth Was Negative Yet Major Indices Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 advanced 0.9%, bringing its four-session increase to nearly 6%—its strongest such rally since November 2020. The Dow added 224 points, closing within 3.2% of its most recent January 4 record. The Nasdaq Composite rose 0.5%. Volume totals reported were lighter than the prior session on the NYSE and near the prior total on the Nasdaq exchange. Decliners led advancers by a 9-7 margin on the NYSE and nearly 2-1 on the Nasdaq exchange. There were 21 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 14 on the prior session. New 52-week highs outnumbered new lows on the NYSE but new lows still outnumbered new highs on the Nasdaq exchange. Solid gains noted on Monday for the Nasdaq Composite (+3.4%) and S&P 500 Index (+1.9%) with higher volume coupled with greater leadership marked a follow-through day confirming a new uptrend for the market averages (M criteria). PICTURED: The S&P 500 Index posted a 4th consecutive gain, rebounding from below its 200-day moving average (DMA) line and toward its 50 DMA line.
U.S. stocks finished higher on Wednesday as key corporate earnings reports outweighed a disappointing labor market update. Ten of 11 S&P 500 sectors finished in positive territory, with Communication Services pacing gains, helped by strong quarterly results from mega-cap Alphabet Inc (GOOGL +7.52%), Google's parent, hit a new all-time high after announcing a 20-for-1 stock split and dwarfing Wall Street profit estimates as its digital ad sales climbed. In other earnings, PayPal Holdings Inc. (PYPL -24.6%) gapped down after the payment service company missed consensus earnings forecasts and offered disappointing guidance. Chipmaker Advanced Micro Devices Inc. (AMD +5.12%) rose following a top and bottom line beat and better-than-expected full-year outlook. Consumer Discretionary shares lagged as quarterly results from General Motors Co. (GM -1.05%) and Starbucks Corp. (SBUX -1.04%) fell short of analyst estimates.
On the data front, a report from ADP showed private payrolls unexpectedly decreased by 301,000 in January, marking the first contraction since December 2020 as the Omicron COVID-19 variant impacted hiring. This precedes tomorrow’s weekly initial jobless claims figure and Friday’s monthly non-farm payrolls report. Treasuries strengthened, with the yield on the 10-year note down two basis points (0.02%) to 1.77%. In commodities, West Texas Intermediate crude settled 0.2% higher at $88.37/barrel after OPEC+ (the Organization of the Petroleum Exporting Countries and its allies) agreed to move forward with its planned output hike in March. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Semiconductor Index Led Group Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Financials were mixed and little changed as the Bank Index ($BKX +0.40%) edged higher and the Broker/Dealer Index ($XBD -0.24%) edged lower. The Retail Index ($RLX -0.09%) finished flat. The Semiconductor Index ($SOX +2.46%) led the tech sector while the Networking Index ($NWX +0.16%) inched higher, meanwhile the Biotech Index ($BTK -0.93%) lost ground. Energy-linked groups were mixed as the Oil Services Index ($OSX -1.09%) fell while the Integrated Oil Index ($XOI +0.61%) edged higher. The Gold & Silver Index ($XAU -0.17%) was little changed. PICTURED: The Semiconductor Index ($SOX +2.46%) posted a 4th consecutive gain, rebounding above its 200-day moving average (DMA) line.
| Oil Services |
$OSX |
66.30 |
-0.73 |
-1.09% |
+25.76% |
| Integrated Oil |
$XOI |
1,436.56 |
+8.73 |
+0.61% |
+21.93% |
| Semiconductor |
$SOX |
3,597.17 |
+86.31 |
+2.46% |
-8.84% |
| Networking |
$NWX |
871.56 |
+1.39 |
+0.16% |
-10.25% |
| Broker/Dealer |
$XBD |
488.97 |
-1.19 |
-0.24% |
+0.43% |
| Retail |
$RLX |
3,830.46 |
-3.60 |
-0.09% |
-9.37% |
| Gold & Silver |
$XAU |
126.24 |
-0.22 |
-0.17% |
-4.69% |
| Bank |
$BKX |
138.74 |
+0.55 |
+0.40% |
+4.93% |
| Biotech |
$BTK |
5,126.17 |
-47.96 |
-0.93% |
-7.11% |
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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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