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Research >> MCBOSS CAPITAL >> Stock market news today 2022 >> The stock market continue with the inflation tolerant stocks - January 15, 2022
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The stock market continue with the inflation tolerant stocks - January 15, 2022

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What happen to the market today?

The stock market continue with the inflation tolerant stocks in the energy sector. 

Overall the market indices suffer small losses.  

Index Jan. 10-14
Nasdaq -0.28%
S&P 500 -0.30%
Dow Jones -0.88%
Russell 2000 -0.80%

With inflation data hitting multi-decade high such as the CPI, it pushes investors to continue buying dividend and inflation hedge stocks such as in the energy sector. See below for industry groups under accumulation.

What is the current support level?

Nasdaq bounce off its 200 days moving average for the second time. Look for support here.

S&P 500 also fell below its 50 days moving average and is trying to find support.

Dow Jones Industrial Average is trying to hold near its 50 days moving average.

Russell 2000 fell below its 10 and 21 days moving average. The technical characteristics have deteriorated.

  • NASDAQ - below its 50 days moving average line near 15600; current at 14893
  • S&P 500 - below its 50 days moving average line near 4660; current at 4662
  • DJIA - above its 50 days moving average line near 35800; current at 35911
  • RUSSELL 2000 - below its 50 days moving average line near 2280; current at 2162

Psychological levels

  • Nasdaq is now below 15000.
  • S&P 500 is now below 4700.
  • Dow Jones Industrial Average is now below 36000.
  • Small cap Russell 2000 is now below 2200.

Stock market breadth - Accumulation vs Distribution for this week:

#industry groups 54 vs 61
#stocks 250 vs 320

The stock market breadth continue to be overwhelmed by more selling than buying, but as shown below some sectors are under accumulation.

Which industry groups show strength?

Market show accumulation mostly in the energy sector.

Sector Industry Sub-group # Stocks
Technology Technology Semiconductors (Equip) 4 AMAT, KLAC, ONTO, VECO
Retail Consumer Services Television Services 3 DISCA, DISCK, NXST
Retail Consumer Non-Durables Farming/Seeds/Milling 2 MO, PM
Commodities Basic Industries Agricultural Chemicals 4 MOS, SMG, SQM, UAN
Commodities Energy Coal Mining 3 BTU, CNX, METC
Commodities Energy Oil & Gas Production (Canada) 2 CNQ, ERF
Commodities Energy Oilfield Services/Equipment 4 HAL, PUMP, RES, SLB
Commodities Energy Integrated oil Companies 11 AM, BP, CVX, EQT, MRO, PBR, PTR, RDS.A, SNP, WMB, XOM
Commodities Energy Oil & Gas Production (International) 5 APA, COP, HES, OVV, OXY
Commodities Energy Metal Fabrications 2 FTI, GEOS
Commodities Energy Integrated oil Companies 9 CEQP, CVI, GLP, HFC, MPC, NS, PBF, PSX, TRGP
Commodities Energy Natural Gas Distribution 7 EPD, FLNG, KMI, MPLX, PAA, SHLX, WES
Financial Finance Major Banks (West) 11 BANR, CFR, COLB, CVBF, EWBC, FFWM, FHB, IBTX, PB, WAFD, WAL
Financial Capital Goods Homebuilding 2 KBH, PHM


Which industry groups from recent strength show weakness this week?

Relative strength drops by 5%
Retail Consumer Non-Durables Packaged Foods 8 BGS, CAG, CPB, GIS, K, LW, POST, SJM
Relative strength drops by 3%
Retail Consumer Services Food Chains -4 CASY, IMKTA, MUSA, TA
Relative strength drops by 15%
Industrial Public Utilities Power Generation 6 CMS, CPK, DUK, GNE, NRG, WEC
Below 50 days moving average
Commodities Energy Oil & Gas Production (Royalty Trust) 3 PBT, SBR, SJT
Relative strength drops by 5%
Commodities Basic Industries Steel/Iron Ore 3 GGB, MT, TS
Relative strength drops by 3%
Financial Finance Major Banks (Midwest) 3 HDB, KB, SHG
Relative strength drops by 2%
Financial Finance Major Banks (Northeast) 5 CFG, CNOB, MTB, TBBK, WBS
Relative strength drops by 4%
Financial Finance Major Banks (Regional) 8 CMA, FITB, HBAN, KEY, NTRS, RF, TFC, USB
Relative strength drops by 1%
Financial Finance Investment Bankers/Brokers/Service 2 CS, SCHW
Relative strength drops by 5%
Financial Consumer Services Real Estate Investment Trusts 3 MPW, SLG, SRC
Relative strength drops by 1%
Financial Finance Major Banks (Savings) 3 ISBC, NWBI, PBCT




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