CANSLIM.net Help Lines
1-888-CAN-SLIM
954-785-1121

 

Get this daily commentary delivered straight to your email as soon as it is posted each day!
E-mail Address :
We never share your email. Read our privacy policy

CLICK HERE FOR DETAILS ABOUT
THE FREE CANSLIM.NET DAILY MARKET COMMENTARY


 MORNING MARKET COMMENTARY   - Friday, March 27, 2015  
Adam Sarhan Major Averages Recovered From Deeper Losses But Ended Lower
Kenneth J. Gruneisen, Founder and Contributing Writer, www.CANSLIM.net

Stocks finished little changed on Thursday after recovering from earlier lows that were much worse. The Dow fell 40 points to 17,678. The S&P 500 retreated 4 points to 2,056.  The volume totals were reported mixed, higher on the NYSE and lower on the Nasdaq exchange versus the prior session totals. Decliners led advancers by a 3-2 margin on the NYSE and more than 5-4 on the Nasdaq exchange.  Leadership has dried up, with only 4 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, down from the prior session total of 36 stocks, and down from 150 stocks on Friday, March 20th. The list of new 52-week highs matched new 52-week lows on the NYSE, and new lows outnumbered new highs on the Nasdaq exchange. There were gains for 10 of the 13 high-ranked companies currently on the Featured Stocks Page, showing a favorable bias, versus the broader market's more negative slant

Concerning the M criteria, the major averages' have endured distributional pressure while leadership has contracted, putting the rally under pressure. New buying efforts should only be made in stocks meeting all of the fundamental and technical guidelines the fact-based investment system.

 

PICTURED: The Nasdaq Composite Index declined 13 points to 4,863, sinking toward prior highs. It showed encouraging resilience after briefly undercutting its 50-day moving average (DMA) line, finishing above the midpoint of the session.

The major averages searched for direction amid Saudi Arabia's offensive in Yemen. Turning to economic data, in March a measure of sentiment in the services sector rose more than expected, but a gauge of manufacturing activity surprisingly tumbled. Last week, jobless claims fell more than projected, spurring speculation of expedited rate increases.

At the close, eight of the 10 S&P 500 sectors were lower as gains in technology offset weakness in industrials. Transportation stocks suffered from a rally in oil prices. American Airlines (AAL -1.43%). Utilities were off the most as Duke Energy (DUK -0.81%). Consumer discretionary was weighed down as negative analyst commentary pushed Macy's (M -2.26%) lower. Tech stocks snapped a losing streak. Positive earnings lifted Accenture (ACN +6.76%), and Apple (AAPL +0.70%) rose.

Treasuries fell amid a $29 billion auction of seven year notes. Weak auction demand helped the 10-year note lose 20/32 to yield 2.00%.

Commodities were mixed. WTI crude surged +4.2% to $51.27/bbl on the heels of the Saudi offensive in Yemen. COMEX gold gained +0.5% to $1,203.10/ounce. In FOREX, the dollar gained +0.3% as the euro fell -0.8% to $1.0886/EUR and the yen strengthened 0.2% to 119.21/USD.

The Featured Stocks Page shows recent notes and Headline Links directing members to detailed analysis with data-packed graphs annotated by a Certified expert.  See the Premium Member Homepage for archives to all prior pay reports published.

Modest gains from influential financial shares helped offset broader weakness on Thursday as the Bank Index ($BKX +0.28%) and the Broker/Dealer Index ($XBD +0.43%) both posted modest gains. Energy-related shares were mixed and little changed as the Oil Services Index ($OSX +0.18%) edged higher and the Integrated Oil Index ($XOI -0.15%) edged lower.  The Retail Index ($RLX -1.01%) fell and the Semiconductor Index ($SOX -1.39%) created a drag in the tech sector.  The Networking Index ($NWX +0.01%) finished flat and the Biotechnology Index ($BTK -0.28%) suffered a small loss.  The Gold & Silver Index ($XAU -1.58%) lost ground.

Charts courtesy www.stockcharts.com

PICTURED: The Biotechnology Index ($BTK -0.28%) suffered a 5th consecutive loss, testing its 50-day moving average (DMA) line which acted as support on prior consolidations.

Click Here to TELL-a-FRIEND about CANSLIM.net - if you know someone who might appreciate this report or find the features on our website useful.  As CANSLIM.net's subscriber base grows, we are able to offer more great resources to help you become a more successful investor.   We appreciate any feedback members may wish to send via the inquiry form here.
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. CANSLIM.net 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.

This report is a service available only to active CANSLIM.net StockNews Members. You may opt-out of receiving report notifications at any time.  Questions or comments may be submitted by writing to CANSLIM.net 665 S.E. 10 Street, Suite 201 - Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307 or 954-785-1121.

 

The recommendations made by CAN SLIM® Certified individuals are their own and may not be attributed to the CAN SLIM® Certification Program, William O'Neil + Co., Investor's Business Daily or their affiliates. The CAN SLIM® Certification indicates only that the individual has successfully completed the CAN SLIM® Certification Program. CAN SLIM®, William O'Neil + Co., Investor's Business Daily and any of their affiliates are in no way responsible for any loss or damage caused as a result of the services provided by these individuals.

Copyright © 1996-2015 Gruneisen Growth Corp. d/b/a www.canslim.net  All rights reserved. Protected by the copyright laws of the United States and Canada and by international treaties.  The names "CANSLIM" and "CAN SLIM®" are service marks and trade names of Investor's Business Daily, Inc., a California corporation, and are used by Gruneisen Growth Corp., a Florida corporation, under license. GGC is solely responsible for the operation of and opinions expressed in this Website. Daily Graphs® and Daily Graphs Online® are registered trademarks of William O'Neil + Co. Incorporated and are used with permission.

Privacy Policy | Terms of Use | Contact Us