The Canadian Vanguard Stock Market Report At Close – Tuesday, February 27, 2024 .

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Data Driven Market Analysis And Report For Tomorrow’s  Winning Trades

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The Toronto Market

The TSX declined -5.41 points or -0.03% to close today’s market session at 21,318.90. The TSX was down marginally today but the market was otherwise really bullish. The message from the data is that the rally remains in full vigour.

                                                                                                                                                                                   

Seven of the major sectors ended the day in green with Discretionary Consumer Goods & Services up 1.24% and Durable Consumer Goods & Services up 0.58%. Utilities was up 0.46%; Telecommunications Services was up 0.44%; Basic Materials was up 0.41% while Energy gained 0.36% and Healthcare gained 0.29%. Financials was down -0.22% while Industrials sector was down -0.29% and Technology was down today -0.31%.

Auto & Truck Manufacturers lead the industries with a gain of 4.4%; Home Furnishing industry gained 4.10%; Forest & Wood Products gained 3.91%; Chemicals – Specialty gained 3.18% and Publishing gained 2.95%. Computer Hardware was the worst performing industry with -4.80% decline. Environmental Services declined -1.31%.

Today’s Statistics: The gaining issues (advancers) outnumbered declined issues (decliners) today. The ratio of advancers to decliners was 1.66-to-1.0 or in practical terms, for every eight advancers there were five decliners. In real numbers, 895 decliners to 540 advancers to with 153 Unchanged. The total volume of shares traded for gaining stocks was 205,451,658 or 60.1%; the total volume for declined stocks was 122,211,918 or 35.7% and 14,365,731 or 4.2% for “Unchanged”.

There were 160 new 52-Week Highs and 25 new 52-Week Lows.

The total volume of stocks traded at the TSX today was 342,029,307 compared to 346,779,697 yesterday, a 1.5% decrease. Today’s volume of 342,029,307 was one percent higher than the average of the ten most recent market sessions.

The US Markets

The US market ended the day mixed. The Dow Jones Industrial Average was down -96.82 points, or -0.25%, to close at 38,972.41. The S&P 500 gained 8.65 points, or 0.17%, to close at 5,078.18. The Nasdaq Composite was up 59.05 points or 0.37%, to close at 16,035.30.  The indexes were up and volume was up today for the Nasdaq.

The market was positive and broad-based at the US markets today. Nine of the major sectors ended the session with gains. Utilities gained 1.735%; Telecommunications Services gained 0.59%; Financials gained  0.53%; Basic Materials gained 0.49%; technology gained 0.22%; Indutrials gaiend 0.16%; Healthcare was up 0.12% and Durable Consumer Goods & Services  was up 0.02%. Energy was the only sector that ended the session in red. The sector declined -0.10%.

Advertising / Marketing industry control led the gaining industries today. It was up 4.28%. Yesterday it was up 4.4%. Retail – Computers & Electronics gained 3.51%; Retail – Specialty was up 3.34%; Retail – Department Stores gained 2.49% and Biotechnology gained 2.21%.  The retail industry is seeing a rebound. Computer Hardware was the worst performing industry today with-0.71% decline.

Today’s Market Statistics: Today, the gaining issues (advancers) outnumbered the declined issues (decliners) on the NYSE in spite of the rally by a ratio of 1.45-to-1 or there were roughly three decliners for every two advancers. In real numbers, there were 2,337 advancers to 1,612 decliners and 300 “Unchanged”. The total volume of volume-gaining stocks was 658,553,455 or 68.8%; the total volume of declined-volume stocks was 287,032,038 or 30.0%; and 12,067,384 or 1.3% “Unchanged”.

There were 344 new 52-Week Highs and 40 new 52-Week Lows.

The total volume of stocks traded at the NYSE today was 957,652,877 compared with 935,758,133 yesterday, a two percent increase. Today’s volume of 957,652,877 is slightly higher than the average of the ten most recent market sessions.

On the NASDAQ, the advancers continue to prevail and outnumbered the decliners by a ratio of 1.63-to-1 or roughly for every eight advancers there were five decliners. In real numbers, there were 2,672 decliners to 1,634 advancers with 346 unchanged. The current rally is standing firm. The total volume of volume-gaining stocks was 4,038,456,969 or 72.5%; the total volume of declined-volume stocks was 1,468,704,308 or 26.4% and 60,343,983 or 1.1% for “Unchanged”.

There were 268 new 52-Week Highs and 66 new 52-Week Lows. The current rally remains very much alive. The data confirm a bullish trend.

The total volume of stocks traded at the NASDAQ today was 5,567,505,260 compared to 5,550,727,379 yesterday, practically no change. Today’s volume of 5,567,505,260 is just one percent higher than the average of the last ten market sessions.

Today’s market data establishes one thing surely, that the current rally prevailed today. We just need to wait to see the inflation data report tomorrow.

The market outlook remains confirmed uptrend.

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