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Research >> MCBOSS CAPITAL >> Stock market news today 2022 >> The stock market conditions continue to deteriorate this week - April 15, 2022
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The stock market conditions continue to deteriorate this week - April 15, 2022

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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.

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


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