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Research >> MCBOSS CAPITAL >> Stock market news today 2022 >> The stock market closed strong this week despite first rate hike - March 18, 2022
Related: The stock market started the year with a selloff - January 7, 2022 The stock market continue with the inflation tolerant stocks - January 15, 2022 The stock market was decimated into correction territory - January 21, 2022 The stock market close the week off on a positive note - January 28, 2022 The stock market show recovery for the second consecutive week - February 4, 2022 The stock market gave back previous week's gains - February 11, 2022 The stock market conditions seem to be deteriorating - February 18, 2022 The stock market is trying to rebound after Russia invades Ukraine - February 25, 2022 The stock market may be looking to test the bottom soon - March 4, 2022 The stock market made a closing low this week - March 11, 2022 The stock market rise for the second consecutive week - March 25, 2022 The stock market took a breather this week - April 1, 2022 The stock market conditions deteriorated this week - April 8, 2022 The stock market conditions continue to deteriorate this week - April 15, 2022 Was the recent rally since March 14 bottom a bear market rally? - April 22, 2022 Nasdaq and Russell 2000 confirmed bear market rally - April 29, 2022 Is stock market showing signs of bottoming? - May 6, 2022 Stock market attempt rally after new lows - May 13, 2022 Stock market decimated rally and S&P 500 made new intraday bear market - May 20, 2022 Stock market is on the verge of relief rally - May 27, 2022 The market rally took a pause this week - June 3, 2022 Is this another bear market rally? - June 10, 2022 Bear market continues as stock market indices made new low - June 17, 2022 The stock market show signs of improvements - June 24, 2022 This has been a disappointing week for the stock market - July 1, 2022
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The stock market closed strong this week despite first rate hike - March 18, 2022

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What happen to the market this week?

Nasdaq starts the week by making a new low on Monday, and then it rebound 4 days to close the week with significant gains.

Index Mar. 14-18
Nasdaq 8.18%
S&P 500 6.16%
Dow Jones 5.50%
Russell 2000 5.38%

On Wednesday, the Federal Reserve announce the first rate hike this year of 25 basis points and also announce another 6 rate hikes this year. Despite that, the Fed also mentioned that recession risk is low and economy is strong. The stock market bounce higher to close that day strong. 

What happens to stock market since Russia invade Ukraine?


What is the current support level?

Nasdaq bounced from the lows to above its 10 and 21 days moving average. It closed at the 50 days moving average. It will be interesting to see if it can overcome this level. If it does, it will be very bullish signal.

S&P 500 and DJIA rebounded to above its 10, 21 and 50 days moving average. That is impressive. It is now sitting near its 200 days moving average.

Russell 2000 also rebound strongly to above its 10, 21 and 50 days moving average. 

  • NASDAQ - below its 50 days moving average line near 13880; current at 13893
  • S&P 500 - below its 50 days moving average line near 4430; current at 4463
  • DJIA - below its 50 days moving average line near 34500; current at 34754
  • RUSSELL 2000 - below its 50 days moving average line near 2040; current at 2086

Psychological levels

  • Nasdaq is now above13000.
  • S&P 500 is now above 4400.
  • Dow Jones Industrial Average is now above 34000.
  • Small cap Russell 2000 is now above 2000.

Stock market breadth - Accumulation vs Distribution for this week:

#industry groups 117 vs 7
#stocks 666 vs 45

The stock market is showing the highest level of accumulation since months ago.

Which industry groups show strength?

There are so much accumulation this week in many sectors and industry groups. This is truly a sign of the broad market rally.

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Special) 8 APP, CLVT, LSPD, MFGP, TEAM, TYL, YEXT, ZUO
Technology Technology Computer Software: Prepackaged Software (Database) 9 BOX, CFLT, CVLT, DBX, ESTC, MDB, ORCL, TDC, VRNS
Technology Technology Computer Software: Prepackaged Software (Design) 7 ADSK, ANSS, APPN, BSY, CDNS, SNPS, U
Technology Technology Computer Software: Prepackaged Software (Desktop) 1 PD
Technology Technology Computer Software: Prepackaged Software (Education/Media) 1 DUOL
Technology Technology Computer Software: Prepackaged Software (Enterprise) 27 AKAM, ATEN, BAND, BLKB, CDLX, CNXC, DOMO, EGHT, FIVN, FRSH, FSLY, GDDY, HCP, MNDY, NET, NTNX, PATH, PCOR, RNG, RXT, SNCR, SNOW, SPT, TWLO, WIX, ZI, ZM
Technology Technology Computer Software: Prepackaged Software (Financial) 4 ACIW, INTU, QTWO, SSNC
Technology Technology EDP Services (Gaming) 1 NTES
Technology Technology EDP Services (Medical) 4 AMWL, EVH, SLP, VEEV
Technology Technology Computer Software: Prepackaged Software (Security) 9 CRWD, KNBE, OKTA, PING, QLYS, RPD, S, SAIL, VRSN
Technology Technology Electronic Components 1 NTAP
Technology Technology Computer Manufacturing 1 HPQ
Technology Technology Computer Communications Equipment 4 ANET, DGII, EXTR, JNPR
Technology Technology EDP Services (Tech Services) 9 CTSH, DAVE, DXC, EPAM, GTLB, HCKT, HPE, INFY, UIS
Technology Technology Semiconductors 8 AMBA, AVGO, CEVA, MPWR, NVDA, RMBS, SITM, SMTC
Technology Technology Semiconductors (Equip) 12 ACLS, ASML, CCMP, COHR, ENTG, ICHR, KLAC, KLIC, LRCX, MKSI, NVMI, TER
Technology Technology Semiconductors (Manufacturing) 5 ADI, GFS, MCHP, POWI, UMC
Technology Technology Computer Software: Programming, Data Processing (Content) 12 ATHM, BIDU, BILI, BMBL, BZ, DOYU, HUYA, SFUN, TME, TWTR, WB, YY
Technology Consumer Services Television Services 2 CCOI, SJR
Technology Public Utilities Telecommunications Equipment (Foreign) 1 AMX
Technology Public Utilities Telecommunications Equipment (Integrated) 1 IDT
Technology Public Utilities Telecommunications Equipment (Wireless) 1 SHEN
Technology Technology Radio And Television Broadcasting And Communications Equipment 2 RFIL, SATS
Technology Technology Radio And Television Broadcasting And Communications Equipment 2 MSI, SONM
Technology Consumer Durables Telecommunications Equipment 1 VIAV
Technology Technology Radio And Television Broadcasting And Communications Equipment 2 COMM, GOGO
Retail Consumer Services Clothing/Shoe/Accessory Stores 9 FIGS, GIII, LEVI, OXM, PVH, TPR, UA, VFC, VRA
Retail Consumer Non-Durables Shoe Manufacturing 3 DECK, NKE, WWW
Retail Capital Goods Auto Manufacturing 4 KNDI, LI, NIO, TTM
Retail Capital Goods Auto Parts:O.E.M. (Equipment) 5 CPS, DAN, MGA, QS, WKHS
Retail Capital Goods Auto Parts:O.E.M. (Parts) 2 DORM, SMP
Retail Consumer Durables Automotive Aftermarket 1 TWI
Retail Consumer Non-Durables Beverages Alcoholic (Production/Distribution) 1 BUD
Retail Consumer Non-Durables Beverages Non-Alcoholic (Production/Distribution) 3 CCEP, CELH, FMX
Retail Consumer Non-Durables Consumer Electronics/Appliances 4 GRMN, HEAR, KOSS, UEIC
Retail Consumer Services Other Consumer Services 5 EDU, FC, LAUR, LOPE, TAL
Retail Consumer Non-Durables Package Goods/Cosmetics 2 EWCZ, IFF
Retail Capital Goods Industrial Machinery/Components 1 SYNA
Retail Consumer Non-Durables Packaged Foods (Dairy) 1 LWAY
Retail Consumer Non-Durables Meat/Poultry/Fish 2 CALM, IBA
Retail Consumer Durables Office Equipment/Supplies/Services 4 BSET, FLXS, HNI, SCS
Retail Consumer Non-Durables Plastic Products 2 COOK, VIOT
Retail Consumer Services Hotels/Resorts (Gaming) 3 IGT, MGM, SGMS
Retail Consumer Services Hotels/Resorts (Lodging) 1 WH
Retail Consumer Services Consumer Electronics/Video Chains 3 DLPN, FUBO, RDI
Retail Consumer Non-Durables Recreational Products/Toys, Motor Vehicles 4 DOOO, ESCA, FOXF, JOUT
Retail Consumer Services Marine Transportation 8 CAR, CUK, DIDI, EDR, MTN, NCLH, WMG, XPOF
Retail Miscellaneous Business Services 3 EXPE, SABR, VCSA
Retail Consumer Services Books 1 PSO
Retail Consumer Services Television Services 2 TV, WWE
Retail Consumer Services Newspapers/Magazines 2 NWS, NWSA
Retail Consumer Services Automotive Aftermarket (Parts) 5 AZO, CPRT, GPC, LKQ, ORLY
Retail Consumer Durables Automotive Aftermarket 5 CARS, CVNA, GPI, KMX, RUSHA
Retail Consumer Services RETAIL: Building Materials 4 BECN, FAST, GMS, LOW
Retail Consumer Non-Durables Consumer Specialties 2 BRLT, SIG
Retail Consumer Services Clothing/Shoe/Accessory Stores 8 BKE, CAL, CTRN, DLTH, GES, LE, ONON, SCVL
Retail Consumer Services Department/Specialty Retail Stores 4 BIG, BJ, DG, GO
Retail Consumer Services Other Specialty Stores 4 AAN, HVT, LOVE, WSM
Retail Miscellaneous Business Services (Internet) 8 DASH, JD, JMIA, PDD, REAL, SSTK, TDUP, VIPS
Retail Consumer Services Other Specialty Stores (Leisure) 3 ASO, HIBB, LESL
Retail Consumer Services Department/Specialty Retail Stores 1 PSMT
Retail Consumer Services Restaurants 13 ARCO, BJRI, CBRL, DRI, MCD, NATH, NDLS, QSR, RRGB, SBUX, SG, WEN, YUM
Retail Consumer Services Other Specialty Stores 2 ULTA, WRBY
Retail Consumer Services Food Chains 2 MUSA, TA
Retail Basic Industries Package Goods/Cosmetics 1 ECL
Retail Consumer Non-Durables Farming/Seeds/Milling 1 VGR
Retail Transportation Air Freight/Delivery Services 10 AAL, ALGT, ALK, CPA, DAL, GOL, JBLU, LUV, SKYW, UAL
Retail Technology Retail: Computer Software & Peripheral Equipment 1 SNX
Industrial Capital Goods Military/Government/Technical 6 ASTR, HXL, JOBY, OSIS, TDG, TXT
Industrial Consumer Durables Consumer Electronics/Appliances 3 AAON, CARR, WSO
Industrial Basic Industries Mining & Quarrying of Nonmetallic Minerals (No Fuels) 2 CRH, SUM
Industrial Consumer Durables Building Products 11 APOG, AWI, AYI, BLDR, CNM, FBHS, FRTA, MAS, MWA, SPB, WMS
Industrial Capital Goods Tools/Hardware 1 SNA
Industrial Capital Goods Engineering & Construction 2 GVA, MTZ
Industrial Finance Diversified Commercial Services 3 EME, IBP, MYRG
Industrial Industrial Consumer Non-Durables 1 CVCO
Industrial Basic Industries Major Chemicals 3 CE, HUN, WLK
Industrial Basic Industries Paints/Coatings 1 PPG
Industrial Basic Industries Major Chemicals: Plastics 4 ASIX, AVNT, DOW, TG
Industrial Basic Industries Major Chemicals: Others 11 APD, ASH, BCPC, CC, FF, LIN, LTHM, SOI, TROX, UNVR, VVV
Industrial Technology Advertising 4 IPG, LAMR, OMC, TTGT
Industrial Miscellaneous Business Services 2 ICFI, STN
Industrial Technology Diversified Commercial Services 3 TRTN, UHAL, WSC
Industrial Miscellaneous Business Services (Market Research) 3 CSGP, FDS, NLSN
Industrial Miscellaneous Business Services (Outsourcing) 7 ADP, EXLS, HQY, NSP, TNET, TTEC, UNF
Industrial Technology Professional Services 7 ASGN, CCRN, KELYA, KFRC, KFY, TBI, ZIP
Industrial Consumer Durables Containers/Packaging 3 BERY, BLL, GEF
Industrial Technology Industrial Machinery/Components 5 BRK.B, CHE, CSL, HON, JCI
Industrial Technology Electrical Products 3 JBL, KE, SANM
Industrial Capital Goods Electrical Products 4 CGNX, IPGP, ITRI, NOVT
Industrial Consumer Durables Metal Fabrications 6 ABB, ENS, EVGO, FELE, VLTA, VRT
Industrial Miscellaneous Industrial Machinery/Components 6 APH, ARW, AVT, LASR, VSH, WCC
Industrial Consumer Services Other Consumer Services 1 SCI
Industrial Capital Goods Fluid Controls 6 BMI, CFX, ERII, ESE, IR, PNR
Industrial Energy Industrial Machinery/Components 2 DM, HOLI
Industrial Capital Goods Industrial Machinery/Components (Tools) 1 XYL
Industrial Basic Industries Metal Fabrications 2 RYI, ZEUS
Industrial Basic Industries Aluminum 4 MLI, RS, VMI, WOR
Industrial Consumer Services Office Equipment/Supplies/Services 3 AVY, BRC, DLX
Industrial Basic Industries Paper 5 IP, NP, PKG, VRTV, WRK
Industrial Basic Industries Environmental Services 5 CECE, CLH, DCI, GFL, WCN
Industrial Consumer Services Diversified Commercial Services 3 ITRN, REZI, RGR
Industrial Transportation Air Freight/Delivery Services 2 AAWW, UPS
Industrial Capital Goods Wholesale Distributors 1 TRN
Industrial Transportation Trucking Freight/Courier Services 1 XPO
Industrial Consumer Services Marine Transportation 4 CMRE, DAC, MATX, ZIM
Industrial Transportation Trucking Freight/Courier Services 3 HTLD, JBHT, KNX
Industrial Capital Goods Auto Manufacturing 2 CMI, OSK
Industrial Public Utilities Oil/Gas Transmission 1 SWX
Health Finance Specialty Insurers 1 HCSG
Health Health Care Major Pharmaceuticals 40 ACET, ALKS, ALVR, APLS, ARWR, ATRA, BGNE, BLI, BLUE, BNTX, CHRS, CRSP, DCPH, DVAX, EBS, EDIT, ESPR, FMTX, GMAB, HALO, HRMY, ICPT, INO, MRNA, NGM, NTLA, OCGN, QURE, RARE, REGN, RETA, RIGL, SAGE, SGMO, SRNE, STRO, TGTX, TRVN, TSVT, VYGR
Health Health Care Major Pharmaceuticals (Diversified) 3 DHR, JNJ, LLY
Health Health Care Major Pharmaceuticals (Ethical Drugs) 2 BMY, PFE
Health Health Care Major Pharmaceuticals (Generic Drugs) 1 RDY
Health Health Care Hospital/Nursing Management 1 SEM
Health Health Care Medical Specialities 5 AMEH, ANTM, CI, CNC, ONEM
Health Health Care Medical/Nursing Services 4 ACHC, FMS, LHCG, MD
Health Health Care Medical/Dental Instruments 8 CDNA, CNMD, DXCM, ICUI, LIVN, MDT, NVCR, SMLR
Health Health Care Biotechnology: Commercial Physical & Biological Research 5 AVTR, DNAY, FLGT, ICLR, SYNH
Health Health Care Medical Specialities (Services) 2 DGX, IRTC
Health Health Care Medical Specialities (Supplies) 1 WST
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus 5 CUTR, FONR, MASI, OMCL, WAT
Health Health Care Other Pharmaceuticals 4 ABC, CAH, MCK, PETQ
Commodities Consumer Services Farming/Seeds/Milling 2 APPH, CTVA
Commodities Basic Industries Agricultural Chemicals 2 AVD, FMC
Commodities Energy Industrial Machinery/Components 5 CWEN, IEA, KEN, ORA, ORGN
Commodities Energy Coal Mining 1 CNX
Commodities Technology Semiconductors (Solar) 1 SHLS
Commodities Capital Goods Construction/Ag Equipment/Trucks 1 TEX
Commodities Capital Goods Industrial Machinery/Components 3 AGCO, DE, LNN
Commodities Basic Industries Precious Metals 1 FCX
Commodities Energy Oilfield Services/Equipment 1 MTRX
Commodities Energy Oil & Gas Production (Royalty Trust) 1 TPL
Commodities Energy Natural Gas Distribution 1 GLNG
Commodities Basic Industries Steel/Iron Ore 1 STLD
Financial Finance Commercial Banks 3 BAP, CM, SHG
Financial Finance Major Banks (Midwest) 1 HBNC
Financial Finance Major Banks 6 BCS, DB, MS, SAN, SMFG, UBS
Financial Finance Major Banks (Northeast) 2 EGBN, LBAI
Financial Finance Major Banks (Southeast) 8 FBK, FBNC, FBP, HWC, OZK, SBCF, SMMF, SNV
Financial Finance Major Banks (Regional) 4 CMA, NTRS, PNC, USB
Financial Finance Major Banks (West) 5 EWBC, FHB, PPBI, TBK, VBTX
Financial Capital Goods Homebuilding 3 DFH, LEN, NVR
Financial Finance Finance: Consumer Services 4 ATLC, FCFS, SLM, YRD
Financial Miscellaneous Business Services 12 AFRM, AXP, DFS, DLO, EVTC, FLYW, FOUR, MQ, PAGS, PAYA, SQ, STNE
Financial Finance Investment Bankers/Brokers/Service 8 AMP, CS, FUTU, HOOD, LAZ, OPY, SCHW, TIGR
Financial Finance Investment Managers 13 AB, AMG, APAM, ARES, BX, CNS, FOCS, IVZ, JHG, MN, NOAH, TPVG, TROW
Financial Consumer Services Real Estate Investment Trusts 2 LADR, STWD
Financial Consumer Services Real Estate Investment Trusts 1 UWMC
Financial Consumer Services Real Estate Investment Trusts 12 AIV, AMT, CTRE, CXW, IIPR, LSI, NSA, PEB, PLD, REXR, SLG, TRNO
Financial Finance Major Banks (Savings) 4 BKU, CASH, FFBC, PBCT
Financial Consumer Services Other Consumer Services (Specialty) 9 ALLY, DFIN, FRG, HRB, HUT, NAVI, PRAA, TRU, TW
Financial Finance Accident &Health Insurance 2 CNO, TRUP
Financial Finance Specialty Insurers 4 AON, BRP, ERIE, MMC
Financial Finance Property-Casualty Insurers (Diversified) 3 HIG, MFC, PFG
Financial Finance Life Insurance 5 AEL, BHF, LNC, MET, PRU
Financial Finance Property-Casualty Insurers 13 AGO, CINF, FAF, FNF, GSHD, HRTG, LMND, MHLD, MKL, THG, TRV, WRB, Y
Financial Finance Real Estate 8 ASR, CBRE, JLL, KW, MMI, OPEN, RDFN, TCN


Which industry groups show weakness this week?

Technology Technology Computer Software: Prepackaged Software (Security) -1 TUFN
Technology Public Utilities Telecommunications Equipment (Integrated) -1 VZ
Retail Consumer Non-Durables Package Goods/Cosmetics -2 CL, USNA
Retail Consumer Services Catalog/Specialty Distribution -2 DOLE, LNDC
Retail Consumer Non-Durables Packaged Foods -1 SJM
Retail Consumer Services Marine Transportation -1 FXLV
Retail Miscellaneous Business Services -1 SOND
Retail Consumer Services Television Services -1 VIA
Retail Consumer Services Automotive Aftermarket (Parts) -1 MNRO
Retail Consumer Services Clothing/Shoe/Accessory Stores -1 CATO
Retail Consumer Services Restaurants -1 GTIM
Industrial Capital Goods Military/Government/Technical -1 HII
Industrial Capital Goods Engineering & Construction -2 HIL, ROAD
Industrial Basic Industries Major Chemicals: Others -1 CNEY
Industrial Public Utilities Power Generation -3 AVA, CPK, NWE
Health Health Care Major Pharmaceuticals -1 ACOR
Health Health Care Medical/Dental Instruments -1 IART
Commodities Consumer Services Farming/Seeds/Milling -1 BG
Commodities Basic Industries Precious Metals -2 AU, BVN
Commodities Energy Oilfield Services/Equipment -1 CLB
Commodities Energy Integrated oil Companies -1 XOM
Commodities Energy Metal Fabrications -1 GEOS
Commodities Energy Natural Gas Distribution -1 HESM
Financial Finance Major Banks (Midwest) -1 BY
Financial Finance Major Banks (Northeast) -1 HONE
Financial Finance Major Banks (Southeast) -1 UCBI
Financial Finance Major Banks (West) -6 COLB, CVBF, FFWM, FIBK, FINW, HMST
Financial Finance Investment Bankers/Brokers/Service -1 PWP
Financial Consumer Services Real Estate Investment Trusts -1 ABR
Financial Consumer Services Real Estate Investment Trusts -2 ATAX, RDN
Financial Consumer Services Real Estate Investment Trusts -1 CPT
Financial Finance Major Banks (Savings) -1 NWBI
Financial Finance Specialty Insurers -1 RYAN


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