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AFTER MARKET UPDATE - THURSDAY, APRIL 28TH, 2016
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DOW |
-210.79 |
17,830.76 |
-1.17% |
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Volume |
1,002,297,130 |
+3% |
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Volume |
1,970,931,290 |
+12% |
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NASDAQ |
-57.85 |
4,805.29 |
-1.19% |
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Advancers |
1,037 |
35% |
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Advancers |
999 |
32% |
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S&P 500 |
-19.34 |
2,075.81 |
-0.92% |
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Decliners |
1,944 |
65% |
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Decliners |
2,089 |
68% |
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Russell 2000 |
-13.75 |
1,140.40 |
-1.19% |
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52 Wk Highs |
115 |
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52 Wk Highs |
75 |
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S&P 600 |
-9.88 |
698.39 |
-1.39% |
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52 Wk Lows |
10 |
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52 Wk Lows |
20 |
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Major Averages Endured Distributional Pressure
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished firmly lower on Thursday. The Dow was down 210 points to 17831. The S&P 500 lost 17 points to 2077. The Nasdaq Composite fell 57 points to 4805. The volume totals were reported higher on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by nearly a a 2-1 margin on the NYSE by more than a 2-1 margin on the Nasdaq exchange. There were 33 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, down from the total of 40 on the prior session. The new 52-week highs totals outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. PICTURED: The S&P 500 Index pulled back on higher volume. The benchmark index is still perched only -2.75% off its record high hit last May.
Sustained rallies require a healthy crop of leaders (stocks hitting new highs) so the recent expansion in new highs was a reassuring sign while the market is maintaining the previously noted confirmed uptrend (M criteria). The DOW and S&P 500 Index are making further progress above their respective 50-day and 200-day moving average (DMA) lines, meanwhile the tech-heavy Nasdaq Composite has pulled back to its 200 DMA line. 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 sold off late in the session amid disappointing economic news and weakness in the Tech sector. On the data front, U.S. GDP increased by 0.5% in the first quarter, below the projected 0.7% advance. International shares declined overnight after the Bank of Japan (BOJ) unexpectedly left monetary stimulus measures unchanged. Nine of the 10 sectors in the S&P 500 were lower on the session. Technology led the losses with Apple (AAPL -3.06%) fell on news that activist investor Carl Icahn sold his stake in the company. Apple’s retreat overshadowed Facebook (FB +7.20%) hit new highs as its revenue jumped more than 50% from the same period last year. Ford (F +3.15%) rose after the automaker posted record profits. On the M&A front, medical device maker St. Jude (STJ +25.57%) rallied after agreeing to a $25 billion takeover offer from Abbott Laboratories (ABT -7.78%). Treasuries moved higher along the curve with the benchmark 10-year note up 8/32 to yield 1.82%. In commodities, NYMEX WTI crude added 0.8% to $45.68/barrel. COMEX gold gained 1.6% to $1270.70/ounce. The BOJ announcement ramped up volatility in the currency market as the yen surged 3.1% against the dollar.. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver Index Posts Standout Gain Amid Widespread Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Financials created a drag on Thursday as the Bank Index ($BKX -1.25%) and the Broker/Dealer Index ($XBD -3.96%) both lost ground and the Retail Index ($RLX -1.61%) also finished lower. The tech sector suffered as the Networking Index ($NWX -1.20%), Semiconductor Index ($SOX -2.72%) and the Biotechnology Index ($BTK -0.92%) were unanimously lower. Commodity-linked groups were mixed as the Oil Services Index ($OSX -0.37%) and Integrated Oil Index ($XOI -1.67%) fell, yet the Gold & Silver Index ($XAU +4.15%) was a standout gainer. Charts courtesy www.stockcharts.com
 PICTURED: The Integrated Oil Index ($XOI -1.67%) recently has been rebounding above its 50-day and 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
178.69 |
-0.66 |
-0.37% |
+13.29% |
| Integrated Oil |
$XOI |
1,170.09 |
-19.85 |
-1.67% |
+9.08% |
| Semiconductor |
$SOX |
662.69 |
-18.57 |
-2.73% |
-0.12% |
| Networking |
$NWX |
357.94 |
-4.34 |
-1.20% |
-4.78% |
| Broker/Dealer |
$XBD |
163.61 |
-6.75 |
-3.96% |
-8.13% |
| Retail |
$RLX |
1,253.72 |
-20.50 |
-1.61% |
-2.32% |
| Gold & Silver |
$XAU |
86.90 |
+3.47 |
+4.16% |
+91.83% |
| Bank |
$BKX |
69.67 |
-0.88 |
-1.25% |
-4.67% |
| Biotech |
$BTK |
3,162.69 |
-29.43 |
-0.92% |
-17.08% |
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Seriously Applying the Fact-Based System Now
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,
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are the property of their respective owners, and are
likewise used for identification purposes only.
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