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This has been a disappointing week for the stock market - July 1, 2022
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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
Was the recent rally since March 14 bottom a bear market rally? - April 22, 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
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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This has been a disappointing week for the stock market - July 1, 2022
What happen to the market this week?
After previous week's big gains, this has been a disappointing week for the stock market. One would have hope the market can follow through on a back to back week. All the major indices found resistance near its 10 week moving average. This is a reminder that we are still in a bear market unless proven otherwise. There weren't much market news other than the Personal Consumer Expenditure which comes in slightly better than expected.
Second quarter earnings season is starting. Micron pull the whole semiconductor group down after it gave weak guidance for the rest of the year.
This week the major indices gave back some of previous week's gains.
| Index | Jul. 1 |
| Nasdaq | -4.13% |
| S&P 500 | -2.21% |
| Dow Jones | -1.28% |
| Russell 2000 | -2.15% |
What is the current support level?
Nasdaq and DJIA found resistance at the 10 week moving average. This is a bearish sign. S&P 500 and Russell 2000 also found resistance near its 10 week moving average.
- NASDAQ - below its 50 days moving average line near 12500; current at 11127
- S&P 500 - below its 50 days moving average line near 4200; current at 3825
- DJIA - below its 50 days moving average line near 33200; current at 31097
- RUSSELL 2000 - below its 50 days moving average line near 1900; current at 1727
Psychological levels
- Nasdaq is now above 11000.
- S&P 500 is now below 3900.
- Dow Jones Industrial Average is above 31000.
- Small cap Russell 2000 is above 1700.
Stock market breadth - Accumulation vs Distribution for this week:
| Accumulation | Distribution | |
| #industry groups | 23 | 29 |
| #stocks | 97 | 143 |
Distribution picked up this week more than accumulation.
Check out our course How to measure or calculate stock market breadth.
Which stocks from each industry group show strength?
There is little accumulation this week.
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | Computer Software: Prepackaged Software (Education/Media) | 1 | TWOU |
| Technology | Technology | EDP Services (Integrated System) | 1 | AGYS |
| Technology | Technology | Computer Software: Programming, Data Processing (Content) | 3 | ATHM, TME, WB |
| Technology | Technology | EDP Services | 1 | TCX |
| Technology | Public Utilities | Telecommunications Equipment (Wireless) | 1 | VG |
| Retail | Capital Goods | Auto Parts:O.E.M. (Equipment) | 1 | TEN |
| Retail | Consumer Services | Other Consumer Services | 3 | FC, LRN, TEDU |
| Retail | Consumer Non-Durables | Package Goods/Cosmetics | 2 | ELF, PBH |
| Retail | Consumer Services | Catalog/Specialty Distribution | 1 | APRN |
| Retail | Consumer Non-Durables | Packaged Foods | 2 | CAG, GIS |
| Retail | Consumer Services | Hotels/Resorts (Gaming) | 1 | LVS |
| Retail | Consumer Services | Hotels/Resorts (Lodging) | 1 | HTHT |
| Retail | Miscellaneous | Business Services | 1 | TCOM |
| Retail | Consumer Services | RETAIL: Building Materials | 1 | GMS |
| Retail | Consumer Services | Restaurants | 1 | YUMC |
| Retail | Consumer Services | Other Specialty Stores | 1 | RBA |
| Retail | Consumer Non-Durables | Farming/Seeds/Milling | 1 | UVV |
| Retail | Transportation | Air Freight/Delivery Services | 1 | SNCY |
| Industrial | Capital Goods | Military/Government/Technical | 1 | MRCY |
| Industrial | Consumer Durables | Consumer Electronics/Appliances | 2 | FIX, LII |
| Industrial | Consumer Durables | Building Products | 3 | AYI, PGTI, WMS |
| Industrial | Finance | Diversified Commercial Services | 1 | MYRG |
| Industrial | Basic Industries | Major Chemicals: Others | 2 | BCPC, OEC |
| Industrial | Miscellaneous | Business Services | 1 | CBZ |
| Industrial | Miscellaneous | Business Services (Outsourcing) | 1 | UNF |
| Industrial | Technology | Professional Services | 3 | CCRN, KFRC, KFY |
| Industrial | Technology | Industrial Machinery/Components | 1 | OTTR |
| Industrial | Capital Goods | Fluid Controls | 2 | DXPE, MTD |
| Industrial | Basic Industries | Paper | 1 | GPK |
| Industrial | Public Utilities | Power Generation | 5 | AEE, AVA, CPK, GNE, WEC |
| Industrial | Basic Industries | Electric Utilities: Central | 3 | EBR, ETR, POR |
| Health | Health Care | Major Pharmaceuticals | 6 | AERI, ATRA, BNTX, LEGN, STRO, VNDA |
| Health | Health Care | Major Pharmaceuticals (Ethical Drugs) | 2 | ENDP, GRFS |
| Health | Health Care | Major Pharmaceuticals (Generic Drugs) | 1 | TEVA |
| Health | Health Care | Medical Specialities | 3 | ANTM, HUM, UNH |
| Health | Health Care | Medical/Dental Instruments | 3 | CNMD, QGEN, VIVO |
| Health | Health Care | Medical Specialities (Supplies) | 1 | PDCO |
| Health | Health Care | Biotechnology: Electromedical & Electrotherapeutic Apparatus | 1 | HAE |
| Commodities | Energy | Industrial Machinery/Components | 1 | ORA |
| Commodities | Technology | Coal Mining | 2 | DQ, JKS |
| Commodities | Basic Industries | Industrial Machinery/Components | 1 | AGI |
| Commodities | Energy | Oilfield Services/Equipment | 1 | WMB |
| Commodities | Energy | Integrated oil Companies | 1 | OXY |
| Commodities | Energy | Oil & Gas Production (International) | 1 | DRQ |
| Commodities | Energy | Metal Fabrications | 1 | NS |
| Commodities | Energy | Oil & Gas Production (Royalty Trust) | 3 | EPD, OKE, PBFX |
| Financial | Finance | Major Banks | 2 | HONE, TBBK |
| Financial | Finance | Major Banks (Northeast) | 1 | AUB |
| Financial | Finance | Major Banks (Regional) | 2 | BANR, COLB |
| Financial | Capital Goods | Major Banks (West) | 2 | DFH, MDC |
| Financial | Consumer Services | Real Estate Investment Trusts | 1 | RDN |
| Financial | Consumer Services | Real Estate Investment Trusts | 6 | ARE, CTRE, EPRT, ESS, MPW, NNN |
| Financial | Finance | Property-Casualty Insurers (Diversified) | 2 | BHF, GL |
| Financial | Finance | Life Insurance | 3 | FAF, KNSL, SIGI |
Which stocks from each industry group show weakness?
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | Computer Software: Prepackaged Software (Special) | -1 | DCT |
| Technology | Technology | Computer Software: Prepackaged Software (Database) | -1 | PRGS |
| Technology | Technology | Computer Software: Prepackaged Software (Design) | -1 | PDFS |
| Technology | Technology | Computer Software: Prepackaged Software (Enterprise) | -5 | AVYA, CNXC, CXM, KERN, SHOP |
| Technology | Technology | Computer Software: Prepackaged Software (Financial) | -1 | ACIW |
| Technology | Technology | Computer Software: Prepackaged Software (Security) | -3 | CGNT, CMCM, FTNT |
| Technology | Technology | Electronic Components | -2 | MU, SGH |
| Technology | Technology | EDP Services (Integrated System) | -1 | NCR |
| Technology | Technology | Computer Communications Equipment | -1 | CAMP |
| Technology | Technology | Semiconductors | -4 | HIMX, MPWR, QCOM, SITM |
| Technology | Technology | Semiconductors (Equip) | -12 | ACLS, AEIS, CCMP, ENTG, FORM, ICHR, KLAC, LRCX, NVMI, ONTO, PLAB, TER |
| Technology | Technology | Semiconductors (Manufacturing) | -4 | GFS, IMOS, TSM, UMC |
| Technology | Technology | Computer Software: Programming, Data Processing (Content) | -1 | PINS |
| Technology | Technology | EDP Services | -1 | CRDO |
| Technology | Consumer Services | Television Services | -1 | LBTYA |
| Technology | Technology | Radio And Television Broadcasting And Communications Equipment | -1 | CMTL |
| Technology | Consumer Durables | Telecommunications Equipment | -1 | AAOI |
| Technology | Technology | Radio And Television Broadcasting And Communications Equipment | -1 | AVNW |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | -1 | VSCO |
| Retail | Consumer Non-Durables | Shoe Manufacturing | -1 | NKE |
| Retail | Capital Goods | Auto Manufacturing | -3 | HMC, MULN, STLA |
| Retail | Capital Goods | Auto Parts:O.E.M. (Equipment) | -1 | BWA |
| Retail | Consumer Non-Durables | Beverages Alcoholic (Production/Distribution) | -2 | DEO, STZ |
| Retail | Consumer Durables | Specialty Chemicals | -2 | CGC, GNLN |
| Retail | Consumer Non-Durables | Package Goods/Cosmetics | -1 | EWCZ |
| Retail | Capital Goods | Industrial Machinery/Components | -2 | IDCC, OLED |
| Retail | Consumer Services | Catalog/Specialty Distribution | -1 | MKC |
| Retail | Consumer Durables | Office Equipment/Supplies/Services | -1 | MLKN |
| Retail | Consumer Non-Durables | Plastic Products | -1 | IRBT |
| Retail | Consumer Services | Hotels/Resorts (Gaming) | -1 | CZR |
| Retail | Consumer Non-Durables | Recreational Products/Toys, Motor Vehicles | -1 | VSTO |
| Retail | Consumer Services | Marine Transportation | -4 | CCL, CUK, RCL, UP |
| Retail | Consumer Services | Television Services | -1 | TV |
| Retail | Consumer Services | RETAIL: Building Materials | -1 | FND |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | -3 | DBI, GCO, SCVL |
| Retail | Consumer Services | Department/Specialty Retail Stores | -1 | KSS |
| Retail | Health Care | Medical/Nursing Services | -1 | WBA |
| Retail | Consumer Services | Other Specialty Stores | -3 | BBBY, RH, TCS |
| Retail | Miscellaneous | Business Services (Internet) | -1 | TDUP |
| Retail | Consumer Services | Other Specialty Stores (Leisure) | -1 | BBW |
| Retail | Consumer Services | Restaurants | -2 | BJRI, DRI |
| Retail | Transportation | Air Freight/Delivery Services | -4 | AZUL, GOL, JBLU, RYAAY |
| Retail | Technology | Retail: Computer Software & Peripheral Equipment | -1 | SNX |
| Industrial | Capital Goods | Military/Government/Technical | -1 | RADA |
| Industrial | Capital Goods | Engineering & Construction | -1 | PRIM |
| Industrial | Basic Industries | Major Chemicals | -1 | CE |
| Industrial | Basic Industries | Major Chemicals: Plastics | -1 | AVNT |
| Industrial | Basic Industries | Major Chemicals: Others | -4 | ASPN, ESI, TROX, UNVR |
| Industrial | Technology | Advertising | -1 | TTGT |
| Industrial | Miscellaneous | Business Services (Outsourcing) | -2 | HQY, PAYX |
| Industrial | Technology | Electrical Products | -1 | JBL |
| Industrial | Capital Goods | Electrical Products | -1 | ITRI |
| Industrial | Consumer Durables | Metal Fabrications | -1 | EVGO |
| Industrial | Miscellaneous | Industrial Machinery/Components | -3 | IIVI, MEI, TEL |
| Industrial | Basic Industries | Aluminum | -3 | CMC, NNBR, SCHN |
| Industrial | Basic Industries | Paper | -2 | NP, VRTV |
| Industrial | Consumer Services | Diversified Commercial Services | -2 | ADT, SWBI |
| Industrial | Transportation | Air Freight/Delivery Services | -1 | FDX |
| Health | Health Care | Major Pharmaceuticals | -4 | BPMC, CYTK, HALO, NGM |
| Health | Health Care | Biotechnology: Commercial Physical & Biological Research | -2 | DNAY, ICLR |
| Commodities | Energy | Industrial Machinery/Components | -2 | CLNE, KEN |
| Commodities | Capital Goods | Semiconductors (Solar) | -2 | CAT, CNHI |
| Commodities | Basic Industries | Precious Metals | -2 | PLL, TECK |
| Commodities | Energy | Oilfield Services/Equipment | -1 | EQT |
| Commodities | Energy | Integrated oil Companies | -1 | MUR |
| Commodities | Energy | Metal Fabrications | -1 | CVI |
| Commodities | Energy | Oil & Gas Production (Royalty Trust) | -1 | ET |
| Commodities | Energy | Natural Gas Distribution | -9 | CDEV, DEN, MGY, OAS, SBOW, SD, SWN, WLL, WTI |
| Financial | Finance | Steel/Iron Ore | -2 | ITUB, KB |
| Financial | Finance | Finance: Consumer Services | -1 | MOGO |
| Financial | Finance | Business Services | -4 | AMP, COWN, LAZ, MKTX |
| Financial | Finance | Investment Bankers/Brokers/Service | -1 | BEN |
| Financial | Consumer Services | Real Estate Investment Trusts | -1 | TREE |
| Financial | Consumer Services | Real Estate Investment Trusts | -1 | PEB |
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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