Stocks ended a choppy session lower Thursday. The Dow was down 114 points to 17982. The S&P 500 lost 11 points to 2091. The Nasdaq Composite fell 2 points to 4946. The volume totals again were reported higher on the NYSE but lower on the Nasdaq exchange. Breadth was negative as decliners led advancers by 5-3 margin on the NYSE and by a narrower 7-6 margin on the Nasdaq exchange. Leadership contracted as there were 20 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, down from the total of 28 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.

Charts used courtesy of www.stockcharts.com

PICTURED: The S&P 400 Mid-Cap Index recently rebounded above its Nov-Dec highs. It is -5.5% off its record high hit last June.

The DOW, S&P 500 Index, and Nasdaq Composite rallied further above their respective 50-day and 200-day moving average (DMA) lines. A recent expansion in new highs was noted as a reassuring sign because any sustained rally requires a healthy crop of leaders (stocks hitting new highs). The Featured Stocks Page includes current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts.

The major averages finished firmly in negative territory amid disappointing corporate earnings results and a retreat in crude oil. European Central Bank President Draghi delivered a press conference affirming the interest rate policy will remain unchanged. The board enacted unprecedented stimulus measures in its previous meeting. On the domestic front, initial jobless claims unexpectedly fell 6,000 to 247,000, the lowest level since 1973. In a separate release, the leading indicators ticked up 0.2% in March, while the Philadelphia Fed reported a surprise drop in activity in the mid-Atlantic.

Nine of 10 sectors in the S&P 500 were down with Telecom and Utilities the worst performing groups. Verizon (VZ -3.32%) fell following its quarterly results. Duke Energy (DUK -2.38%) declined. Health Care was the lone sector up on the session. Shares of Endo International (ENDP +12.00%) surged on reports Blackstone (BX -4.11%) is considering a bid to acquire Concordia Healthcare (CXRX +25.05%). Viacom (VIAB +13.86%) advanced after saying it reached a programming deal with DISH Network (DISH +1.43%).

Treasuries extended their losing streak to a fourth day. Benchmark 10-year notes fell 6/32 to yield 1.87%. In commodities, NYMEX WTI crude dropped 1.4% to $43.57/barrel. COMEX gold slipped 0.3% to $1249.00/ounce.

Financials were mixed on Thursday as the Bank Index ($BKX -0.36%) edged lower and the Broker/Dealer Index ($XBD +1.34%) rose. The Retail Index ($RLX -0.51%) ended lower. Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +1.32%) and the Oil Services Index ($OSX +0.48%) posted gains but the Integrated Oil Index ($XOI -0.09%) finished flat. The Biotechnology Index ($BTK +2.54%) was a standout gainer while the Networking Index ($NWX -0.41%) and the Semiconductor Index ($SOX -0.67%) both ended the session slightly lower. 

Charts courtesy www.stockcharts.com

PICTURED: The Broker/Dealer Index ($XBD +1.34%) is nearly challenging its 200-day moving average (DMA) line. It made a sharp rebound in recent weeks following a pullback to the 50 DMA line where prompt support arrived in early April.

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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***

Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
JBSS - NASDAQ Sanfilippo John B & Son FOOD and BEVERAGE - Processed and Packaged Goods	$60.23	-2.24 -3.59%	$62.17	154,781 119.99% of 50 DAV 50 DAV is 129,000	$72.84 -17.31%	1/29/2016	$62.25	PP = $66.39
								MB = $69.71
Most Recent Note - 4/21/2016 5:33:01 PM Suffered another damaging loss today on above average volume. A convincing rebound above the 50 DMA line ($67.36) is needed for its outlook to improve. It will be dropped from the Featured Stocks list tonight. >>> FEATURED STOCK ARTICLE : Endured Distributional Pressure During Recent Consolidation - 4/6/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
MXL - NYSE Maxlinear Inc Cl A Telecom-Infrastructure	$17.22	+0.23 1.35%	$17.36	1,166,851 83.23% of 50 DAV 50 DAV is 1,402,000	$19.10 -9.84%	2/26/2016	$16.10	PP = $16.19
								MB = $17.00
Most Recent Note - 4/21/2016 5:34:34 PM Y - Color code is changed to yellow after rebounding above its 50 DMA line. Found prompt support following a considerable loss on 4/19/16 with 4 times average volume that raised concerns and triggered a technical sell signal. Members were reminded - "Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price. Only a prompt rebound above the 50 DMA line would, help its outlook improve." >>> FEATURED STOCK ARTICLE : Found Support Above 50 DMA Line Consolidating Near 52-week High - 4/1/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
NVEE - NASDAQ N V 5 Global Inc Comml Svcs-Consulting	$24.55	-2.08 -7.81%	$26.89	154,774 322.45% of 50 DAV 50 DAV is 48,000	$28.66 -14.35%	4/19/2016	$28.20	PP = $28.10
								MB = $29.51
Most Recent Note - 4/21/2016 5:37:02 PM Y - Suffered a 2nd consecutive big loss today on higher above average volume, raising concerns and slumping near its 50 DMA line ($23.78) and prior highs. Encountered damaging distributional pressure after reaching new 52-week and all-time highs on Tuesday. A convincing close above the pivot point in new all-time high territory may signal the beginning of a meaningful advance. See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : Met Resistance When Poised to Breakout From Longer Base Pattern - 4/20/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I