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AFTER MARKET UPDATE - WEDNESDAY, MAY 4TH, 2016
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DOW |
-99.65 |
17,651.26 |
-0.56% |
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Volume |
992,039,440 |
+2% |
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Volume |
1,767,326,690 |
-3% |
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NASDAQ |
-37.58 |
4,725.64 |
-0.79% |
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Advancers |
1,196 |
40% |
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Advancers |
960 |
32% |
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S&P 500 |
-12.25 |
2,051.12 |
-0.59% |
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Decliners |
1,813 |
60% |
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Decliners |
2,076 |
68% |
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Russell 2000 |
-8.62 |
1,113.13 |
-0.77% |
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52 Wk Highs |
141 |
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52 Wk Highs |
37 |
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S&P 600 |
-3.77 |
686.32 |
-0.55% |
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52 Wk Lows |
27 |
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52 Wk Lows |
72 |
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Breadth Negative as Major Averages Face Widespread Pressure Again
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Wednesday. The Dow was down 99 points to 17651. The S&P 500 lost 10 points to 2052 and the Nasdaq Composite fell 37 points to 4725. The volume totals were reported mixed, higher on the NYSE and lower on the Nasdaq exchange. Decliners led advancers by a 3-2 margin on the NYSE and 2-1 on the Nasdaq exchange. There were 11 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, down from the total of 12 on the prior session. The new 52-week highs outnumbered new 52-week lows on the NYSE while new lows outnumbered new highs on the Nasdaq exchange. PICTURED: The Nasdaq Composite Index is slumping below its 50-day and 200-day moving average (DMA) lines.
The market's confirmed uptrend (M criteria) has come under pressure recently while the DOW and S&P 500 Index are now consolidating just above their respective 50-day and 200-day moving average (DMA) lines. Sustained rallies require a healthy crop of leaders (stocks hitting new highs), but leadership has again been waning. Very few issues have appeared to meet the fact-based investment system's guidelines or make meaningful headway in recent weeks. 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 declined for a second day as investors weighed a flurry of updates on the U.S. economy. ADP employment numbers showed that the labor market added 156,000 jobs in March, well below the expected 195,000. Service sector activity in April was revised to show a four-month high reading of 52.8 from the previously reported 52.1. In a separate release, durable goods orders rose 0.8% last month, in-line with expectations. Another report revealed factory orders increased 1.1%, besting projections. Seven of 10 sectors in the S&P 500 finished lower on the session. Industrials shares led the losses with American Airlines (AAL -3.96%) fell amid slower economic growth in Latin America. In Energy, Marathon Oil (MRO -4.85%) fell ahead of its scheduled release after the bell. Priceline (PCLN -7.50%) fell as profits fell short of Wall Street estimates and quarterly guidance disappointed. CBS (CBS +1.56%) rose after the network posted revenue above forecasts citing stronger ads growth. Treasuries moved higher along the curve with the benchmark 10-year note adding 7/32 to 1.77%. In commodities, NYMEX WTI crude gained 0.6% to $43.90/barrel. COMEX gold was down 0.8% to $1281.70/ounce. In FOREX, the dollar strengthened against the yen. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity, Financial, and Tech Indexes Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX -2.00%) and Broker/Dealer Index ($XBD -1.68%) had a negative influence on the major averages and the Retail Index ($RLX -0.56%) also fell. The tech sector was weak as the Biotechnology Index ($BTK -3.61%) outpaced the Semiconductor Index ($SOX -1.20%) and the Networking Index ($NWX -0.55%) to the downside. Commodity-linked groups also sank as the Gold & Silver Index ($XAU -4.54%), Oil Services Index ($OSX -2.51%) and the Integrated Oil Index ($XOI -1.89%) each lost ground. Charts courtesy www.stockcharts.com
 PICTURED: The Broker/Dealer Index ($XBD -1.68%) met resistance at its 200-day moving average (DMA) line and slumped below its 50 DMA line.
| Oil Services |
$OSX |
168.31 |
-4.33 |
-2.51% |
+6.71% |
| Integrated Oil |
$XOI |
1,105.97 |
-21.29 |
-1.89% |
+3.10% |
| Semiconductor |
$SOX |
634.90 |
-7.72 |
-1.20% |
-4.31% |
| Networking |
$NWX |
342.18 |
-1.90 |
-0.55% |
-8.98% |
| Broker/Dealer |
$XBD |
156.87 |
-2.68 |
-1.68% |
-11.91% |
| Retail |
$RLX |
1,286.58 |
-7.21 |
-0.56% |
+0.24% |
| Gold & Silver |
$XAU |
83.27 |
-3.96 |
-4.54% |
+83.82% |
| Bank |
$BKX |
66.92 |
-1.37 |
-2.01% |
-8.43% |
| Biotech |
$BTK |
2,930.54 |
-109.70 |
-3.61% |
-23.16% |
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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,
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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