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The stock market conditions continue to deteriorate this week - April 15, 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 deteriorated this week - April 8, 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
The stock market rebound strongly this week - July 8, 2022
The stock market is stuck in a trading range - July 15, 2022
The stock market breaks out - July 22, 2022
Why is stock market bullish today, or is it going to turn bearish soon
Is stock market ready for a pause or will it continue this rally? - August 5, 2022
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The stock market conditions continue to deteriorate this week - April 15, 2022
What happen to the market this week?
The stock market conditions continue to deteriorate this week. Nasdaq performs the worst but Russell 2000 surprisingly gave a positive performance this week.
| Index | Apr. 14 |
| Nasdaq | -2.63% |
| S&P 500 | -2.13% |
| Dow Jones | -0.78% |
| Russell 2000 | 0.52% |
More inflation data came out this week with CPI hitting 8.5% but exclude energy/food is only 0.3% actual vs 0.5% estimate. The PPI came out at 11.2% which is higher than expected.
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 14 Pullback | |
| Nasdaq | -9.07% |
| S&P 500 | -5.52% |
| Dow Jones | -3.59% |
| Russell 2000 | -7.57% |
What is the current support level?
Nasdaq drop further below its 50 days moving average. This is not good sign.
S&P 500 is slightly below its 10 days moving average. It needs to rebound very soon in order to avoid a further downtrend.
Dow Jones Industrial Average is perhaps the strongest index at the moment as it is trying to hold above its 50 days moving average.
Russell 2000 went up slightly this week but it is still below its 50 days moving average.
- NASDAQ - below its 50 days moving average line near 13800; current at 13351
- S&P 500 - above its 50 days moving average line near 4420; current at 4392
- DJIA - above its 50 days moving average line near 34400; current at 34451
- RUSSELL 2000 - below its 50 days moving average line near 2025; current at 2004
Psychological levels
- Nasdaq is now below 14000.
- S&P 500 is now below 4400.
- Dow Jones Industrial Average is above 34000.
- Small cap Russell 2000 is now above 2000.
Stock market breadth - Accumulation vs Distribution for this week:
| Accumulation | Distribution | |
| #industry groups | 21 | 40 |
| #stocks | 103 | 158 |
The market uptrend is under pressure as there continues to be more distribution than accumulation in recent weeks.
Check out our course How to measure or calculate stock market breadth.
Which stocks from each industry group show strength?
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | Computer Software: Prepackaged Software (Database) | 2 | BOX, VRNS |
| Technology | Technology | Computer Software: Prepackaged Software (Enterprise) | 1 | FSLY |
| Technology | Technology | Computer Software: Prepackaged Software (Security) | 8 | CRWD, CYBR, HRT, PING, RPD, SAIL, TENB, VRNT |
| Technology | Technology | Electronic Components | 1 | SIMO |
| Technology | Technology | Computer Manufacturing | 1 | TACT |
| Technology | Technology | Radio And Television Broadcasting And Communications Equipment | 2 | AVNW, GOGO |
| Retail | Consumer Non-Durables | Shoe Manufacturing | 1 | SHOO |
| Retail | Capital Goods | Auto Parts:O.E.M. (Equipment) | 1 | MTOR |
| Retail | Consumer Non-Durables | Beverages Alcoholic (Production/Distribution) | 1 | STZ |
| Retail | Consumer Non-Durables | Beverages Non-Alcoholic (Production/Distribution) | 2 | FIZZ, MNST |
| Retail | Consumer Durables | Specialty Chemicals | 1 | OGI |
| Retail | Consumer Non-Durables | Package Goods/Cosmetics | 2 | EWCZ, HELE |
| Retail | Consumer Non-Durables | Specialty Foods | 1 | SMPL |
| Retail | Consumer Non-Durables | Packaged Foods | 1 | ANDE |
| Retail | Consumer Non-Durables | Packaged Foods | 3 | CAG, FRPT, GIS |
| Retail | Consumer Non-Durables | Consumer Specialties | 1 | MOV |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 6 | AEO, BURL, CTRN, GCO, LULU, ROST |
| Retail | Consumer Services | Department/Specialty Retail Stores | 1 | KSS |
| Retail | Consumer Services | Department/Specialty Retail Stores | 3 | DLTR, FIVE, OLLI |
| Retail | Consumer Services | Other Specialty Stores (Leisure) | 1 | HZO |
| Retail | Consumer Services | Restaurants | 1 | CBRL |
| Retail | Consumer Services | Other Specialty Stores | 1 | SBH |
| Retail | Consumer Services | Food Chains | 1 | IMKTA |
| Retail | Transportation | Air Freight/Delivery Services | 3 | AAL, BLDE, DAL |
| Industrial | Capital Goods | Military/Government/Technical | 1 | AIR |
| Industrial | Capital Goods | Engineering & Construction | 1 | PRIM |
| Industrial | Miscellaneous | Business Services (Outsourcing) | 1 | HQY |
| Industrial | Capital Goods | Electrical Products | 1 | CYBE |
| Industrial | Consumer Services | Other Consumer Services | 1 | SCI |
| Industrial | Basic Industries | Metal Fabrications | 1 | RYI |
| Industrial | Basic Industries | Aluminum | 2 | ARNC, WOR |
| Industrial | Consumer Services | Marine Transportation | 3 | DSX, GOGL, SBLK |
| Industrial | Public Utilities | Oil/Gas Transmission | 1 | SWX |
| Health | Health Care | Major Pharmaceuticals | 7 | ESPR, HRMY, IONS, NKTR, RARE, RPRX, VRTX |
| Health | Health Care | Medical/Nursing Services | 1 | ACHC |
| Health | Health Care | Medical/Dental Instruments | 1 | GMED |
| Health | Health Care | Medical Specialities (Supplies) | 1 | PDCO |
| Health | Health Care | Other Pharmaceuticals | 1 | CAH |
| Commodities | Basic Industries | Agricultural Chemicals | 2 | AVD, IPI |
| Commodities | Energy | Industrial Machinery/Components | 2 | GPRE, ORA |
| Commodities | Energy | Coal Mining | 3 | AMR, ARCH, METC |
| Commodities | Energy | Oilfield Services/Equipment | 2 | KLXE, TUSK |
| Commodities | Energy | Metal Fabrications | 1 | WFRD |
| Commodities | Energy | Oil & Gas Production (Royalty Trust) | 1 | SJT |
| Commodities | Energy | Natural Gas Distribution | 3 | HESM, MMP, NVGS |
| Commodities | Energy | Oil & Gas Production (U.S.) | 7 | BSM, GPOR, HPK, PHX, ROCC, SBOW, SWN |
| Financial | Capital Goods | Homebuilding | 1 | KBH |
| Financial | Finance | Finance: Consumer Services | 1 | CACC |
| Financial | Finance | Investment Bankers/Brokers/Service | 2 | LPLA, RJF |
| Financial | Finance | Investment Managers | 2 | WETF, WHG |
| Financial | Consumer Services | Real Estate Investment Trusts | 1 | LADR |
| Financial | Consumer Services | Real Estate Investment Trusts | 5 | AMH, CRESY, CXW, MGP, SUI |
| Financial | Finance | Property-Casualty Insurers | 1 | ACGL |
Which stocks from each industry group show weakness?
| Technology | Technology | Computer Software: Prepackaged Software (Special) | -1 | DCT |
| Technology | Technology | Computer Software: Prepackaged Software (Database) | -1 | TDC |
| Technology | Technology | Computer Software: Prepackaged Software (Design) | -2 | PTC, SNPS |
| Technology | Technology | Computer Software: Prepackaged Software (Enterprise) | -5 | ECOM, PATH, SAP, SHOP, TRMR |
| Technology | Technology | Computer Software: Prepackaged Software (Security) | -1 | NICE |
| Technology | Technology | Electronic Components | -1 | STX |
| Technology | Technology | EDP Services (Tech Services) | -2 | INFY, WIT |
| Technology | Technology | Semiconductors | -3 | LSCC, MXL, NVDA |
| Technology | Technology | Semiconductors (Equip) | -5 | ACMR, AMAT, FORM, LRCX, MKSI |
| Technology | Technology | Semiconductors (Manufacturing) | -5 | DIOD, IMOS, MTSI, STM, TSM |
| Technology | Technology | Computer Software: Programming, Data Processing (Content) | -2 | BILI, MTCH |
| Technology | Consumer Durables | Telecommunications Equipment | -1 | VIAV |
| Technology | Technology | Radio And Television Broadcasting And Communications Equipment | -1 | CMBM |
| Retail | Capital Goods | Auto Manufacturing | -1 | TM |
| Retail | Capital Goods | Auto Parts:O.E.M. (Equipment) | -2 | ALSN, STRT |
| Retail | Consumer Non-Durables | Consumer Electronics/Appliances | -1 | HEAR |
| Retail | Consumer Non-Durables | Package Goods/Cosmetics | -1 | HLF |
| Retail | Capital Goods | Industrial Machinery/Components | -1 | SYNA |
| Retail | Consumer Non-Durables | Packaged Foods | -1 | NOMD |
| Retail | Consumer Non-Durables | Plastic Products | -2 | IRBT, WHR |
| Retail | Consumer Services | Consumer Electronics/Video Chains | -3 | CSSE, GAIA, IQ |
| Retail | Consumer Services | Newspapers/Magazines | -1 | NWS |
| Retail | Consumer Services | Television Services | -1 | SSP |
| Retail | Consumer Durables | Automotive Aftermarket | -3 | AN, KMX, LAD |
| Retail | Consumer Services | RETAIL: Building Materials | -3 | FAST, GWW, SITE |
| Retail | Health Care | Medical/Nursing Services | -2 | RAD, WBA |
| Retail | Consumer Services | Other Specialty Stores | -2 | RH, SNBR |
| Retail | Miscellaneous | Business Services (Internet) | -2 | VIPS, W |
| Retail | Consumer Services | Other Specialty Stores (Leisure) | -1 | PLBY |
| Retail | Consumer Services | Restaurants | -1 | DENN |
| Retail | Consumer Services | Food Chains | -1 | ACI |
| Industrial | Consumer Durables | Consumer Electronics/Appliances | -2 | LII, WSO |
| Industrial | Consumer Durables | Building Products | -1 | FBHS |
| Industrial | Capital Goods | Engineering & Construction | -1 | AGX |
| Industrial | Basic Industries | Forest Products | -1 | UFPI |
| Industrial | Basic Industries | Paints/Coatings | -1 | PPG |
| Industrial | Basic Industries | Major Chemicals: Others | -1 | CNEY |
| Industrial | Technology | Professional Services | -3 | CCRN, MAN, RHI |
| Industrial | Capital Goods | Electrical Products | -1 | FARO |
| Industrial | Consumer Durables | Metal Fabrications | -3 | AME, FELE, GNRC |
| Industrial | Miscellaneous | Industrial Machinery/Components | -2 | IIVI, LASR |
| Industrial | Capital Goods | Fluid Controls | -4 | DOV, ESE, MTD, PNR |
| Industrial | Capital Goods | Industrial Machinery/Components (Tools) | -1 | XYL |
| Industrial | Consumer Services | Office Equipment/Supplies/Services | -2 | AVY, BRC |
| Industrial | Basic Industries | Environmental Services | -2 | DCI, TTEK |
| Industrial | Consumer Services | Diversified Commercial Services | -2 | ALRM, MSA |
| Industrial | Transportation | Trucking Freight/Courier Services | -2 | EXPD, XPO |
| Industrial | Transportation | Trucking Freight/Courier Services | -4 | MRTN, SAIA, TFII, WERN |
| Industrial | Capital Goods | Auto Manufacturing | -1 | SHYF |
| Industrial | Public Utilities | Power Generation | -1 | AVA |
| Industrial | Basic Industries | Electric Utilities: Central | -1 | POR |
| Health | Health Care | Major Pharmaceuticals | -6 | BEAM, BHVN, CHRS, MYOV, RGC, SUPN |
| Health | Health Care | Major Pharmaceuticals (Ethical Drugs) | -1 | GRFS |
| Health | Health Care | Major Pharmaceuticals (Generic Drugs) | -1 | TARO |
| Health | Health Care | Medical/Nursing Services | -1 | AMED |
| Health | Health Care | Medical/Dental Instruments | -5 | ALC, INGN, MDXG, PEN, RGEN |
| Health | Health Care | Biotechnology: Commercial Physical & Biological Research | -3 | A, BIO, DNAY |
| Health | Health Care | Medical Specialities (Services) | -1 | PMD |
| Health | Health Care | Biotechnology: Electromedical & Electrotherapeutic Apparatus | -2 | INMD, PACB |
| Commodities | Energy | Industrial Machinery/Components | -5 | AMRC, AY, BEP, BEPC, CWEN |
| Commodities | Technology | Semiconductors (Solar) | -1 | NOVA |
| Commodities | Basic Industries | Precious Metals | -1 | LAC |
| Financial | Finance | Major Banks (Midwest) | -1 | MBIN |
| Financial | Finance | Major Banks | -3 | DB, JPM, WFC |
| Financial | Finance | Major Banks (Northeast) | -2 | CFG, CNOB |
| Financial | Finance | Major Banks (Southeast) | -1 | FBNC |
| Financial | Finance | Major Banks (Regional) | -4 | HBAN, KEY, PNC, TFC |
| Financial | Finance | Major Banks (West) | -3 | BANR, GBCI, TBK |
| Financial | Capital Goods | Homebuilding | -2 | HOV, LGIH |
| Financial | Finance | Investment Bankers/Brokers/Service | -3 | LAZ, MKTX, RILY |
| Financial | Finance | Investment Managers | -5 | AMG, BEN, BLK, CNS, STT |
| Financial | Consumer Services | Real Estate Investment Trusts | -1 | OCN |
| Financial | Consumer Services | Real Estate Investment Trusts | -4 | CTRE, IIPR, MAA, MPW |
| Financial | Consumer Services | Other Consumer Services (Specialty) | -2 | ALLY, ICE |
| Financial | Finance | Property-Casualty Insurers | -4 | ESGR, FNF, PGR, STC |
| Financial | Finance | Real Estate | -1 | 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.
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