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AFTER MARKET UPDATE - WEDNESDAY, FEBRUARY 24TH, 2016
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DOW |
+53.21 |
16,484.99 |
+0.32% |
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Volume |
1,011,790,710 |
+11% |
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Volume |
1,799,315,470 |
+13% |
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NASDAQ |
+39.03 |
4,542.61 |
+0.87% |
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Advancers |
1,955 |
64% |
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Advancers |
1,817 |
62% |
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S&P 500 |
+8.53 |
1,929.80 |
+0.44% |
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Decliners |
1,084 |
36% |
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Decliners |
1,102 |
38% |
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Russell 2000 |
+9.93 |
1,022.08 |
+0.98% |
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52 Wk Highs |
45 |
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52 Wk Highs |
18 |
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S&P 600 |
+6.30 |
629.40 |
+1.01% |
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52 Wk Lows |
72 |
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52 Wk Lows |
98 |
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Major Averages Erased Early Losses to End Session Higher
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major averages staged a late rally and stocks finished higher on Wednesday. The Dow added 50 points to 16482. The S&P 500 was up 8 points to 1929. The NASDAQ gained 36 points at 4540. Volume was reported higher on the NYSE and lower on the Nasdaq exchange. Breadth was positive as advancers led decliners by nearly 2-1 on the NYSE and 3-2 on the Nasdaq exchange. However, there was less leadership as 15 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, down from a total of 19 on the prior session. The number of new 52-week lows also grew and outnumbered new 52-week 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.
PICTURED: The Nasdaq Composite Index managed a "positive reversal" for a gain on higher volume. It still faces near-term resistance at 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."Stocks improved along with crude while Treasuries sold-off. West Texas Intermediate crude rebounded from a 3% morning decline despite a report that showed U.S. oil stockpiles increased by 3.5 million barrels last week. Elsewhere on the data front, a preliminary gauge of Markit Services PMI for February came in at 49.8, representing the first contraction for the services sector in two years. New home sales fell by 9.2% in January, the steepest drop since 2010. Nine out of ten sectors in the S&P 500 finished higher on the session. Energy and Materials stocks paced the gains while Financials lagged. In earnings, Target (TGT +4%) rose after the company released better-than-expected forward guidance. Shares of Avis Budget Group (CAR -26.55%) tumbled as the company missed Wall Street earnings estimates and released disappointing full-year guidance. Treasuries retreated late in the session with the benchmark 10-year note slipping 6/32 to yield 1.74%. In commodities, NYMEX WTI crude gained 1.3% to $32.29/barrel. COMEX gold added 1.3% to $1238.70/ounce. In FOREX, the dollar was little changed as weakness against the yen offset gains against the British pound. The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail and Tech Groups Led Gains While Financials Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Wednesday the Retail Index ($RLX+0.96%) had a positive influence on the major averages while the Bank Index ($BKX -0.84%) and Broker/Dealer Index ($XBD -0.27%) both ended lower. The tech sector saw a solid gain from the Networking Index ($NWX +3.07%), and the Semiconductor Index ($SOX +1.40%) and Biotechnology Index ($BTK +0.56%) followed with smaller gains. The Oil Services Index ($OSX -0.32%) edged lower while the Integrated Oil Index ($XOI +1.13%) and the Gold & Silver Index ($XAU +0.81%) rose.Charts courtesy www.stockcharts.com
 PICTURED: The Semiconductor Index ($SOX +1.40%) met resistance after rebounding near prior highs and its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
139.59 |
-0.44 |
-0.31% |
-11.50% |
| Integrated Oil |
$XOI |
980.43 |
+10.97 |
+1.13% |
-8.60% |
| Semiconductor |
$SOX |
613.34 |
+8.47 |
+1.40% |
-7.56% |
| Networking |
$NWX |
351.26 |
+10.47 |
+3.07% |
-6.56% |
| Broker/Dealer |
$XBD |
144.17 |
-0.39 |
-0.27% |
-19.04% |
| Retail |
$RLX |
1,190.71 |
+11.28 |
+0.96% |
-7.23% |
| Gold & Silver |
$XAU |
62.89 |
+0.50 |
+0.80% |
+38.83% |
| Bank |
$BKX |
59.84 |
-0.51 |
-0.85% |
-18.12% |
| Biotech |
$BTK |
2,821.73 |
+15.65 |
+0.56% |
-26.02% |
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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
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. For help with how your portfolio is managed in 2016 and beyond click here and indicate "Find a Broker". *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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