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 >> Was the recent rally since March 14 bottom a bear market rally? - April 22, 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 The stock market conditions continue to deteriorate this week - April 15, 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

Was the recent rally since March 14 bottom a bear market rally? - April 22, 2022

  • 7 views
What happen to the market this week?

The stock market conditions continue its downturn for the third consecutive week. 

IndexApr. 18-22
Nasdaq-2.63%
S&P 500-2.75%
Dow Jones-1.86%
Russell 2000-3.21%

There is no big news this week but the Federal Reserve is showing signs of taking more aggressive action like 0.5% interest rate hike in the next May meeting.

Was the recent rally a bear market rally?

The market indices also had its first significant pullback since the market bottom on Mar 14. It hasn't break the low on that day, but this rally since that day is now in question. More and more analysts are calling this a bear market rally.

2022 Mar 29 - Apr 22 Pullback
Nasdaq -12.42%
S&P 500 -7.97%
Dow Jones -4.52%
Russell 2000 -9.31%

Last week the big cap tech Tesla posted good earnings and forecasts than expected, but Netflix dropped big due to missed earnings and forecasts.

This week there will be more earnings report especially from big cap techs like MSFT, AAPL, GOOGL, and AMZN. This will move the market since these stocks account for a large weighting in the market indices.

What is the current support level?

All the indices fell further below its 50 days moving average. This is a bearish sign. 

  • NASDAQ - below its 50 days moving average line near 13800; current at 12839
  • S&P 500 - below its 50 days moving average line near 4420; current at 4271
  • DJIA - below its 50 days moving average line near 34400; current at 33811
  • RUSSELL 2000 - below its 50 days moving average line near 2025; current at 1940

Psychological levels

  • Nasdaq is now below 13000.
  • S&P 500 is now below 4300.
  • Dow Jones Industrial Average is now below 34000.
  • Small cap Russell 2000 is now below 2000.

Stock market breadth - Accumulation vs Distribution for this week:

AccumulationDistribution
#industry groups1364
#stocks70289

The market uptrend has deteriorated significantly as there continues to be more distribution than accumulation in recent weeks.

Which stocks from each industry group show strength?

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Enterprise) 1 ATEN
Technology Technology Computer Software: Prepackaged Software (Financial) 1 ACIW
Technology Technology EDP Services (Gaming) 1 EA
Technology Technology Computer Software: Prepackaged Software (Security) 1 VRNT
Technology Technology Electronic Components 1 SIMO
Technology Technology Computer Manufacturing 1 SMCI
Technology Technology EDP Services (Tech Services) 2 HCKT, IBM
Technology Technology Computer Software: Programming, Data Processing (Content) 1 TWTR
Retail Consumer Non-Durables Shoe Manufacturing 1 SHOO
Retail Capital Goods Auto Parts:O.E.M. (Equipment) 2 GNTX, MOD
Retail Consumer Non-Durables Package Goods/Cosmetics 2 KMB, PG
Retail Consumer Non-Durables Meat/Poultry/Fish 1 CALM
Retail Consumer Services Marine Transportation 1 XPOF
Retail Consumer Non-Durables Recreational Products/Toys 1 HAS
Retail Consumer Services Automotive Aftermarket (Parts) 1 MNRO
Retail Consumer Durables Automotive Aftermarket 1 AN
Retail Consumer Services RETAIL: Building Materials 1 BECN
Retail Consumer Services Clothing/Shoe/Accessory Stores 1 ONON
Retail Consumer Services Restaurants 1 BJRI
Retail Consumer Services Food Chains 2 MUSA, NGVC
Retail Consumer Non-Durables Farming/Seeds/Milling 1 VGR
Retail Transportation Air Freight/Delivery Services 3 AAL, DAL, UAL
Retail Consumer Non-Durables Food Distributors 1 UNFI
Industrial Consumer Durables Consumer Electronics/Appliances 1 AAON
Industrial Basic Industries Mining & Quarrying of Nonmetallic Minerals (No Fuels) 1 CRH
Industrial Capital Goods Tools/Hardware 1 SNA
Industrial Basic Industries Forest Products 1 WFG
Industrial Basic Industries Major Chemicals: Plastics 2 AVNT, DOW
Industrial Basic Industries Major Chemicals: Others 2 FOE, PX
Industrial Miscellaneous Business Services (Outsourcing) 1 ARMK
Industrial Technology Professional Services 1 TBI
Industrial Basic Industries Aluminum 2 IIIN, VMI
Industrial Basic Industries Paper 1 GPK
Industrial Transportation Trucking Freight/Courier Services 3 HTLD, LSTR, PTSI
Industrial Public Utilities Power Generation 1 GNE
Industrial Public Utilities Oil/Gas Transmission 1 SWX
Health Finance Specialty Insurers 2 HCSG, PINC
Health Health Care Major Pharmaceuticals 1 HALO
     
Commodities Energy Metal Fabrications 1 GEOS
Commodities Energy Oil & Gas Production (U.S.) 2 HPK, WTI
Financial Finance Major Banks (Midwest) 1 HBNC
Financial Finance Major Banks (Regional) 1 SIVB
Financial Finance Major Banks (West) 2 CVBF, WAL
Financial Miscellaneous Business Services 1 PAYA
Financial Finance Investment Bankers/Brokers/Service 1 PIPR
Financial Consumer Services Real Estate Investment Trusts 11 ACC, ADC, AMH, AVB, ELS, MGP, PEB, PLD, PSB, REXR, TRNO

Which stocks from each industry group show weakness?

Technology Technology Computer Software: Prepackaged Software (Special) -1 SPSC
Technology Technology Computer Software: Prepackaged Software (Database) -1 NEWR
Technology Technology Computer Software: Prepackaged Software (Design) -1 BSY
Technology Technology Computer Software: Prepackaged Software (Education/Media) -1 SPOT
Technology Technology Computer Software: Prepackaged Software (Enterprise) -9 AVYA, CDLX, DT, FRSH, SAP, SHOP, SUMO, TWLO, ZEN
Technology Technology Computer Software: Prepackaged Software (Financial) -2 COIN, FICO
Technology Technology EDP Services (Gaming) -1 SOHU
Technology Technology Computer Manufacturing -2 LOGI, TACT
Technology Technology Computer Communications Equipment -1 CAMP
Technology Technology EDP Services (Tech Services) -4 CDW, CTG, PRCH, PRFT
Technology Technology Semiconductors -4 LSCC, MXL, NVDA, SMTC
Technology Technology Semiconductors (Equip) -1 KLIC
Technology Technology Computer Software: Programming, Data Processing (Content) -9 ANGI, ATHM, DHX, FB, GOOG, GOOGL, MTCH, PINS, SNAP
Technology Technology EDP Services -1 SWCH
Technology Consumer Services Television Services -2 CABO, CMCSA
Technology Public Utilities Telecommunications Equipment (Integrated) -1 T
Retail Consumer Services Clothing/Shoe/Accessory Stores -1 GOOS
Retail Capital Goods Auto Parts:O.E.M. (Equipment) -2 HLLY, VC
Retail Consumer Services Other Consumer Services -3 CHGG, EDU, FC
Retail Consumer Non-Durables Package Goods/Cosmetics -6 EWCZ, HLF, IPAR, LFVN, NUS, REV
Retail Capital Goods Industrial Machinery/Components -2 OLED, SYNA
Retail Consumer Non-Durables Packaged Foods -1 ANDE
Retail Consumer Non-Durables Meat/Poultry/Fish -1 IBA
Retail Consumer Non-Durables Packaged Foods -1 FRPT
Retail Consumer Non-Durables Plastic Products -1 IRBT
Retail Consumer Services Hotels/Resorts (Gaming) -2 EBET, MCRI
Retail Consumer Services Consumer Electronics/Video Chains -2 IQ, NFLX
Retail Consumer Non-Durables Recreational Products/Toys, Motor Vehicles -3 AOUT, JOUT, NLS
Retail Consumer Services Marine Transportation -3 DIDI, EDR, WMG
Retail Miscellaneous Business Services -1 SABR
Retail Consumer Services Television Services -1 DIS
Retail Consumer Services Television Services -1 SSP
Retail Consumer Services Automotive Aftermarket (Parts) -1 PRTS
Retail Consumer Durables Automotive Aftermarket -2 CVNA, LAD
Retail Consumer Services RETAIL: Building Materials -1 TSCO
Retail Consumer Services Clothing/Shoe/Accessory Stores -5 AEO, BKE, CTRN, GPS, LULU
Retail Consumer Services Department/Specialty Retail Stores -2 FIVE, GO
Retail Consumer Services Other Specialty Stores -2 RH, SNBR
Retail Miscellaneous Business Services (Internet) -5 ETSY, JMIA, RENT, VIPS, W
Retail Consumer Services Other Specialty Stores (Leisure) -2 HZO, LESL
Retail Consumer Services Restaurants -4 LOCO, NATH, PTLO, RUTH
Retail Consumer Services Other Specialty Stores -1 RBA
Retail Technology Retail: Computer Software & Peripheral Equipment -1 SNX
Industrial Capital Goods Military/Government/Technical -1 HXL
Industrial Consumer Durables Building Products -3 GCP, GFF, SWIM
Industrial Capital Goods Engineering & Construction -2 AGX, PWR
Industrial Technology Advertising -1 CRTO
Industrial Miscellaneous Office Equipment/Supplies/Services -1 PBI
Industrial Technology Diversified Commercial Services -4 HRI, TGH, URI, WSC
Industrial Technology Industrial Machinery/Components -1 ROP
Industrial Consumer Durables Metal Fabrications -3 EVGO, GNRC, VLTA
Industrial Miscellaneous Industrial Machinery/Components -1 APH
Industrial Capital Goods Fluid Controls -3 BMI, DOV, ERII
Industrial Basic Industries Metal Fabrications -1 PKOH
Industrial Basic Industries Aluminum -3 ARNC, CENX, CMC
Industrial Basic Industries Environmental Services -1 CECE
Industrial Consumer Services Diversified Commercial Services -1 LAKE
Industrial Transportation Trucking Freight/Courier Services -2 XPO, ZTO
Industrial Consumer Services Marine Transportation -3 CMRE, EGLE, MATX
Industrial Transportation Trucking Freight/Courier Services -1 JBHT
Industrial Capital Goods Auto Manufacturing -1 SHYF
Industrial Basic Industries Electric Utilities: Central -3 AES, NEE, POR
Health Health Care Major Pharmaceuticals -18 ALKS, ALVR, ANIK, BEAM, BIIB, CARA, CDXS, CERS, CHRS, CORT, ESPR, EXAS, MYOV, RARE, RCKT, STRO, TRVN, VYGR
Health Health Care Major Pharmaceuticals (Diversified) -1 DHR
Health Health Care Major Pharmaceuticals (Ethical Drugs) -2 BHC, ENDP
Health Health Care Major Pharmaceuticals (Generic Drugs) -1 TARO
Health Health Care Hospital/Nursing Management -4 CYH, HCA, THC, UHS
Health Health Care Hospital/Nursing Management (Long term care) -1 ENSG
Health Health Care Medical/Nursing Services -2 ACHC, MD
Health Health Care Medical/Dental Instruments -16 ALGN, BSX, CDNA, CNMD, EW, GMED, HSKA, INGN, INSP, LMAT, NVCR, PEN, RGEN, SILK, SYK, TFX
Health Health Care Biotechnology: Commercial Physical & Biological Research -3 AVTR, DNAY, VCYT
Health Health Care Medical Specialities (Services) -2 BEAT, NVTA
Health Health Care Medical Specialities (Supplies) -1 WST
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus -6 AXNX, CUTR, INMD, ISRG, PACB, PLSE
Commodities Basic Industries Agricultural Chemicals -3 IPI, SMG, SQM
Commodities Energy Industrial Machinery/Components -7 AY, BEPC, CWEN, NEP, ORA, PLUG, REX
Commodities Energy Coal Mining -3 AMR, ARCH, METC
Commodities Technology Semiconductors (Solar) -5 ARRY, ENPH, NOVA, RUN, SHLS
Commodities Capital Goods Industrial Machinery/Components -1 ALG
Commodities Basic Industries Precious Metals -2 BVN, NEM
Commodities Basic Industries Precious Metals -5 AA, BHP, FCX, LAC, SCCO
Commodities Energy Oil & Gas Production: Drilling -1 VAL
Commodities Energy Oilfield Services/Equipment -2 HAL, NR
Commodities Energy Metal Fabrications -1 BKR
Commodities Energy Natural Gas Distribution -2 FLNG, OKE
Commodities Energy Oil & Gas Production (U.S.) -2 CPE, CRC
Commodities Basic Industries Steel/Iron Ore -2 CLF, GGB
Financial Finance Commercial Banks -1 SUPV
Financial Finance Major Banks (Midwest) -2 ASB, MBIN
Financial Finance Major Banks -3 BAC, GS, RY
Financial Finance Major Banks (Northeast) -4 CNOB, EGBN, MCB, SBNY
Financial Finance Major Banks (Southeast) -4 FBK, HWC, PNFP, TRMK
Financial Finance Major Banks (Regional) -4 CMA, FITB, PNC, TFC
Financial Finance Major Banks (West) -4 FHB, HTH, TBK, TCBI
Financial Capital Goods Homebuilding -3 DFH, HOV, MDC
Financial Finance Finance: Consumer Services -2 IX, YRD
Financial Miscellaneous Business Services -5 DLO, EVOP, EVRI, FLYW, PYPL
Financial Finance Investment Bankers/Brokers/Service -1 SCHW
Financial Finance Investment Managers -6 AB, BLK, BX, CNS, STEP, STT
Financial Consumer Services Real Estate Investment Trusts -1 GPMT
Financial Consumer Services Real Estate Investment Trusts -1 OCN
Financial Consumer Services Real Estate Investment Trusts -4 CRESY, CTRE, IIPR, MPW
Financial Finance Major Banks (Savings) -2 BKU, FBC
Financial Consumer Services Other Consumer Services (Specialty) -6 AMRK, ICE, NDAQ, PRAA, RIOT, VIRT
Financial Finance Property-Casualty Insurers -5 KMPR, SIGI, STC, TRV, Y
Financial Finance Real Estate -4 ASR, CBRE, FOR, MMI


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