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AFTER MARKET UPDATE - WEDNESDAY, MAY 18TH, 2016
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DOW |
-3.36 |
17,526.62 |
-0.02% |
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Volume |
758,487,360 |
-26% |
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Volume |
1,778,091,450 |
+2% |
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NASDAQ |
+23.39 |
4,739.12 |
+0.50% |
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Advancers |
1,044 |
35% |
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Advancers |
1,839 |
60% |
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S&P 500 |
+0.42 |
2,047.63 |
+0.02% |
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Decliners |
1,977 |
65% |
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Decliners |
1,228 |
40% |
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Russell 2000 |
+5.28 |
1,102.95 |
+0.48% |
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52 Wk Highs |
81 |
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52 Wk Highs |
23 |
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S&P 600 |
+3.53 |
676.19 |
+0.52% |
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52 Wk Lows |
34 |
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52 Wk Lows |
56 |
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Indices Fail to Rebound Above 50-Day Moving Average Lines
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished mixed on Wednesday. The Dow was down 3 points to 17526. The S&P 500 ticked up less than a point to 2047 and the Nasdaq Composite added 23 points to 4739. The volume total was reported lighter on the NYSE and higher on the Nasdaq exchange. Decliners led advancers on the NYSE by 2-1 and on the Nasdaq exchange by 3-2. Leadership was increasingly elusive as there were 10 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, versus the total of 15 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE while new lows yet again outnumbered new highs on the Nasdaq exchange. PICTURED: The Dow Jones Industrial Average is slumping below its 50-day moving average (DMA) line on higher volume.
The market's confirmed uptrend (M criteria) has come under pressure in recent weeks. The Dow and S&P 500 both violated their 50-day moving average lines. Sustained rallies require a healthy crop of leaders (stocks hitting new highs), however leadership has recently waned. 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 moved lower while U.S. Treasuries sold off after the Fed released the minutes from its April FOMC meeting. The release showed that most Fed officials favor a June interest rate increase if economic conditions continue to improve. Rate expectations surged after the news with futures currently pricing in a 30% probability of a June rate hike according to Bloomberg data. As recently as Monday those odds were at 4%. Seven of 10 sectors in the S&P 500 finished lower in the session as Utilities, Materials and Telecom stocks lagged at least 1.5%. Financials caught a boost from the hawkish Fed commentary. Citigroup (C +4.97%) and Bank of America (BAC +4.85%) rose. In earnings, Target (TGT -7.62%) tumbled after missing analyst sales estimates. Lowe’s (LOW +3.33%) rose as the retailer topped profit expectations. Treasuries retreated along the curve. The yield on the benchmark 10-year note jumped 10 basis points, the most since December, to 1.87%. The yield on the two-year note, which is most sensitive to interest rates, climbed to 0.87%, the highest level since March. In commodities, NYMEX WTI crude dropped 1% to $47.85/barrel. In FOREX, the dollar jumped against the yen and euro. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial Groups Rose and Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +3.33%) and the Bank Index ($BKX +3.84%) both posted solid gains while the Retail Index ($RLX -0.37%) edged lower. The tech sector saw solid gains from the Biotechnology Index ($BTK +1.49%) and the Semiconductor Index ($SOX +1.64%) while the Networking Index ($NWX +0.73%) posted a smaller gain. Commodity-linked endured pressure as the Gold & Silver Index ($XAU -7.98%) and the Oil Services Index ($OSX -3.25%) fell and the Integrated Oil Index ($XOI -0.91%) suffered a smaller loss. Charts courtesy www.stockcharts.com
 PICTURED: The Retail Index ($RLX -0.37%) is sputtering below its 50-day moving average (DMA) lines.
| Oil Services |
$OSX |
157.98 |
-5.31 |
-3.25% |
+0.16% |
| Integrated Oil |
$XOI |
1,109.34 |
-10.18 |
-0.91% |
+3.42% |
| Semiconductor |
$SOX |
649.35 |
+10.46 |
+1.64% |
-2.13% |
| Networking |
$NWX |
346.58 |
+2.50 |
+0.73% |
-7.81% |
| Broker/Dealer |
$XBD |
160.45 |
+5.18 |
+3.33% |
-9.91% |
| Retail |
$RLX |
1,256.93 |
-4.73 |
-0.37% |
-2.07% |
| Gold & Silver |
$XAU |
83.68 |
-7.25 |
-7.97% |
+84.72% |
| Bank |
$BKX |
69.04 |
+2.55 |
+3.84% |
-5.53% |
| Biotech |
$BTK |
3,027.90 |
+44.41 |
+1.49% |
-20.61% |
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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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