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AFTER MARKET UPDATE - WEDNESDAY, FEBRUARY 17TH, 2016
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DOW |
+257.42 |
16,453.83 |
+1.59% |
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Volume |
1,186,688,820 |
-2% |
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Volume |
2,109,986,770 |
+9% |
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NASDAQ |
+98.10 |
4,534.06 |
+2.21% |
|
Advancers |
2,576 |
83% |
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Advancers |
2,307 |
75% |
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S&P 500 |
+31.24 |
1,926.82 |
+1.65% |
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Decliners |
520 |
17% |
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Decliners |
774 |
25% |
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Russell 2000 |
+15.33 |
1,011.13 |
+1.54% |
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52 Wk Highs |
26 |
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52 Wk Highs |
18 |
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S&P 600 |
+7.15 |
618.92 |
+1.17% |
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52 Wk Lows |
21 |
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52 Wk Lows |
45 |
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Averages Rally for 3rd Straight Session But Leadership Remains Thin
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished firmly higher on Wednesday. The Dow was up 257 points to 16453. The S&P 500 gained 31 points to 1926. The Nasdaq Composite climbed 98 points to 4534. Volume was reported higher on the NYSE and on the Nasdaq exchange, a reassuring sign of buying coming from large institutional investors. Breadth was solidly positive as advancers led decliners by nearly a 5-1 margin on the NYSE and 3-1 on the Nasdaq exchange. There were 10 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, up from a total of 8 on the prior session. The total number of new 52-week highs outnumbered new 52-week lows on the NYSE, but new lows still outnumbered new highs on the Nasdaq exchange. The Featured Stocks Page includes new noteworthy leaders only as the tone of the market dictates.
PICTURED: The S&P 500 Index finished strong as it posted a 3rd consecutive gain, rallying after slumping near its prior lows. However, the market stalled after a rare third-day follow-through on 12/16/15, and there is less leadership today.
Improved action from the major averages (M criteria) has signaled a new follow through day and confirmed rally, an encouraging sign that a deeper correction and more serious "Bear Market" may be avoided. Members have been repeatedly reminded - "Any sustained rally requires a healthy crop of leaders (defined as stocks hitting new highs), however, few leaders have bullish chart patterns and the few isolated technical breakouts of late have been quickly negated." The major averages rose for a third-straight session as oil prices advanced
after Iran indicated support for a proposed production freeze. On the data
front, wholesale prices unexpectedly rose 0.1% in January. Excluding food and
energy, producer prices were up 0.4%. Industrial production increased 0.9% last
month. Another release revealed a surprise 3.8% decline in housing starts at the
beginning of the year. The minutes from the Fed’s January meeting showed policy
makers were concerned over the impact of falling commodity prices and global
markets on the U.S. economy.
The advance was led by energy companies including Chevron (CVX +4.13%). Kinder
Morgan (KMI +10%) rose after Warren Buffett’s Berkshire Hathaway (BRKB +1.32%) disclosed
a stake in the company. Tech and Consumer Discretionary also provided a tailwind
to the market. Microsoft (MSFT +2.6%) rose. Priceline (PCLN +11.24%) surged as the online travel agent’s quarterly earnings beat consensus
estimates.
Treasuries extended its losses to a third day. The 10-year note fell 9/32 to
yield 1.80% as gains in oil and equities tempered demand for perceived safety in
U.S. government debt. In commodities, NYMEX WTI crude rallied 5.3% to
$30.57/barrel. COMEX gold was essentially flat at $1207.80/ounce. The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy, Tech, Retail and Broker/Dealer Indexes Led Group Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Financials rebounded further and boosted the market on Wednesday as the Broker/Dealer Index ($XBD +2.58%) outpaced the Bank Index ($BKX+0.66%). The Retail Index ($RLX+2.41%) also had a positive influence on the major averages. The tech sector was saw solid gains from the Biotechnology Index ($BTK +2.82%), Semiconductor Index ($SOX +2.39%), and the Networking Index ($NWX +1.98%). Commodity-linked groups rose as the Oil Services Index ($OSX +4.41%) and the Integrated Oil Index ($XOI +3.53%) each posted a solid gain and Gold & Silver Index ($XAU +2.57%) also rose.Charts courtesy www.stockcharts.com
PICTURED: The Oil Services Index ($OSX +4.41%) posted a solid gain on Wednesday, rebounding from its lows toward resistance at prior highs and its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
142.58 |
+6.02 |
+4.41% |
-9.61% |
| Integrated Oil |
$XOI |
996.45 |
+33.98 |
+3.53% |
-7.11% |
| Semiconductor |
$SOX |
606.05 |
+14.12 |
+2.39% |
-8.66% |
| Networking |
$NWX |
333.28 |
+6.47 |
+1.98% |
-11.35% |
| Broker/Dealer |
$XBD |
147.31 |
+3.71 |
+2.58% |
-17.29% |
| Retail |
$RLX |
1,162.35 |
+27.34 |
+2.41% |
-9.44% |
| Gold & Silver |
$XAU |
58.71 |
+1.47 |
+2.57% |
+29.60% |
| Bank |
$BKX |
61.61 |
+0.40 |
+0.65% |
-15.70% |
| Biotech |
$BTK |
2,915.74 |
+80.05 |
+2.82% |
-23.55% |
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When You Get Back In Do It 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,
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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