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Research >> MCBOSS CAPITAL >> Stock market news today 2022 >> The stock market took a breather this week - April 1, 2022
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The stock market took a breather this week - April 1, 2022

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What happen to the market this week?

The stock market took a breather this week. Nasdaq and S&P 500 rise for the third consecutive week. This is a good sign as the major indices have potentially marked a bottom on March 14, 2022.

Index Mar. 28 - Apr. 1
Nasdaq 0.65%
S&P 500 0.06%
Dow Jones -0.12%
Russell 2000 0.63%

The market indices also had its first significant pullback (typically 3% to 5%) since the market bottom. The question then becomes whether the market can rebound from this pullback.

2022 Mar 29 -
Apr 1 Pullback
Nasdaq -3.52%
S&P 500 -2.80%
Dow Jones -2.36%
Russell 2000 -3.29%

What is the current support level?

The major indices shot up impressively for the first two days of the week before finding support at its short term moving averages. It will be a good sign for the uptrend if the indices can hold at this level.

Nasdaq, S&P 500, DJIA and Russell 2000 found support at its 10 days moving average. This may be a bullish signal. The indices are comfortably sitting above its 50 days moving average. It would not be surprising if market might try to stabilize near the short term moving averages before taking another leg higher.

  • NASDAQ - above its 50 days moving average line near 13800; current at 14261
  • S&P 500 - above its 50 days moving average line near 4420; current at 4545
  • DJIA - above its 50 days moving average line near 34400; current at 34818
  • RUSSELL 2000 - above its 50 days moving average line near 2025; current at 2091

Psychological levels

  • Nasdaq is now above14000.
  • S&P 500 is now above 4500.
  • Dow Jones Industrial Average is above 34000.
  • Small cap Russell 2000 is above 2000.

Stock market breadth - Accumulation vs Distribution for this week:

#industry groups 41 vs 42
#stocks 181 vs 211

The accumulation and distribution for both stocks and industry groups are pretty even with slightly more distribution. There is no clear sign that market trend has changed so it continues to favor the stock market uptrend.

Which stocks from each industry group show strength?

There are some accumulation from different industry groups and sectors.

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Special) 1 APPF
Technology Technology Computer Software: Prepackaged Software (Database) 1 PRGS
Technology Technology Computer Software: Prepackaged Software (Enterprise) 4 AZPN, BZUN, HCP, SUMO
Technology Technology EDP Services (Gaming) 1 SCPL
Technology Technology EDP Services (Medical) 2 EVH, SLP
Technology Technology Computer Software: Prepackaged Software (Security) 3 PING, STER, VRNT
Technology Technology EDP Services (Tech Services) 4 CTG, GDYN, HCKT, PRFT
Technology Technology Semiconductors 1 CEVA
Technology Technology Computer Software: Programming, Data Processing (Content) 1 ATHM
Technology Consumer Services Television Services 1 CCOI
Technology Public Utilities Telecommunications Equipment (Foreign) 1 TEO
Technology Public Utilities Telecommunications Equipment (Integrated) 1 VZ
Technology Technology Radio And Television Broadcasting And Communications Equipment 1 RFIL
Retail Capital Goods Auto Manufacturing 2 NIO, XPEV
Retail Capital Goods Auto Parts:O.E.M. (Equipment) 1 QS
Retail Consumer Non-Durables Beverages Alcoholic (Production/Distribution) 1 MGPI
Retail Consumer Services Other Consumer Services 1 FC
Retail Consumer Non-Durables Package Goods/Cosmetics 2 CL, IPAR
Retail Consumer Non-Durables Specialty Foods 1 TR
Retail Consumer Non-Durables Meat/Poultry/Fish 4 BRFS, CALM, IBA, SAFM
Retail Consumer Services Catalog/Specialty Distribution 2 JBSS, MKC
Retail Consumer Non-Durables Packaged Foods 4 FRPT, LW, NOMD, POST
Retail Consumer Services Hotels/Resorts (Lodging) 1 HTHT
Retail Consumer Services Consumer Electronics/Video Chains 2 CSSE, DLPN
Retail Consumer Non-Durables Recreational Products/Toys, Motor Vehicles 1 DOOO
Retail Consumer Services Television Services 1 TV
Retail Consumer Services RETAIL: Building Materials 1 MSM
Retail Consumer Services Clothing/Shoe/Accessory Stores 2 CHS, LULU
Retail Miscellaneous Business Services (Internet) 1 RENT
Retail Consumer Services Other Specialty Stores (Leisure) 1 ASO
Retail Consumer Services Restaurants 2 BLMN, PLAY
Retail Consumer Non-Durables Farming/Seeds/Milling 1 VGR
Retail Transportation Air Freight/Delivery Services 2 ALGT, RYAAY
Industrial Capital Goods Military/Government/Technical 1 JOBY
Industrial Consumer Durables Building Products 1 CNM
Industrial Basic Industries Paints/Coatings 1 RPM
Industrial Basic Industries Major Chemicals: Others 1 LTHM
Industrial Technology Industrial Machinery/Components 2 CHE, CSL
Industrial Technology Electrical Products 1 FLEX
Industrial Capital Goods Electrical Products 1 CGNX
Industrial Consumer Services Other Consumer Services 1 SCI
Industrial Capital Goods Fluid Controls 3 ERII, FLS, GGG
Industrial Capital Goods Industrial Machinery/Components (Tools) 1 LECO
Industrial Basic Industries Aluminum 1 ARNC
Industrial Consumer Services Office Equipment/Supplies/Services 1 AVY
Industrial Basic Industries Paper 1 NP
Industrial Basic Industries Environmental Services 2 AQUA, SRCL
Industrial Consumer Services Marine Transportation 2 CPLP, GOGL
Industrial Public Utilities Power Generation 2 AEE, CPK
Industrial Basic Industries Electric Utilities: Central 1 PNM
Industrial Public Utilities Oil/Gas Transmission 2 NFG, SWX
Industrial Public Utilities Water Supply 1 AWR
Health Health Care Major Pharmaceuticals 17 ACET, ALKS, ALNY, APLS, BNTX, BPMC, CARA, FMTX, HALO, INSM, NGM, PCRX, RARE, REGN, SAGE, SGMO, VRTX
Health Health Care Major Pharmaceuticals (Generic Drugs) 2 EGRX, TEVA
Health Health Care Hospital/Nursing Management (Long term care) 1 ENSG
Health Health Care Medical/Nursing Services 5 ACHC, ADUS, AMED, FMS, LHCG
Health Health Care Medical/Dental Instruments 7 ALC, EW, IART, INSP, ITGR, LIVN, PEN
Health Health Care Medical Specialities (Services) 2 IRTC, TVTY
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus 2 CUTR, SWAV
Commodities Basic Industries Agricultural Chemicals 2 AVD, SQM
Commodities Energy Coal Mining 1 AMR
Commodities Technology Semiconductors (Solar) 1 FSLR
Commodities Basic Industries Precious Metals 2 LAC, MP
Commodities Energy Oilfield Services/Equipment 2 HLX, TUSK
Commodities Energy Integrated oil Companies 1 YPF
Commodities Energy Metal Fabrications 2 DRQ, WHD
Commodities Energy Integrated oil Companies 2 CVI, TRGP
Commodities Energy Oil & Gas Production (Royalty Trust) 1 SJT
Commodities Energy Natural Gas Distribution 4 ET, FLNG, GLNG, STNG
Commodities Energy Oil & Gas Production (U.S.) 4 CDEV, GPOR, MNRL, SWN
Financial Finance Commercial Banks 1 IBN
Financial Finance Investment Bankers/Brokers/Service 2 JEF, PIPR
Financial Finance Investment Managers 2 IVZ, MN
Financial Consumer Services Real Estate Investment Trusts 1 STWD
Financial Consumer Services Real Estate Investment Trusts 20 ADC, AMH, AVB, CPT, CXW, ELS, EXR, IIPR, LSI, MAA, MGP, NNN, NTST, PEB, PLD, PSB, REXR, SUI, TRNO, UDR
Financial Consumer Services Other Consumer Services (Specialty) 3 MSCI, PFMT, VIRT
Financial Finance Property-Casualty Insurers 2 SIGI, WRB
Financial Finance Real Estate 2 ASR, MMI

Which stocks from each industry group show weakness?

Technology Technology Computer Software: Prepackaged Software (Special) -3 DCT, IS, VRRM
Technology Technology Computer Software: Prepackaged Software (Education/Media) -1 RNWK
Technology Technology Computer Software: Prepackaged Software (Enterprise) -7 ALIT, BB, CNXC, FRSH, MIXT, PATH, TRMR
Technology Technology Computer Software: Prepackaged Software (Financial) -1 ACIW
Technology Technology Electronic Components -2 MU, SGH
Technology Technology Computer Manufacturing -3 DELL, HPQ, SMCI
Technology Technology Semiconductors -2 AOSL, QCOM
Technology Technology Semiconductors (Equip) -7 ACLS, ACMR, AEHR, KLIC, MKSI, PLAB, VECO
Technology Technology Semiconductors (Manufacturing) -3 DIOD, GFS, MTSI
Technology Technology Computer Software: Programming, Data Processing (Content) -2 FENG, MOMO
Retail Consumer Services Clothing/Shoe/Accessory Stores -3 CRI, KTB, PVH
Retail Consumer Non-Durables Shoe Manufacturing -1 SHOO
Retail Consumer Non-Durables Beverages Non-Alcoholic (Production/Distribution) -1 NBEV
Retail Capital Goods Industrial Machinery/Components -2 ST, SYNA
Retail Consumer Non-Durables Packaged Foods -1 BGS
Retail Consumer Durables Office Equipment/Supplies/Services -2 PRPL, TPX
Retail Consumer Non-Durables Plastic Products -1 WHR
Retail Consumer Services Hotels/Resorts (Gaming) -1 BYD
Retail Consumer Services Consumer Electronics/Video Chains -3 CURI, FUBO, MCS
Retail Consumer Non-Durables Recreational Products/Toys, Motor Vehicles -2 ESCA, MBUU
Retail Consumer Services Marine Transportation -1 DIDI
Retail Consumer Services Television Services -1 GTN
Retail Consumer Durables Automotive Aftermarket -4 AN, PAG, SAH, VRM
Retail Consumer Services RETAIL: Building Materials -4 FND, HD, LOW, TSCO
Retail Consumer Services Clothing/Shoe/Accessory Stores -8 BKE, CATO, CTRN, DLTH, EXPR, GCO, SCVL, TLYS
Retail Consumer Services Consumer Electronics/Video Chains -1 CONN
Retail Health Care Medical/Nursing Services -3 CVS, RAD, WBA
Retail Consumer Services Other Specialty Stores -5 KIRK, LZB, RH, SNBR, WSM
Retail Miscellaneous Business Services (Internet) -1 CHWY
Retail Consumer Services Other Specialty Stores (Leisure) -7 BGFV, HIBB, HZO, PLBY, POOL, SPWH, WINA
Retail Consumer Services Restaurants -4 CBRL, DNUT, FRGI, GTIM
Retail Consumer Services Food Chains -1 IMKTA
Retail Technology Retail: Computer Software & Peripheral Equipment -1 SNX
Industrial Basic Industries Mining & Quarrying of Nonmetallic Minerals (No Fuels) -2 CRH, EXP
Industrial Consumer Durables Building Products -9 ATKR, AZEK, BLD, BLDR, FBHS, GFF, MHK, PGTI, TREX
Industrial Basic Industries Major Chemicals: Plastics -1 AVNT
Industrial Basic Industries Major Chemicals: Others -1 WDFC
Industrial Consumer Durables Metal Fabrications -2 AMOT, VLTA
Industrial Miscellaneous Industrial Machinery/Components -1 BELFB
Industrial Consumer Services Other Consumer Services -2 CSV, HI
Industrial Capital Goods Fluid Controls -1 ESE
Industrial Energy Industrial Machinery/Components -1 VJET
Industrial Capital Goods Industrial Machinery/Components (Tools) -1 KMT
Industrial Basic Industries Metal Fabrications -1 PKOH
Industrial Basic Industries Aluminum -2 MLI, RS
Industrial Consumer Services Office Equipment/Supplies/Services -1 DLX
Industrial Basic Industries Paper -1 SWM
Industrial Basic Industries Environmental Services -1 CECE
Industrial Capital Goods Wholesale Distributors -1 BLBD
Industrial Transportation Trucking Freight/Courier Services -1 SNDR
Industrial Transportation Trucking Freight/Courier Services -11 ARCB, FWRD, HTLD, JBHT, KNX, MRTN, ODFL, PTSI, SAIA, TFII, WERN
Industrial Capital Goods Auto Manufacturing -2 OSK, SHYF
Health Health Care Major Pharmaceuticals -4 ALVR, LPCN, MRVI, RGC
Health Health Care Medical Specialities (Services) -3 NEO, PMD, PROG
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus -3 INMD, PLSE, WAT
Commodities Energy Industrial Machinery/Components -1 IEA
Commodities Capital Goods Industrial Machinery/Components -1 ALG
Commodities Energy Integrated oil Companies -1 NS
Commodities Energy Natural Gas Distribution -1 HESM
Financial Finance Major Banks (Midwest) -3 ASB, BY, HBNC
Financial Finance Major Banks -3 BCS, C, SMFG
Financial Finance Major Banks (Northeast) -7 CFG, CNOB, CUBI, EGBN, HONE, INDB, MTB
Financial Finance Major Banks (Southeast) -7 ABCB, FBK, FBNC, FCNCA, RNST, SBCF, SFNC
Financial Finance Major Banks (Regional) -2 CMA, TFC
Financial Finance Major Banks (West) -10 ABTX, BANR, COLB, CVBF, FHB, GBCI, HOPE, IBTX, PPBI, TCBI
Financial Capital Goods Homebuilding -11 CCS, DHI, GRBK, HOV, KBH, LEN, LGIH, MDC, MTH, NVR, TMHC
Financial Finance Investment Bankers/Brokers/Service -2 BGCP, MKTX
Financial Consumer Services Real Estate Investment Trusts -1 NLY
Financial Consumer Services Real Estate Investment Trusts -1 ATAX
Financial Finance Major Banks (Savings) -3 FFBC, ISBC, PBCT
Financial Finance Property-Casualty Insurers -1 UIHC
Financial Finance Real Estate -1 RDFN


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