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The stock market closed strong this week despite first rate hike - March 18, 2022

March 19, 2022
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market update

What happen to the market this week?

Nasdaq starts the week by making a new low on Monday, and then it rebound 4 days to close the week with significant gains.

Index	Mar. 14-18
Nasdaq	8.18%
S&P 500	6.16%
Dow Jones	5.50%
Russell 2000	5.38%

On Wednesday, the Federal Reserve announce the first rate hike this year of 25 basis points and also announce another 6 rate hikes this year. Despite that, the Fed also mentioned that recession risk is low and economy is strong. The stock market bounce higher to close that day strong.

What happens to stock market since Russia invade Ukraine?

What is the current support level?

Nasdaq bounced from the lows to above its 10 and 21 days moving average. It closed at the 50 days moving average. It will be interesting to see if it can overcome this level. If it does, it will be very bullish signal.

S&P 500 and DJIA rebounded to above its 10, 21 and 50 days moving average. That is impressive. It is now sitting near its 200 days moving average.

Russell 2000 also rebound strongly to above its 10, 21 and 50 days moving average.

NASDAQ - below its 50 days moving average line near 13880; current at 13893
S&P 500 - below its 50 days moving average line near 4430; current at 4463
DJIA - below its 50 days moving average line near 34500; current at 34754
RUSSELL 2000 - below its 50 days moving average line near 2040; current at 2086

Psychological levels

Nasdaq is now above13000.
S&P 500 is now above 4400.
Dow Jones Industrial Average is now above 34000.
Small cap Russell 2000 is now above 2000.

Stock market breadth - Accumulation vs Distribution for this week:

#industry groups 117 vs 7

#stocks 666 vs 45

The stock market is showing the highest level of accumulation since months ago.

Check out our course How to measure or calculate stock market breadth.

Which industry groups show strength?

There are so much accumulation this week in many sectors and industry groups. This is truly a sign of the broad market rally.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Special)	8	APP, CLVT, LSPD, MFGP, TEAM, TYL, YEXT, ZUO
Technology	Technology	Computer Software: Prepackaged Software (Database)	9	BOX, CFLT, CVLT, DBX, ESTC, MDB, ORCL, TDC, VRNS
Technology	Technology	Computer Software: Prepackaged Software (Design)	7	ADSK, ANSS, APPN, BSY, CDNS, SNPS, U
Technology	Technology	Computer Software: Prepackaged Software (Desktop)	1	PD
Technology	Technology	Computer Software: Prepackaged Software (Education/Media)	1	DUOL
Technology	Technology	Computer Software: Prepackaged Software (Enterprise)	27	AKAM, ATEN, BAND, BLKB, CDLX, CNXC, DOMO, EGHT, FIVN, FRSH, FSLY, GDDY, HCP, MNDY, NET, NTNX, PATH, PCOR, RNG, RXT, SNCR, SNOW, SPT, TWLO, WIX, ZI, ZM
Technology	Technology	Computer Software: Prepackaged Software (Financial)	4	ACIW, INTU, QTWO, SSNC
Technology	Technology	EDP Services (Gaming)	1	NTES
Technology	Technology	EDP Services (Medical)	4	AMWL, EVH, SLP, VEEV
Technology	Technology	Computer Software: Prepackaged Software (Security)	9	CRWD, KNBE, OKTA, PING, QLYS, RPD, S, SAIL, VRSN
Technology	Technology	Electronic Components	1	NTAP
Technology	Technology	Computer Manufacturing	1	HPQ
Technology	Technology	Computer Communications Equipment	4	ANET, DGII, EXTR, JNPR
Technology	Technology	EDP Services (Tech Services)	9	CTSH, DAVE, DXC, EPAM, GTLB, HCKT, HPE, INFY, UIS
Technology	Technology	Semiconductors	8	AMBA, AVGO, CEVA, MPWR, NVDA, RMBS, SITM, SMTC
Technology	Technology	Semiconductors (Equip)	12	ACLS, ASML, CCMP, COHR, ENTG, ICHR, KLAC, KLIC, LRCX, MKSI, NVMI, TER
Technology	Technology	Semiconductors (Manufacturing)	5	ADI, GFS, MCHP, POWI, UMC
Technology	Technology	Computer Software: Programming, Data Processing (Content)	12	ATHM, BIDU, BILI, BMBL, BZ, DOYU, HUYA, SFUN, TME, TWTR, WB, YY
Technology	Consumer Services	Television Services	2	CCOI, SJR
Technology	Public Utilities	Telecommunications Equipment (Foreign)	1	AMX
Technology	Public Utilities	Telecommunications Equipment (Integrated)	1	IDT
Technology	Public Utilities	Telecommunications Equipment (Wireless)	1	SHEN
Technology	Technology	Radio And Television Broadcasting And Communications Equipment	2	RFIL, SATS
Technology	Technology	Radio And Television Broadcasting And Communications Equipment	2	MSI, SONM
Technology	Consumer Durables	Telecommunications Equipment	1	VIAV
Technology	Technology	Radio And Television Broadcasting And Communications Equipment	2	COMM, GOGO

Retail	Consumer Services	Clothing/Shoe/Accessory Stores	9	FIGS, GIII, LEVI, OXM, PVH, TPR, UA, VFC, VRA
Retail	Consumer Non-Durables	Shoe Manufacturing	3	DECK, NKE, WWW
Retail	Capital Goods	Auto Manufacturing	4	KNDI, LI, NIO, TTM
Retail	Capital Goods	Auto Parts:O.E.M. (Equipment)	5	CPS, DAN, MGA, QS, WKHS
Retail	Capital Goods	Auto Parts:O.E.M. (Parts)	2	DORM, SMP
Retail	Consumer Durables	Automotive Aftermarket	1	TWI
Retail	Consumer Non-Durables	Beverages Alcoholic (Production/Distribution)	1	BUD
Retail	Consumer Non-Durables	Beverages Non-Alcoholic (Production/Distribution)	3	CCEP, CELH, FMX
Retail	Consumer Non-Durables	Consumer Electronics/Appliances	4	GRMN, HEAR, KOSS, UEIC
Retail	Consumer Services	Other Consumer Services	5	EDU, FC, LAUR, LOPE, TAL
Retail	Consumer Non-Durables	Package Goods/Cosmetics	2	EWCZ, IFF
Retail	Capital Goods	Industrial Machinery/Components	1	SYNA
Retail	Consumer Non-Durables	Packaged Foods (Dairy)	1	LWAY
Retail	Consumer Non-Durables	Meat/Poultry/Fish	2	CALM, IBA
Retail	Consumer Durables	Office Equipment/Supplies/Services	4	BSET, FLXS, HNI, SCS
Retail	Consumer Non-Durables	Plastic Products	2	COOK, VIOT
Retail	Consumer Services	Hotels/Resorts (Gaming)	3	IGT, MGM, SGMS
Retail	Consumer Services	Hotels/Resorts (Lodging)	1	WH
Retail	Consumer Services	Consumer Electronics/Video Chains	3	DLPN, FUBO, RDI
Retail	Consumer Non-Durables	Recreational Products/Toys, Motor Vehicles	4	DOOO, ESCA, FOXF, JOUT
Retail	Consumer Services	Marine Transportation	8	CAR, CUK, DIDI, EDR, MTN, NCLH, WMG, XPOF
Retail	Miscellaneous	Business Services	3	EXPE, SABR, VCSA
Retail	Consumer Services	Books	1	PSO
Retail	Consumer Services	Television Services	2	TV, WWE
Retail	Consumer Services	Newspapers/Magazines	2	NWS, NWSA
Retail	Consumer Services	Automotive Aftermarket (Parts)	5	AZO, CPRT, GPC, LKQ, ORLY
Retail	Consumer Durables	Automotive Aftermarket	5	CARS, CVNA, GPI, KMX, RUSHA
Retail	Consumer Services	RETAIL: Building Materials	4	BECN, FAST, GMS, LOW
Retail	Consumer Non-Durables	Consumer Specialties	2	BRLT, SIG
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	8	BKE, CAL, CTRN, DLTH, GES, LE, ONON, SCVL
Retail	Consumer Services	Department/Specialty Retail Stores	4	BIG, BJ, DG, GO
Retail	Consumer Services	Other Specialty Stores	4	AAN, HVT, LOVE, WSM
Retail	Miscellaneous	Business Services (Internet)	8	DASH, JD, JMIA, PDD, REAL, SSTK, TDUP, VIPS
Retail	Consumer Services	Other Specialty Stores (Leisure)	3	ASO, HIBB, LESL
Retail	Consumer Services	Department/Specialty Retail Stores	1	PSMT
Retail	Consumer Services	Restaurants	13	ARCO, BJRI, CBRL, DRI, MCD, NATH, NDLS, QSR, RRGB, SBUX, SG, WEN, YUM
Retail	Consumer Services	Other Specialty Stores	2	ULTA, WRBY
Retail	Consumer Services	Food Chains	2	MUSA, TA
Retail	Basic Industries	Package Goods/Cosmetics	1	ECL
Retail	Consumer Non-Durables	Farming/Seeds/Milling	1	VGR
Retail	Transportation	Air Freight/Delivery Services	10	AAL, ALGT, ALK, CPA, DAL, GOL, JBLU, LUV, SKYW, UAL
Retail	Technology	Retail: Computer Software & Peripheral Equipment	1	SNX

Industrial	Capital Goods	Military/Government/Technical	6	ASTR, HXL, JOBY, OSIS, TDG, TXT
Industrial	Consumer Durables	Consumer Electronics/Appliances	3	AAON, CARR, WSO
Industrial	Basic Industries	Mining & Quarrying of Nonmetallic Minerals (No Fuels)	2	CRH, SUM
Industrial	Consumer Durables	Building Products	11	APOG, AWI, AYI, BLDR, CNM, FBHS, FRTA, MAS, MWA, SPB, WMS
Industrial	Capital Goods	Tools/Hardware	1	SNA
Industrial	Capital Goods	Engineering & Construction	2	GVA, MTZ
Industrial	Finance	Diversified Commercial Services	3	EME, IBP, MYRG
Industrial	Industrial	Consumer Non-Durables	1	CVCO
Industrial	Basic Industries	Major Chemicals	3	CE, HUN, WLK
Industrial	Basic Industries	Paints/Coatings	1	PPG
Industrial	Basic Industries	Major Chemicals: Plastics	4	ASIX, AVNT, DOW, TG
Industrial	Basic Industries	Major Chemicals: Others	11	APD, ASH, BCPC, CC, FF, LIN, LTHM, SOI, TROX, UNVR, VVV
Industrial	Technology	Advertising	4	IPG, LAMR, OMC, TTGT
Industrial	Miscellaneous	Business Services	2	ICFI, STN
Industrial	Technology	Diversified Commercial Services	3	TRTN, UHAL, WSC
Industrial	Miscellaneous	Business Services (Market Research)	3	CSGP, FDS, NLSN
Industrial	Miscellaneous	Business Services (Outsourcing)	7	ADP, EXLS, HQY, NSP, TNET, TTEC, UNF
Industrial	Technology	Professional Services	7	ASGN, CCRN, KELYA, KFRC, KFY, TBI, ZIP
Industrial	Consumer Durables	Containers/Packaging	3	BERY, BLL, GEF
Industrial	Technology	Industrial Machinery/Components	5	BRK.B, CHE, CSL, HON, JCI
Industrial	Technology	Electrical Products	3	JBL, KE, SANM
Industrial	Capital Goods	Electrical Products	4	CGNX, IPGP, ITRI, NOVT
Industrial	Consumer Durables	Metal Fabrications	6	ABB, ENS, EVGO, FELE, VLTA, VRT
Industrial	Miscellaneous	Industrial Machinery/Components	6	APH, ARW, AVT, LASR, VSH, WCC
Industrial	Consumer Services	Other Consumer Services	1	SCI
Industrial	Capital Goods	Fluid Controls	6	BMI, CFX, ERII, ESE, IR, PNR
Industrial	Energy	Industrial Machinery/Components	2	DM, HOLI
Industrial	Capital Goods	Industrial Machinery/Components (Tools)	1	XYL
Industrial	Basic Industries	Metal Fabrications	2	RYI, ZEUS
Industrial	Basic Industries	Aluminum	4	MLI, RS, VMI, WOR
Industrial	Consumer Services	Office Equipment/Supplies/Services	3	AVY, BRC, DLX
Industrial	Basic Industries	Paper	5	IP, NP, PKG, VRTV, WRK
Industrial	Basic Industries	Environmental Services	5	CECE, CLH, DCI, GFL, WCN
Industrial	Consumer Services	Diversified Commercial Services	3	ITRN, REZI, RGR
Industrial	Transportation	Air Freight/Delivery Services	2	AAWW, UPS
Industrial	Capital Goods	Wholesale Distributors	1	TRN
Industrial	Transportation	Trucking Freight/Courier Services	1	XPO
Industrial	Consumer Services	Marine Transportation	4	CMRE, DAC, MATX, ZIM
Industrial	Transportation	Trucking Freight/Courier Services	3	HTLD, JBHT, KNX
Industrial	Capital Goods	Auto Manufacturing	2	CMI, OSK
Industrial	Public Utilities	Oil/Gas Transmission	1	SWX

Health	Finance	Specialty Insurers	1	HCSG
Health	Health Care	Major Pharmaceuticals	40	ACET, ALKS, ALVR, APLS, ARWR, ATRA, BGNE, BLI, BLUE, BNTX, CHRS, CRSP, DCPH, DVAX, EBS, EDIT, ESPR, FMTX, GMAB, HALO, HRMY, ICPT, INO, MRNA, NGM, NTLA, OCGN, QURE, RARE, REGN, RETA, RIGL, SAGE, SGMO, SRNE, STRO, TGTX, TRVN, TSVT, VYGR
Health	Health Care	Major Pharmaceuticals (Diversified)	3	DHR, JNJ, LLY
Health	Health Care	Major Pharmaceuticals (Ethical Drugs)	2	BMY, PFE
Health	Health Care	Major Pharmaceuticals (Generic Drugs)	1	RDY
Health	Health Care	Hospital/Nursing Management	1	SEM
Health	Health Care	Medical Specialities	5	AMEH, ANTM, CI, CNC, ONEM
Health	Health Care	Medical/Nursing Services	4	ACHC, FMS, LHCG, MD
Health	Health Care	Medical/Dental Instruments	8	CDNA, CNMD, DXCM, ICUI, LIVN, MDT, NVCR, SMLR
Health	Health Care	Biotechnology: Commercial Physical & Biological Research	5	AVTR, DNAY, FLGT, ICLR, SYNH
Health	Health Care	Medical Specialities (Services)	2	DGX, IRTC
Health	Health Care	Medical Specialities (Supplies)	1	WST
Health	Health Care	Biotechnology: Electromedical & Electrotherapeutic Apparatus	5	CUTR, FONR, MASI, OMCL, WAT
Health	Health Care	Other Pharmaceuticals	4	ABC, CAH, MCK, PETQ

Commodities	Consumer Services	Farming/Seeds/Milling	2	APPH, CTVA
Commodities	Basic Industries	Agricultural Chemicals	2	AVD, FMC
Commodities	Energy	Industrial Machinery/Components	5	CWEN, IEA, KEN, ORA, ORGN
Commodities	Energy	Coal Mining	1	CNX
Commodities	Technology	Semiconductors (Solar)	1	SHLS
Commodities	Capital Goods	Construction/Ag Equipment/Trucks	1	TEX
Commodities	Capital Goods	Industrial Machinery/Components	3	AGCO, DE, LNN
Commodities	Basic Industries	Precious Metals	1	FCX
Commodities	Energy	Oilfield Services/Equipment	1	MTRX
Commodities	Energy	Oil & Gas Production (Royalty Trust)	1	TPL
Commodities	Energy	Natural Gas Distribution	1	GLNG
Commodities	Basic Industries	Steel/Iron Ore	1	STLD

Financial	Finance	Commercial Banks	3	BAP, CM, SHG
Financial	Finance	Major Banks (Midwest)	1	HBNC
Financial	Finance	Major Banks	6	BCS, DB, MS, SAN, SMFG, UBS
Financial	Finance	Major Banks (Northeast)	2	EGBN, LBAI
Financial	Finance	Major Banks (Southeast)	8	FBK, FBNC, FBP, HWC, OZK, SBCF, SMMF, SNV
Financial	Finance	Major Banks (Regional)	4	CMA, NTRS, PNC, USB
Financial	Finance	Major Banks (West)	5	EWBC, FHB, PPBI, TBK, VBTX
Financial	Capital Goods	Homebuilding	3	DFH, LEN, NVR
Financial	Finance	Finance: Consumer Services	4	ATLC, FCFS, SLM, YRD
Financial	Miscellaneous	Business Services	12	AFRM, AXP, DFS, DLO, EVTC, FLYW, FOUR, MQ, PAGS, PAYA, SQ, STNE
Financial	Finance	Investment Bankers/Brokers/Service	8	AMP, CS, FUTU, HOOD, LAZ, OPY, SCHW, TIGR
Financial	Finance	Investment Managers	13	AB, AMG, APAM, ARES, BX, CNS, FOCS, IVZ, JHG, MN, NOAH, TPVG, TROW
Financial	Consumer Services	Real Estate Investment Trusts	2	LADR, STWD
Financial	Consumer Services	Real Estate Investment Trusts	1	UWMC
Financial	Consumer Services	Real Estate Investment Trusts	12	AIV, AMT, CTRE, CXW, IIPR, LSI, NSA, PEB, PLD, REXR, SLG, TRNO
Financial	Finance	Major Banks (Savings)	4	BKU, CASH, FFBC, PBCT
Financial	Consumer Services	Other Consumer Services (Specialty)	9	ALLY, DFIN, FRG, HRB, HUT, NAVI, PRAA, TRU, TW
Financial	Finance	Accident &Health Insurance	2	CNO, TRUP
Financial	Finance	Specialty Insurers	4	AON, BRP, ERIE, MMC
Financial	Finance	Property-Casualty Insurers (Diversified)	3	HIG, MFC, PFG
Financial	Finance	Life Insurance	5	AEL, BHF, LNC, MET, PRU
Financial	Finance	Property-Casualty Insurers	13	AGO, CINF, FAF, FNF, GSHD, HRTG, LMND, MHLD, MKL, THG, TRV, WRB, Y
Financial	Finance	Real Estate	8	ASR, CBRE, JLL, KW, MMI, OPEN, RDFN, TCN

Which industry groups show weakness this week?

Technology	Technology	Computer Software: Prepackaged Software (Security)	-1	TUFN
Technology	Public Utilities	Telecommunications Equipment (Integrated)	-1	VZ
Retail	Consumer Non-Durables	Package Goods/Cosmetics	-2	CL, USNA
Retail	Consumer Services	Catalog/Specialty Distribution	-2	DOLE, LNDC
Retail	Consumer Non-Durables	Packaged Foods	-1	SJM
Retail	Consumer Services	Marine Transportation	-1	FXLV
Retail	Miscellaneous	Business Services	-1	SOND
Retail	Consumer Services	Television Services	-1	VIA
Retail	Consumer Services	Automotive Aftermarket (Parts)	-1	MNRO
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	-1	CATO
Retail	Consumer Services	Restaurants	-1	GTIM
Industrial	Capital Goods	Military/Government/Technical	-1	HII
Industrial	Capital Goods	Engineering & Construction	-2	HIL, ROAD
Industrial	Basic Industries	Major Chemicals: Others	-1	CNEY
Industrial	Public Utilities	Power Generation	-3	AVA, CPK, NWE
Health	Health Care	Major Pharmaceuticals	-1	ACOR
Health	Health Care	Medical/Dental Instruments	-1	IART
Commodities	Consumer Services	Farming/Seeds/Milling	-1	BG
Commodities	Basic Industries	Precious Metals	-2	AU, BVN
Commodities	Energy	Oilfield Services/Equipment	-1	CLB
Commodities	Energy	Integrated oil Companies	-1	XOM
Commodities	Energy	Metal Fabrications	-1	GEOS
Commodities	Energy	Natural Gas Distribution	-1	HESM
Financial	Finance	Major Banks (Midwest)	-1	BY
Financial	Finance	Major Banks (Northeast)	-1	HONE
Financial	Finance	Major Banks (Southeast)	-1	UCBI
Financial	Finance	Major Banks (West)	-6	COLB, CVBF, FFWM, FIBK, FINW, HMST
Financial	Finance	Investment Bankers/Brokers/Service	-1	PWP
Financial	Consumer Services	Real Estate Investment Trusts	-1	ABR
Financial	Consumer Services	Real Estate Investment Trusts	-2	ATAX, RDN
Financial	Consumer Services	Real Estate Investment Trusts	-1	CPT
Financial	Finance	Major Banks (Savings)	-1	NWBI
Financial	Finance	Specialty Insurers	-1	RYAN

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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