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AFTER MARKET UPDATE - WEDNESDAY, MARCH 9TH, 2016
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DOW |
+36.26 |
17,000.36 |
+0.21% |
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Volume |
932,442,580 |
-14% |
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Volume |
1,634,962,090 |
-9% |
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NASDAQ |
+25.56 |
4,674.38 |
+0.55% |
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Advancers |
2,110 |
70% |
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Advancers |
1,756 |
61% |
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S&P 500 |
+10.00 |
1,989.26 |
+0.51% |
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Decliners |
896 |
30% |
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Decliners |
1,141 |
39% |
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Russell 2000 |
+4.89 |
1,072.77 |
+0.46% |
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52 Wk Highs |
92 |
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52 Wk Highs |
21 |
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S&P 600 |
+3.51 |
660.18 |
+0.53% |
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52 Wk Lows |
6 |
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52 Wk Lows |
24 |
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Major Averages Rose With Lighter Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished mildly higher on Wednesday. The Dow was up 35 points to 17000. The S&P 500 added 10 points to 1989. The Nasdaq climbed 25 points at 4674. Volume was reported lighter on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by more than 2-1 on the NYSE and 3-2 on the Nasdaq exchange. There were 15 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, up from the total of 9 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, but again new lows outnumbered new highs on the Nasdaq exchange.PICTURED: The Dow Jones Industrial Average is consolidating above its 50-day moving average (DMA) line, but it remains trading below its 200 DMA line. The major averages rebounded from yesterday's decline along with crude oil and most of the commodities complex. European shares finished higher as well ahead of tomorrow's highly anticipated European central bank meeting. On the data front, wholesale inventories surprisingly jumped by 0.3% in January, exceeding analyst expectations of a 0.2% contraction. Nine out of ten sectors in the S&P 500 advanced on the session with Energy and Technology shares pacing the gains. Chevron (CVX +4.60%) and Valero Energy (VLO +3.96%) to lead Energy stocks. In earnings, apparel retailer Express (EXPR +3.26%) was higher after reporting significantly higher profit margins and raising forward guidance. Darden Restaurants (DRI +3.64%) rose after providing guidance that was above Wall Street estimates. Chipotle (CMG -3.44%) fell on reports of more health concerns at a store in Boston. Treasuries gave back most of their Tuesday advance. The benchmark U.S. ten-year note fell 16/32 to yield 1.88%. In commodities, NYMEX WTI crude spiked 4.6% to $38.18/barrel. COMEX gold slid 0.8% to $1252.90/ounce. In FOREX, the Dollar Index finished little changed with gains against the yen offset by weakness against commodity producing currencies. 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, Networking and Semiconductor Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Oil Services Index ($OSX +0.99%), Integrated Oil Index ($XOI +2.19%), and the Gold & Silver Index ($XAU +1.10%) posted unanimous gains. The tech sector was pressured by the Biotechnology Index ($BTK -0.90%), meanwhile the Semiconductor Index ($SOX +0.82%) and the Networking Index($NWX +1.26%) both posted gains. Financials were mixed on Wednesday as the Bank Index ($BKX -0.40%) fell and the Broker/Dealer Index ($XBD +0.28%) posted a small gain. The Retail Index ($RLX+0.15%) also inched higher.Charts courtesy www.stockcharts.com
 PICTURED: The Integrated Oil Index ($XOI +2.19%) recently rebounded above late 2015 lows after rallying above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
158.99 |
+1.56 |
+0.99% |
+0.80% |
| Integrated Oil |
$XOI |
1,055.19 |
+22.58 |
+2.19% |
-1.63% |
| Semiconductor |
$SOX |
643.27 |
+5.26 |
+0.82% |
-3.05% |
| Networking |
$NWX |
354.27 |
+4.40 |
+1.26% |
-5.76% |
| Broker/Dealer |
$XBD |
156.35 |
+0.43 |
+0.28% |
-12.21% |
| Retail |
$RLX |
1,216.03 |
+1.78 |
+0.15% |
-5.25% |
| Gold & Silver |
$XAU |
66.60 |
+0.72 |
+1.09% |
+47.02% |
| Bank |
$BKX |
63.35 |
-0.26 |
-0.41% |
-13.31% |
| Biotech |
$BTK |
2,872.35 |
-26.16 |
-0.90% |
-24.69% |
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Perched Near Best-Ever Close Following Recent Breakout
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Maxlinear Inc (MXL +$1.05 or +6.35% to $17.58) rebounded back above its "max buy" level with today's gain. Disciplined investors avoid chasing extended stocks and always limit losses by selling any stock that falls more than -7% from their purchase price. MXL was first highlighted in yellow with pivot point cited based on its 1/13/16 high in the 2/26/16 mid-day report (read here) and it was shown in that evening's report with an annotated graph under the headline, "Formed Double Bottom Base and Found Support". It ended up breaking out convincingly with a subsequent streak of gains on above average volume, clearing the previously noted a "double bottom" base and triggering a technical buy signal. Soon it also rallied through additional near-term resistance up through the $17.75 level, then encountered some distributional pressure on the prior session. Today's gain led to a close only 11 cents below its best-ever close of $17.69 on 12/01/15. Further gains into new high territory would be a very reassuring sign that could signal the beginning of a significant advance. The high-ranked Semiconductor firm saw sales revenues increases of +99%, +193%, and +205% for the Jun, Sep, and Dec '15 quarters, respectively, versus the year ago periods as earnings rose +62%, +900%, and +820%. The 3 strong quarterly comparisons above the +25% minimum guideline (C criteria) were noted in the 2/09/16 mid-day report - "Helping it better match the fact-based investment system's guidelines." The number of top-rated funds owning its shares rose from 175 in Mar '15 to 274 in Dec '15, a very reassuring sign (I criteria). It currently has a Timeliness rating of A, and a Sponsorship Rating of C. Its Up/Down Volume Ratio of 1.6 indicates a clear sign of accumulation over the past 50 days. |
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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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