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Was the recent rally since March 14 bottom a bear market rally? - April 22, 2022
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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
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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Was the recent rally since March 14 bottom a bear market rally? - April 22, 2022
What happen to the market this week?
The stock market conditions continue its downturn for the third consecutive week.
| Index | Apr. 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:
| Accumulation | Distribution | |
| #industry groups | 13 | 64 |
| #stocks | 70 | 289 |
The market uptrend has deteriorated significantly 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 (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.
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