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AFTER MARKET UPDATE - TUESDAY, MARCH 8TH, 2016
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DOW |
-109.85 |
16,964.10 |
-0.64% |
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Volume |
1,088,078,610 |
-2% |
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Volume |
1,804,868,620 |
-6% |
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NASDAQ |
-59.43 |
4,648.82 |
-1.26% |
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Advancers |
736 |
24% |
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Advancers |
637 |
22% |
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S&P 500 |
-22.50 |
1,979.26 |
-1.12% |
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Decliners |
2,311 |
76% |
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Decliners |
2,294 |
78% |
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Russell 2000 |
-26.27 |
1,067.88 |
-2.40% |
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52 Wk Highs |
77 |
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52 Wk Highs |
18 |
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S&P 600 |
-15.14 |
656.67 |
-2.25% |
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52 Wk Lows |
6 |
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52 Wk Lows |
22 |
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Major Averages Fell While There Was Less Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Tuesday. The Dow was off 109 points to 16964. The S&P 500 was down 22 points to 1979. The NASDAQ declined 59 points to 4648. Volume was reported lighter on the NYSE and on the Nasdaq exchange, a reassuring sign that institutions were not heavy sellers. Breadth was negative as decliners led advancers by more than 3-1 on the NYSE and on the Nasdaq exchange. Leadership also waned as there were 9 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, down from the total of 21 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, but new lows outnumbered new highs on the Nasdaq exchange. PICTURED: The Nasdaq Composite Index is consolidating after rebounding further above its 50-day moving average (DMA) line, but it remains trading well below its 200 DMA line. The S&P 500 snapped a five-session winning streak while Treasuries gained
amid renewed uncertainty out of China. A report showed the nation’s exports fell
to the lowest level since 2009. On the domestic data front, small business
optimism for February came in below consensus estimates.
Seven out of ten sectors in the S&P 500 finished in negative territory.
After a sharp rally on Monday, Energy stocks led the losses with Marathon Oil (MRO -8.25) and Schlumberger (SLB -4.54%) both falling. Materials shares
also faltered with Alcoa (AA -7.07%) slumping badly.
In earnings, Shake Shack (SHAK -11.84%) after putting forth
lower-than-expected same store sales forecasts. Urban Outfitters (URBN +16.09%) jumped after beating Wall Street profit predictions. JetBlue Airways (JBLU -9.09%) fell after lowering forward guidance citing a tougher industry capacity
landscape.
Treasuries rebounded with the benchmark U.S. ten-year note adding 22/32 to
yield 1.83%. In commodities, NYMEX WTI crude retreated 4.3% to $36.29/barrel
after surging 5.5% on Monday. COMEX gold slipped 0.1% to $1262.50/ounce. In
FOREX, the Dollar Index was little changed with weakness against the yen
offsetting strength against the emerging markets. The major averages (M criteria) have seen healthy leadership provide encouraging signs during the current confirmed rally. The DOW, S&P 500 Index, and the Nasdaq Composite rebounded further above their respective 50-day moving average lines last Friday. 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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Commodity-Linked Groups Led Widespread Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Tuesday commodity-linked groups led decliners as the Oil Services Index ($OSX -6.16%), Integrated Oil Index ($XOI -4.13%), and the Gold & Silver Index ($XAU -4.44%) suffered big losses. The Bank Index ($BKX -2.52%) and Broker/Dealer Index ($XBD -2.32%) both ended solidly lower and also had a negative influence on the major averages. The tech sector saw large losses from the Biotechnology Index ($BTK -3.75%), Networking Index ($NWX -2.11%), and the Semiconductor Index ($SOX -2.25%). Meanwhile, the Retail Index ($RLX-0.24%) was a relative outperformer as it edged lower.Charts courtesy www.stockcharts.com
PICTURED: The Networking Index ($NWX -2.11%) is consolidating after rebounding above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
157.43 |
-10.33 |
-6.16% |
-0.19% |
| Integrated Oil |
$XOI |
1,032.61 |
-44.45 |
-4.13% |
-3.74% |
| Semiconductor |
$SOX |
638.01 |
-14.67 |
-2.25% |
-3.84% |
| Networking |
$NWX |
349.87 |
-7.52 |
-2.11% |
-6.93% |
| Broker/Dealer |
$XBD |
155.92 |
-3.70 |
-2.32% |
-12.45% |
| Retail |
$RLX |
1,214.25 |
-2.98 |
-0.24% |
-5.39% |
| Gold & Silver |
$XAU |
65.88 |
-3.06 |
-4.44% |
+45.43% |
| Bank |
$BKX |
63.60 |
-1.64 |
-2.51% |
-12.97% |
| Biotech |
$BTK |
2,898.51 |
-112.82 |
-3.75% |
-24.00% |
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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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