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AFTER MARKET UPDATE - MONDAY, FEBRUARY 22ND, 2016
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DOW |
+228.67 |
16,620.66 |
+1.40% |
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Volume |
975,673,930 |
-14% |
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Volume |
1,618,838,540 |
-6% |
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NASDAQ |
+66.18 |
4,570.61 |
+1.47% |
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Advancers |
2,396 |
78% |
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Advancers |
2,132 |
72% |
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S&P 500 |
+27.72 |
1,945.50 |
+1.45% |
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Decliners |
672 |
22% |
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Decliners |
838 |
28% |
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Russell 2000 |
+11.73 |
1,021.74 |
+1.16% |
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52 Wk Highs |
54 |
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52 Wk Highs |
33 |
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S&P 600 |
+6.86 |
627.14 |
+1.11% |
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52 Wk Lows |
12 |
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52 Wk Lows |
33 |
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Major Averages Post Gains With Less Volume Conviction
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks rose on Monday’s session. The Dow was up 229 points to 16620. The S&P 500 gained 28 points to 1945. The Nasdaq Composite was 66 points higher at 4570. Volume was reported lighter on the NYSE and lower on the Nasdaq exchange, revealing less serious buying demand from the institutional crowd. Advancers led decliners by more than 3-1 on the NYSE and more than 2-1 on the Nasdaq exchange. There were 26 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, doubling the total of 13 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, meanwhile the highs/lows totals were even on the Nasdaq exchange. The Featured Stocks Page includes new noteworthy leaders only as the tone of the market dictates.
PICTURED: The Dow Jones Industrial Average rebounded to its 50-day moving average (DMA) line.
Improved action from the major averages (M criteria) last Wednesday 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 finished firmly in positive territory to extend last
week’s advance amid a rally in crude prices. Chevron (CVX +2.7%) and
ConocoPhillips (COP +4.8%) rose on speculation that announced production
curbs by Russia and Saudi Arabia may help reduce excess inventories. Industrials
and Materials also provided a tailwind to the market. United Technologies (UTX +4.7%) rose while Honeywell (HON -2%) fell after a report the two
companies recently held preliminary merger discussions. Aluminum maker Alcoa (AA +13.2%) rose in sympathy with higher metal prices.
On the data front, updates on manufacturing were mixed. The Chicago Fed
reported a surprise increase in Midwest business activity during January.
Markit’s preliminary February PMI reading was 51.0, below the consensus estimate
of 52.5 and down from 52.4 last month. In earnings news, Allergan (AGN +3.7%) rose after the Botox maker posted profits above projections. Tenet
Healthcare (THC +7.1%) rose ahead of its quarterly results after the
close.
Treasuries were lower on the session. Benchmark 10-year notes fell 2/32 to
yield 1.75%. In commodities, NYMEX WTI crude rallied 6.2% to $31.48/barrel.
COMEX gold declined 1.7% to $1209.50/ounce. The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy, Bank, Retail, and Tech Indices Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Monday the Bank Index ($BKX+2.14%) posted a solid gain while the Broker/Dealer Index ($XBD +0.17%) inched higher. The Retail Index ($RLX+1.97%) also had a positive influence on the major averages. The tech sector was saw solid gains from the Semiconductor Index ($SOX +1.58%) and the Networking Index ($NWX +1.61%) while the Biotechnology Index ($BTK +0.06%) finished flat. Commodity-linked groups rose as the Oil Services Index ($OSX +3.45%) and the Integrated Oil Index ($XOI +3.01%) each posted a solid gain and Gold & Silver Index ($XAU +1.55%) also rose.Charts courtesy www.stockcharts.com
PICTURED: The Networking Index ($NWX +1.61%) is rebounding above prior lows toward its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
146.86 |
+4.90 |
+3.45% |
-6.89% |
| Integrated Oil |
$XOI |
1,008.96 |
+29.45 |
+3.01% |
-5.94% |
| Semiconductor |
$SOX |
615.00 |
+9.54 |
+1.58% |
-7.31% |
| Networking |
$NWX |
344.04 |
+5.46 |
+1.61% |
-8.48% |
| Broker/Dealer |
$XBD |
146.21 |
+0.24 |
+0.17% |
-17.90% |
| Retail |
$RLX |
1,185.16 |
+22.95 |
+1.97% |
-7.66% |
| Gold & Silver |
$XAU |
61.47 |
+0.94 |
+1.55% |
+35.70% |
| Bank |
$BKX |
62.15 |
+1.30 |
+2.14% |
-14.96% |
| Biotech |
$BTK |
2,872.22 |
+1.85 |
+0.06% |
-24.69% |
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Volume-Driven Gain For New High Close
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Sanfilippo John B & Son (JBSS +$2.43 or +3.76% to $67.13) finished at a best-ever close with today's big gain backed by +48% above average volume triggering a technical buy signal. JBSS was highlighted in yellow with a pivot point cited based on its 11/02/15 high plus 10 cents in the 1/29/16 mid-day report (read here). A Special Dividend effective 11/30/15 impacted price history shown on some chart sources. It reported earnings +43% on +11% sales revenues for the Dec '15 quarter, its 4th consecutive earnings comparison (C criteria) above the +25% minimum guideline, and fundamentals remain strong. Its annual earnings (A criteria) history has been steady after a downturn in FY '11. It was last shown in this FSU section with an annotated graph on 1/29/16 under the headline, "Gap Up Gain Nearly Challenging Prior Highs". The Food - Misc Preparation firm processes and markets various nuts. It has a Timeliness Rating of A and a Sponsorship Rating of C. Its small supply of only 8.3 million shares (S criteria) in the float may contribute to greater price volatility. The number of top-rated funds owning its shares rose from 200 in Dec '14 to 261 in Sep '15, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.2 is an unbiased indication its shares have been under accumulation over the past 50 days. Charts courtesy www.stockcharts.com
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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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