Our Cookie Policy

MCBOSS CAPITAL and carefully selected third parties use cookies on this site to improve performance, for analytics and to show you offers tailored to your interests on our site and third party sites. By continuing to use our site, you consent to our use of cookies. Privacy Policy


Research >> MCBOSS CAPITAL >> Stock market news today 2022 >> The stock market conditions deteriorated this week - April 8, 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 closed strong this week despite first rate hike - March 18, 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 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
Search more Products

The stock market conditions deteriorated this week - April 8, 2022

  • 10 views
What happen to the market this week?

The stock market conditions deteriorate this week. Nasdaq and Russell 2000 suffered significant losses as a Federal Reserve representative signal faster reduction in balance sheet.

Index Apr. 4 - 8
Nasdaq -3.86%
S&P 500 -1.27%
Dow Jones -0.28%
Russell 2000 -4.62%

The market indices also had its first significant pullback since the market bottom on Mar 14. The question then becomes whether the market can rebound from this pullback. Nasdaq is at risk of another technical correction of 10% if it doesn't pull itself backup soon.

2022 Mar 29 - Apr 9 Pullback
Nasdaq -6.54%
S&P 500 -4.04%
Dow Jones -3.34%
Russell 2000 -7.22%

What is the current support level?

Nasdaq fell below its 10, 21 and 50 days moving average. This is not good sign. It needs to bounce immediately, otherwise, this uptrend may be broken technically.

S&P 500 fell below 10 days moving average and then to its 21 days moving average. It looks slightly better than Nasdaq.

Dow Jones Industrial Average looks the strongest as it is trying to hold onto its 10 days moving average.

Russell 2000 fell further below its 50 days moving average and is the weakest of all the major indices. This is not a good sign.

  • NASDAQ - below its 50 days moving average line near 13800; current at 13711
  • S&P 500 - above its 50 days moving average line near 4420; current at 4488
  • DJIA - above its 50 days moving average line near 34400; current at 34721
  • RUSSELL 2000 - below its 50 days moving average line near 2025; current at 1994

Psychological levels

  • Nasdaq is now below 14000.
  • S&P 500 is now below 4500.
  • Dow Jones Industrial Average is above 34000.
  • Small cap Russell 2000 is now below 2000.

Stock market breadth - Accumulation vs Distribution for this week:

#industry groups 24 vs 72
#stocks 111 vs 355

The distribution this week for both stocks and industry groups overwhelm the ones under accumulation by nearly 3 to 1 ratio. 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 on health related groups as this sector prove to be more defensive in nature.

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Special) 1 CDK
Technology Technology Computer Software: Prepackaged Software (Education/Media) 1 PERI
Technology Technology Computer Software: Prepackaged Software (Enterprise) 1 CXM
Technology Technology Computer Software: Prepackaged Software (Financial) 1 BKI
Technology Technology EDP Services (Medical) 1 CHNG
Technology Technology Computer Software: Prepackaged Software (Security) 1 TUFN
Technology Technology EDP Services (Tech Services) 2 CTG, HCKT
Technology Public Utilities Telecommunications Equipment (Foreign) 1 TEO
Technology Public Utilities Telecommunications Equipment (Integrated) 1 VZ
Technology Public Utilities Telecommunications Equipment (Wireless) 2 TMUS, USM
Technology Technology Radio And Television Broadcasting And Communications Equipment 2 CLRO, GOGO
Retail Capital Goods Auto Manufacturing 1 TTM
Retail Consumer Non-Durables Beverages Alcoholic (Production/Distribution) 2 MGPI, STZ
Retail Consumer Non-Durables Beverages Non-Alcoholic (Production/Distribution) 1 FIZZ
Retail Consumer Non-Durables Consumer Electronics/Appliances
Retail Consumer Services Other Consumer Services 1 EDU
Retail Consumer Non-Durables Package Goods/Cosmetics 2 CL, MED
Retail Consumer Non-Durables Specialty Foods 1 SMPL
Retail Consumer Non-Durables Packaged Foods 3 CAG, LW, STKL
Retail Consumer Services Automotive Aftermarket (Parts) 1 GPC
Retail Consumer Services Clothing/Shoe/Accessory Stores 1 DBI
Retail Consumer Services Department/Specialty Retail Stores 3 BJ, DG, OLLI
Retail Consumer Services Department/Specialty Retail Stores 3 COST, PSMT, TGT
Retail Consumer Services Food Chains 2 ACI, CASY
Retail Transportation Air Freight/Delivery Services 1 SAVE
Industrial Capital Goods Military/Government/Technical 1 TDY
Industrial Capital Goods Engineering & Construction 1 PRIM
Industrial Basic Industries Paints/Coatings 1 RPM
Industrial Basic Industries Major Chemicals: Others 1 CNEY
Industrial Miscellaneous Business Services 2 ICFI, RGP
Industrial Miscellaneous Office Equipment/Supplies/Services
Industrial Miscellaneous Business Services (Market Research) 3 FDS, MORN, NLSN
Industrial Miscellaneous Business Services (Outsourcing) 2 ADP, CNDT
Industrial Technology Professional Services 1 JOBS
Industrial Technology Industrial Machinery/Components 1 ROP
Industrial Miscellaneous Industrial Machinery/Components 1 MEI
Industrial Consumer Services Other Consumer Services 1 SCI
Industrial Capital Goods Fluid Controls 1 ERII
Industrial Public Utilities Power Generation 2 AEE, CMS
Industrial Basic Industries Electric Utilities: Central 1 ETR
Health Health Care Major Pharmaceuticals 15 AMPH, BPMC, CORT, CYTK, ENTA, INSM, IONS, PCRX, RARE, REGN, RPRX, SRPT, SUPN, UTHR, VRTX
Health Health Care Major Pharmaceuticals (Diversified) 1 LLY
Health Health Care Major Pharmaceuticals (Ethical Drugs) 8 BMY, ENDP, JAZZ, MRK, NVO, NVS, SNY, ZTS
Health Health Care Major Pharmaceuticals (Generic Drugs) 1 TEVA
Health Health Care Medical Specialities 2 ANTM, UNH
Health Health Care Medical/Nursing Services 2 ACHC, DVA
Health Health Care Medical/Dental Instruments 4 ANGO, GKOS, LNTH, SILK
Health Health Care Biotechnology: Commercial Physical & Biological Research 2 BIO, IQV
Health Health Care Medical Specialities (Supplies) 1 PDCO
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus 2 HOLX, SWAV
Health Health Care Other Pharmaceuticals 2 ABC, CAH
Commodities Basic Industries Agricultural Chemicals 2 IPI, LXU
Commodities Energy Coal Mining 1 ARCH
Commodities Energy Oilfield Services/Equipment 1 RES
Commodities Energy Oil & Gas Production (Royalty Trust) 1 SBR
Commodities Energy Oil & Gas Production (U.S.) 3 BSM, SBOW, SWN
Financial Finance Investment Bankers/Brokers/Service 1 LPLA
Financial Consumer Services Real Estate Investment Trusts 1 AMT
Financial Consumer Services Other Consumer Services (Specialty) 3 BCSF, ENV, TW
Financial Finance Specialty Insurers 1 AJG
Financial Finance Property-Casualty Insurers 1 PGR
Financial Finance Real Estate 1 NTP

Which stocks from each industry group show weakness?

Industry Sub-group # Stocks
Technology Computer Software: Prepackaged Software (Special) -4 CRTD, DCT, IS, TEAM
Technology Computer Software: Prepackaged Software (Design) -1 PTC
Technology Computer Software: Prepackaged Software (Enterprise) -10 ALIT, BRZE, CNXC, DOMO, ECOM, EGHT, ETWO, FRSH, PATH, PAYC
Technology Computer Software: Prepackaged Software (Financial) -2 ACIW, FICO
Technology Computer Software: Prepackaged Software (Security) -1 CGNT
Technology Electronic Components -3 PSTG, SGH, WDC
Technology Computer Manufacturing -1 DELL
Technology EDP Services (Integrated System) -1 AGYS
Technology Computer Communications Equipment -1 DGII
Technology EDP Services (Tech Services) -2 PRFT, UIS
Technology Semiconductors -8 HIMX, LSCC, MPWR, MRVL, MXL, NXPI, QCOM, SMTC
Technology Semiconductors (Equip) -13 ACLS, ACMR, AEHR, AEIS, AMAT, CCMP, COHU, ENTG, ICHR, MKSI, NVMI, ONTO, UCTT
Technology Semiconductors (Manufacturing) -10 ADI, ALGM, AMKR, DIOD, MTSI, MX, ON, PI, STM, SWKS
Technology Computer Software: Programming, Data Processing (Content) -2 BILI, KIND
Technology Radio And Television Broadcasting And Communications Equipment -1 BDC
Technology Radio And Television Broadcasting And Communications Equipment -1 VOXX
Consumer Durables Telecommunications Equipment -1 INFN
Technology Radio And Television Broadcasting And Communications Equipment -2 COMM, VSAT
Consumer Services Clothing/Shoe/Accessory Stores -2 KTB, LEVI
Capital Goods Auto Manufacturing -3 GM, HMC, NIO
Capital Goods Auto Parts:O.E.M. (Equipment) -3 DAN, VC, WKHS
Consumer Non-Durables Beverages Non-Alcoholic (Production/Distribution) -1 NBEV
Consumer Durables Specialty Chemicals -3 ACB, OGI, TLRY
Consumer Services Other Consumer Services -2 FC, LRN
Consumer Non-Durables Package Goods/Cosmetics -1 IFF
Capital Goods Industrial Machinery/Components -1 SYNA
Consumer Non-Durables Packaged Foods (Dairy) -1 OTLY
Consumer Services Catalog/Specialty Distribution -1 LNDC
Consumer Durables Office Equipment/Supplies/Services -2 HNI, SCS
Consumer Non-Durables Plastic Products -1 MIDD
Consumer Services Hotels/Resorts (Gaming) -4 CZR, EBET, RRR, SGMS
Consumer Services Consumer Electronics/Video Chains -5 CSSE, DLPN, FUBO, GAIA, MCS
Consumer Non-Durables Recreational Products/Toys, Motor Vehicles -5 BC, ELY, ESCA, MBUU, YETI
Consumer Services Marine Transportation -5 CCL, EDR, SEAS, TNL, VAC
Miscellaneous Business Services -2 ISPO, SEAT
Consumer Services Television Services -1 VIA
Consumer Services Television Services -3 GTN, NXST, SSP
Consumer Durables Automotive Aftermarket -3 CVNA, RUSHA, VRM
Consumer Services RETAIL: Building Materials -2 BXC, SITE
Miscellaneous Business Services (Internet) -2 RENT, SSTK
Consumer Services Other Specialty Stores (Leisure) -1 PLBY
Consumer Services Restaurants -7 BJRI, KRUS, NATH, PLAY, SBUX, SHAK, WEN
Transportation Air Freight/Delivery Services -3 ALGT, JBLU, ULCC
Technology Retail: Computer Software & Peripheral Equipment -1 SNX
Capital Goods Military/Government/Technical -2 HEI, JOBY
Consumer Durables Consumer Electronics/Appliances -1 AOS
Consumer Durables Building Products -11 APOG, ATKR, AYI, AZEK, BLD, BLDR, GFF, OC, PGTI, TILE, TREX
Capital Goods Engineering & Construction -2 HIL, MTZ
Finance Diversified Commercial Services -1 IBP
Industrial Consumer Non-Durables -3 CVCO, REVG, SKY
Basic Industries Forest Products -3 LPX, UFPI, WFG
Basic Industries Major Chemicals -2 HUN, WLK
Basic Industries Major Chemicals: Others -5 ATC, ESI, MTX, PX, UNVR
Technology Diversified Commercial Services -7 HRI, R, TGH, TRTN, UHAL, URI, WSC
Miscellaneous Business Services (Outsourcing) -1 UNF
Technology Professional Services -3 MAN, RHI, TBI
Technology Industrial Machinery/Components -2 CSL, TRS
Technology Electrical Products -1 SANM
Capital Goods Electrical Products -1 CYBE
Consumer Durables Metal Fabrications -5 AZZ, FELE, GNRC, RRX, VLTA
Miscellaneous Industrial Machinery/Components -6 ARW, AVT, BELFB, LFUS, VICR, VSH
Consumer Services Other Consumer Services -1 HI
Capital Goods Fluid Controls -8 CFX, DOV, ESE, GGG, HLIO, IR, ITT, KRNT
Capital Goods Industrial Machinery/Components (Tools) -2 KMT, LECO
Basic Industries Aluminum -3 MTRN, NNBR, WOR
Consumer Services Office Equipment/Supplies/Services -1 DLX
Basic Industries Paper -3 AIN, NP, SWM
Basic Industries Environmental Services -2 CECE, TTEK
Consumer Services Diversified Commercial Services -4 ALRM, BCO, MSA, REZI
Transportation Air Freight/Delivery Services -4 AAWW, ATSG, FDX, UPS
Capital Goods Wholesale Distributors -1 GBX
Transportation Trucking Freight/Courier Services -3 DSKE, SNDR, XPO
Transportation Railroads -2 NSC, UNP
Consumer Services Marine Transportation -6 CMRE, DAC, GSL, KEX, MATX, ZIM
Transportation Trucking Freight/Courier Services -9 ARCB, FWRD, HTLD, MRTN, ODFL, PTSI, SAIA, TFII, USAK
Capital Goods Auto Manufacturing -3 CVGI, OSK, SHYF
Health Care Major Pharmaceuticals -6 BEAM, CDMO, LGND, RPTX, TRVN, VERV
Health Care Medical/Nursing Services -1 MD
Health Care Medical/Dental Instruments -1 RGEN
Health Care Biotechnology: Commercial Physical & Biological Research -1 DNAY
Health Care Medical Specialities (Services) -1 BEAT
Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus -2 INMD, MASI
Energy Industrial Machinery/Components -5 CWEN, GPRE, KEN, PLUG, REX
Technology Semiconductors (Solar) -2 ARRY, SHLS
Capital Goods Construction/Ag Equipment/Trucks -1 TEX
Capital Goods Industrial Machinery/Components -2 ALG, LNN
Basic Industries Precious Metals -2 LAC, PLL
Finance Commercial Banks -2 BAP, CM
Finance Major Banks (Midwest) -2 ASB, MBIN
Finance Major Banks -1 TD
Finance Major Banks (Northeast) -6 CFG, CUBI, EGBN, INDB, LBAI, MCB
Finance Major Banks (Southeast) -11 ABCB, FBK, FBNC, HOMB, LOB, OFG, OZK, PNFP, RNST, SFNC, TRMK
Finance Major Banks (Regional) -3 HBAN, KEY, SIVB
Finance Major Banks (West) -13 ABTX, BANR, COLB, CVBF, GBCI, HOPE, IBTX, PB, PPBI, STXB, TBK, TCBI, WAL
Capital Goods Homebuilding -14 BZH, CCS, DHI, GRBK, HOV, KBH, LEN, LGIH, MDC, NVR, PHM, TMHC, TOL, TPH
Finance Finance: Consumer Services -1 WD
Finance Finance: Consumer Services -1 COOP
Miscellaneous Business Services -3 FOUR, IIIV, TOST
Finance Investment Bankers/Brokers/Service -9 BGCP, COWN, HLI, MC, MKTX, OPY, PIPR, PWP, RILY
Finance Investment Managers -1 VRTS
Consumer Services Real Estate Investment Trusts -3 GPMT, LADR, STWD
Consumer Services Real Estate Investment Trusts -2 NMIH, RKT
Consumer Services Real Estate Investment Trusts -2 AHT, IIPR
Finance Major Banks (Savings) -5 BKU, FBC, FFBC, ISBC, WSFS
Consumer Services Other Consumer Services (Specialty) -1 ICE
Finance Life Insurance -1 AEL
Finance Property-Casualty Insurers -7 EIG, FAF, FNF, MBI, MHLD, STC, UIHC
Finance Real Estate -6 FOR, JLL, JOE, NMRK, RDFN, RLGY


Disclaimer: MCBOSS CAPITAL provides financial education and information research. None of this information should be used for investment purpose. Please seek professional advice. Information provided may not always be accurate.

Copyright © MCBOSS CAPITAL 2021. All Rights Reserved. Powered by Echofavor
Copyright © MCBOSS CAPITAL 2021. All Rights Reserved.
Powered by Echofavor