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Research >> MCBOSS CAPITAL >> Stock market news today 2022 >> The stock market show signs of improvements - June 24, 2022
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The stock market show signs of improvements - June 24, 2022

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What happen to the market this week?

The stock market show signs of improvements this week as the major indices were able to make huge gains. There weren't much market news other than the Federal Reserve testimonial.

Index Jun. 20 - 24
Nasdaq 7.49%
S&P 500 6.45%
Dow Jones 5.39%
Russell 2000 6.01%

Have we hit the bottom of the bear market or is this just another bear market rally? They are strong signs of accumulation as shown later in this article. It will be prudent for this momentum to continue the following week. 

2021-2022 Correction
Nasdaq (since Nov 22, 2021 to June 16, 2022) -34.83%
S&P 500 (since Jan 4, 2022 to June 17, 2022) -24.52%
Dow Jones (since Jan 5, 2022 to June 17, 2022) -19.75%
Russell 2000 (since Nov 8, 2021 to June 16, 2022) -33.24%


What is the current support level?

All the general market indices made impressive gains and climb above its 10 and 21 days moving average. This is bullish sign. The next challenge will be to climb above its 50 days moving average.

  • NASDAQ - below its 50 days moving average line near 12500; current at 11607
  • S&P 500 - below its 50 days moving average line near 4200; current at 3911
  • DJIA - below its 50 days moving average line near 33200; current at 31500
  • RUSSELL 2000 - below its 50 days moving average line near 1900; current at 1720

Psychological levels

  • Nasdaq is now above 11000.
  • S&P 500 is now below 3900.
  • Dow Jones Industrial Average is now above 31000.
  • Small cap Russell 2000 is now above 1700.

Stock market breadth - Accumulation vs Distribution for this week:

AccumulationDistribution
#industry groups9226
#stocks505151

We saw strong signals of accumulation this week. This is a good sign for the market.

Which stocks from each industry group show strength?

There are so much more accumulation this week than distribution.

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Special) 6 AI, APP, DV, JAMF, SPSC, ZUO
Technology Technology Computer Software: Prepackaged Software (Database) 10 AYX, BOX, CFLT, CVLT, ESTC, MNTV, PRGS, SPLK, TDC, WK
Technology Technology Computer Software: Prepackaged Software (Design) 5 ANSS, BSY, CDNS, SNPS, U
Technology Technology Computer Software: Prepackaged Software (Desktop) 3 ADBE, CRNC, PD
Technology Technology Computer Software: Prepackaged Software (Education/Media) 2 DUOL, TWOU
Technology Technology Computer Software: Prepackaged Software (Enterprise) 26 BAND, BB, BRZE, CDLX, CXM, DOCU, DOMO, ECOM, FROG, FSLY, LAW, PATH, PCTY, PLTR, RNG, SMAR, SNOW, SPT, TWLO, UPLD, WDAY, WKME, YMM, ZEN, ZI, ZM
Technology Technology Computer Software: Prepackaged Software (Financial) 5 ACIW, BCOR, COIN, INTU, JKHY
Technology Technology EDP Services (Gaming) 2 PLTK, RBLX
Technology Technology EDP Services (Medical) 8 AMWL, CHNG, DH, DOCS, EVH, PRVA, SGFY, VEEV
Technology Technology Computer Software: Prepackaged Software (Security) 7 CMCM, IRNT, PANW, QLYS, RPD, S, TUFN
Technology Technology Electronic Components 1 PSTG
Technology Technology Computer Manufacturing 2 DELL, LOGI
Technology Technology EDP Services (Integrated System) 3 AGYS, NCR, PAR
Technology Technology Computer Communications Equipment 2 DGII, EXTR
Technology Technology EDP Services (Tech Services) 6 ACN, GTLB, IBM, PRFT, RAMP, TWKS
Technology Technology Semiconductors 1 LSCC
Technology Technology Semiconductors (Equip) 5 ACLS, CCMP, ENTG, FORM, TER
Technology Technology Computer Software: Programming, Data Processing (Content) 7 BMBL, BZ, FENG, IAC, KIND, PINS, YELP
Technology Consumer Services Television Services 2 CCOI, SJR
Technology Public Utilities Telecommunications Equipment (Foreign) 1 RCI
Technology Public Utilities Telecommunications Equipment (Wireless) 2 SHEN, TMUS
Technology Technology Radio And Television Broadcasting And Communications Equipment 1 ADTN
Technology Technology Radio And Television Broadcasting And Communications Equipment 1 VOXX
Technology Consumer Durables Telecommunications Equipment 2 CIEN, CLFD
Technology Technology Radio And Television Broadcasting And Communications Equipment 3 DY, ERIC, UI
Retail Consumer Services Clothing/Shoe/Accessory Stores 4 FIGS, HBI, OXM, VFC
Retail Consumer Non-Durables Shoe Manufacturing 1 DECK
Retail Capital Goods Auto Manufacturing 5 LCID, LI, NIO, TSLA, XPEV
Retail Capital Goods Auto Parts:O.E.M. (Equipment) 3 QS, TSP, WKHS
Retail Capital Goods Auto Parts:O.E.M. (Parts) 2 DORM, SMP
Retail Consumer Non-Durables Beverages Alcoholic (Production/Distribution) 2 MGPI, SAM
Retail Consumer Non-Durables Beverages Non-Alcoholic (Production/Distribution) 1 KOF
Retail Consumer Non-Durables Consumer Electronics/Appliances 1 UEIC
Retail Consumer Services Other Consumer Services 5 BFAM, CHGG, FC, LOPE, LRN
Retail Consumer Non-Durables Package Goods/Cosmetics 8 ELF, HNST, OLPX, PBH, REV, SKIN, USNA, WTW
Retail Consumer Non-Durables Specialty Foods 1 TR
Retail Consumer Non-Durables Meat/Poultry/Fish 3 BYND, CALM, SAFM
Retail Consumer Services Catalog/Specialty Distribution 3 CHEF, CVGW, LNDC
Retail Consumer Non-Durables Packaged Foods 9 BGS, CPB, GIS, JJSF, K, LANC, LW, STKL, UTZ
Retail Consumer Durables Office Equipment/Supplies/Services 3 BSET, FLXS, TPX
Retail Consumer Non-Durables Plastic Products 4 COOK, NWL, VIOT, WEBR
Retail Consumer Services Hotels/Resorts (Gaming) 4 CHDN, CZR, IGT, LVS
Retail Consumer Services Hotels/Resorts (Lodging) 1 HTHT
Retail Consumer Services Consumer Electronics/Video Chains 3 CURI, IMAX, ROKU
Retail Consumer Non-Durables Recreational Products/Toys, Motor Vehicles 2 FOXF, JOUT
Retail Consumer Services Marine Transportation 6 CCL, CUK, FXLV, MSGS, NCLH, PLNT
Retail Consumer Non-Durables Recreational Products/Toys 1 FNKO
Retail Miscellaneous Business Services 1 DESP
Retail Consumer Services Books 1 PSO
Retail Consumer Services Automotive Aftermarket (Parts) 2 AZO, MNRO
Retail Consumer Durables Automotive Aftermarket 6 ABG, CARS, CRMT, DRVN, KMX, VRM
Retail Consumer Services RETAIL: Building Materials 2 FND, SITE
Retail Consumer Services Clothing/Shoe/Accessory Stores 3 CATO, LE, ROST
Retail Consumer Services Consumer Electronics/Video Chains 1 CONN
Retail Consumer Services Department/Specialty Retail Stores 2 BJ, GO
Retail Health Care Medical/Nursing Services 1 RAD
Retail Consumer Services Other Specialty Stores 1 LZB
Retail Miscellaneous Business Services (Internet) 7 AMZN, BABA, CHWY, EBAY, PDD, REAL, RENT
Retail Consumer Services Other Specialty Stores (Leisure) 4 ASO, DTC, SPWH, WINA
Retail Consumer Services Restaurants 9 BJRI, DNUT, DRI, KRUS, NATH, QSR, RRGB, WEN, WING
Retail Consumer Services Food Chains 1 CASY
Retail Basic Industries Package Goods/Cosmetics 2 CHD, CLX
Retail Consumer Non-Durables Farming/Seeds/Milling 1 BTI
Retail Transportation Air Freight/Delivery Services 2 CPA, SAVE
Retail Consumer Non-Durables Food Distributors 2 PFGC, USFD
Industrial Capital Goods Military/Government/Technical 4 AJRD, JOBY, MRCY, SPR
Industrial Consumer Durables Building Products 2 APOG, MWA
Industrial Capital Goods Engineering & Construction 1 ACM
Industrial Finance Diversified Commercial Services 1 EME
Industrial Industrial Consumer Non-Durables 1 WGO
Industrial Basic Industries Paints/Coatings 2 PPG, RPM
Industrial Basic Industries Major Chemicals: Others 4 APD, BCPC, LIN, WDFC
Industrial Miscellaneous Business Services 2 MMS, RGP
Industrial Technology Diversified Commercial Services 1 AL
Industrial Miscellaneous Business Services (Market Research) 4 CSGP, FDS, SPGI, TRI
Industrial Miscellaneous Business Services (Outsourcing) 2 EXLS, TNET
Industrial Technology Professional Services 4 BBSI, HSII, KFY, UPWK
Industrial Consumer Durables Containers/Packaging 3 BERY, GEF, SEE
Industrial Technology Industrial Machinery/Components 2 CHE, MDU
Industrial Technology Electrical Products 2 FN, KE
Industrial Capital Goods Electrical Products 4 IPGP, ITRI, KEYS, NOVT
Industrial Consumer Durables Metal Fabrications 1 FELE
Industrial Consumer Services Other Consumer Services 1 CSV
Industrial Capital Goods Fluid Controls 2 BMI, ESE
Industrial Energy Industrial Machinery/Components 2 DDD, PRLB
Industrial Capital Goods Industrial Machinery/Components (Tools) 1 XYL
Industrial Basic Industries Metal Fabrications 1 PKOH
Industrial Basic Industries Aluminum 1 WOR
Industrial Consumer Services Office Equipment/Supplies/Services 1 DLX
Industrial Basic Industries Environmental Services 2 TTEK, WM
Industrial Consumer Services Diversified Commercial Services 5 BCO, ITRN, NSSC, RGR, SWBI
Industrial Transportation Air Freight/Delivery Services 1 FDX
Industrial Transportation Railroads 1 CP
Industrial Transportation Trucking Freight/Courier Services 1 USAK
Industrial Public Utilities Power Generation 1 AEE
Industrial Basic Industries Electric Utilities: Central 2 AES, PNM
Health Finance Specialty Insurers 1 PINC
Health Health Care Major Pharmaceuticals 51 AERI, ALNY, AMGN, APLS, ARVN, ARWR, ATRA, BEAM, BGNE, BIIB, BLI, BMRN, CHRS, CYTK, DCPH, EDIT, EPZM, EXAS, EXEL, FATE, FMTX, GILD, HALO, HRMY, HRTX, HZNP, INCY, INO, INSM, IONS, LEGN, LGND, NGM, NKTR, NTLA, OCGN, PBYI, QURE, RCKT, RGNX, RPRX, SGEN, SGMO, SRNE, SRPT, TSVT, TWST, UTHR, VERV, VNDA, VRTX
Health Health Care Major Pharmaceuticals (Diversified) 3 ABT, JNJ, LLY
Health Health Care Major Pharmaceuticals (Ethical Drugs) 3 ABBV, MRK, NVO
Health Health Care Major Pharmaceuticals (Generic Drugs) 1 PRGO
Health Health Care Hospital/Nursing Management 1 SEM
Health Health Care Medical Specialities 7 AMEH, CI, CNC, HUM, ONEM, PGNY, UNH
Health Health Care Medical/Nursing Services 4 ADUS, AHCO, EHC, MD
Health Health Care Medical/Dental Instruments 12 ABMD, ALGN, CDNA, INGN, INSP, MDXG, NARI, NEOG, NVCR, QGEN, RMD, VIVO
Health Health Care Biotechnology: Commercial Physical & Biological Research 7 A, IQV, MEDP, MYGN, SYNH, TECH, VCYT
Health Health Care Medical Specialities (Services) 6 GH, LH, ME, NEO, OPCH, TVTY
Health Health Care Medical Specialities (Supplies) 1 IVC
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus 4 AXNX, BRKR, HAE, PACB
Health Health Care Other Pharmaceuticals 4 ABC, CAH, MCK, OMI
Commodities Consumer Services Farming/Seeds/Milling 1 APPH
Commodities Energy Industrial Machinery/Components 3 BEPC, BLNK, CWEN
Commodities Technology Semiconductors (Solar) 4 DQ, ENPH, FSLR, NOVA
Commodities Energy Natural Gas Distribution 1 FLNG
Financial Finance Major Banks (Midwest) 4 BY, HBNC, UMBF, WTFC
Financial Finance Major Banks 4 BK, HSBC, SMFG, WFC
Financial Finance Major Banks (Northeast) 2 EGBN, TBBK
Financial Finance Major Banks (Southeast) 7 AUB, FCNCA, FHN, SBCF, SMMF, SSB, UCBI
Financial Finance Major Banks (West) 7 BANR, CVBF, EWBC, FIBK, GBCI, PB, TCBI
Financial Finance Finance: Consumer Services 1 WD
Financial Finance Finance: Consumer Services 5 ATLC, COF, ENVA, FCFS, WRLD
Financial Miscellaneous Business Services 8 AFRM, DFS, EVOP, FLYW, GDOT, GPN, PAYA, PYPL
Financial Finance Investment Bankers/Brokers/Service 5 COWN, FUTU, HLI, MKTX, TIGR
Financial Finance Investment Managers 9 APAM, APO, CNS, DHIL, FOCS, IVZ, JHG, STEP, VRTS
Financial Consumer Services Real Estate Investment Trusts 1 LADR
Financial Consumer Services Real Estate Investment Trusts 3 ATAX, OCN, RKT
Financial Consumer Services Real Estate Investment Trusts 13 ADC, AIV, AMT, CUBE, ELS, MAA, NNN, NSA, ROIC, SUI, TRNO, UDR, WPC
Financial Finance Major Banks (Savings) 1 NWBI
Financial Consumer Services Other Consumer Services (Specialty) 7 AMRK, DFIN, ECPG, NAVI, NDAQ, PRAA, TW
Financial Finance Specialty Insurers 4 AON, ERIE, MMC, SLQT
Financial Finance Property-Casualty Insurers (Diversified) 2 AIG, PLMR
Financial Finance Property-Casualty Insurers 1 GL
Financial Finance Real Estate 7 ACGL, GSHD, HCI, HMN, PGR, SIGI, XL
Financial Finance 5 BEKE, CBRE, JLL, KW, NMRK



Which stocks from each industry group show weakness?

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Special) -1 MFGP
Technology Technology Computer Software: Prepackaged Software (Enterprise) -1 AVYA
Technology Technology Computer Software: Prepackaged Software (Security) -1 FTNT
Technology Technology Computer Manufacturing -1 SMCI
Technology Technology Computer Communications Equipment -1 CAMP
Technology Technology Computer Software: Programming, Data Processing (Content) -1 DHX
Technology Public Utilities Telecommunications Equipment (Foreign) -1 TEO
Retail Consumer Non-Durables Shoe Manufacturing -1 BIRD
Retail Capital Goods Auto Manufacturing -1 PTRA
Retail Consumer Non-Durables Beverages Non-Alcoholic (Production/Distribution) -1 NBEV
Retail Consumer Services Other Consumer Services -1 SKIL
Retail Consumer Non-Durables Packaged Foods -1 HAIN
Retail Consumer Services Marine Transportation -1 UP
Retail Miscellaneous Business Services -1 SOND
Retail Consumer Services Clothing/Shoe/Accessory Stores -1 SCVL
Retail Consumer Services Department/Specialty Retail Stores -1 KSS
Retail Miscellaneous Business Services (Internet) -1 TDUP
Retail Consumer Services Other Specialty Stores (Leisure) -1 BBW
Retail Consumer Services Restaurants -1 NDLS
Retail Consumer Services Food Chains -1 CBD
Industrial Capital Goods Military/Government/Technical -3 ASTR, RADA, RKLB
Industrial Consumer Durables Building Products -1 ATKR
Industrial Basic Industries Major Chemicals: Others -3 FF, SLCA, UNVR
Industrial Technology Advertising -2 PUBM, QNST
Industrial Technology Professional Services -1 ZIP
Industrial Consumer Durables Containers/Packaging -1 SLVM
Industrial Capital Goods Electrical Products -1 CYBE
Industrial Consumer Durables Metal Fabrications -1 EVGO
Industrial Capital Goods Fluid Controls -1 MNTX
Industrial Basic Industries Aluminum -1 SCHN
Industrial Basic Industries Environmental Services -2 ARIS, TISI
Industrial Consumer Services Diversified Commercial Services -1 YOU
Industrial Consumer Services Marine Transportation -8 CMRE, DAC, DSX, EGLE, GNK, GOGL, NMM, SBLK
Industrial Capital Goods Auto Manufacturing -1 CVGI
Industrial Public Utilities Oil/Gas Transmission -1 EE
Health Health Care Major Pharmaceuticals -3 PRDS, RIGL, SAGE
Health Health Care Medical/Nursing Services -1 DVA
Health Health Care Medical/Dental Instruments -1 ZIMV
Health Health Care Biotechnology: Commercial Physical & Biological Research -1 DNAY
Commodities Consumer Services Farming/Seeds/Milling -2 BG, DAR
Commodities Basic Industries Agricultural Chemicals -4 CF, LXU, MOS, NTR
Commodities Energy Industrial Machinery/Components -3 GPRE, KEN, ORGN
Commodities Energy Coal Mining -3 AMR, HCC, METC
Commodities Technology Semiconductors (Solar) -1 SHLS
Commodities Capital Goods Industrial Machinery/Components -1 AGCO
Commodities Basic Industries Precious Metals -2 GOLD, KGC
Commodities Basic Industries Precious Metals -5 FCX, PLL, SCCO, TECK, VALE
Commodities Energy Oil & Gas Production (Canada) -3 CNQ, ERF, VET
Commodities Energy Oil & Gas Production: Drilling -2 CHX, VAL
Commodities Energy Oilfield Services/Equipment -7 HAL, HLX, NR, OIS, PFHC, PUMP, SLB
Commodities Energy Integrated oil Companies -7 CVX, EC, MRO, NFE, PBR, PTR, YPF
Commodities Energy Oil & Gas Production (International) -3 COP, HES, MUR
Commodities Energy Metal Fabrications -3 BKR, FTI, WFRD
Commodities Energy Integrated oil Companies -10 DINO, DK, GEL, MPC, PARR, PBF, PSX, TRGP, UGP, VLO
Commodities Energy Oil & Gas Production (Royalty Trust) -2 PBT, SBR
Commodities Energy Natural Gas Distribution -3 ASC, DCP, TNK
Commodities Energy Oil & Gas Production (U.S.) -22 CDEV, CIVI, CPE, CRK, DVN, ESTE, FANG, GPOR, LPI, MGY, MNRL, MTDR, NOG, OAS, PDCE, ROCC, SBOW, SD, SM, VNOM, WLL, WTI
Commodities Basic Industries Steel/Iron Ore -1 MT
Financial Finance Commercial Banks -3 BMA, BSMX, GGAL
Financial Finance Major Banks (Northeast) -1 LBAI
Financial Finance Major Banks (West) -2 ABTX, VBTX
Financial Finance Finance: Consumer Services -1 COOP
Financial Finance Investment Managers -2 PX, WHG
Financial Consumer Services Other Consumer Services (Specialty) -1 NRDS
Financial Finance Life Insurance -1 JXN
Financial Finance -2 HRTG, UIHC




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