The Canadian Vanguard Stock Market Report At Market Close – Monday, April 15, 2024 .
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Data Driven Stock Market Analysis And Report
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The Toronto Market
The TSX declined -159.79 points or -0.73% to close today’s market session at 21,740.20. The index has now declined four consecutive market sessions. The market session today was driven by the likelihood of escalation of the war in the Middle East. The North American markets are being driven by same risks – possible escalation of the war in the Middle East.
The market was quite bearish today. Technically, only three of the major sectors gained today. Two of the gaining sectors were Telecommunications Services, up 0.05% and Discretionary Consumer Goods & Services, up 0.03%. These were really negligible gains. Durable Consumer Goods & Services, on the other hand, gained 0.71%, a tangible gain. Utilities declined -0.42%; Financials declined -0.70%; Healthcare declined -0.71%; Basic Materials declined -0.97%; Energy declined -1.12%; while Technology declined -1.39%.
Constructional Materials Industry was up 1.93% while Entertainment Production gained 1.44%; Personal Products gained 1.32%; Retail – Apparel & Accessories gained 1.27% and Food Distribution & Convenience Stores was up 1.15%.
Today’s Statistics: Today, declined issues (Decliners) completely outnumbered the gaining issues (Advancers). The ratio of Decliners to Advancers was 3.61-to-1.0 or in practical terms, roughly for every thirty six Decliners there were ten Advancers, really lopsidedly bearish. In actual numbers, 1,177 Decliners to 326 Advancers with 91 Unchanged. The total volume of shares traded for gaining stocks was 51,028,502 or 13.9%, the total volume for declined stocks was 307,415,316 or 83.7% and 9,045,553 or 2.5% for “Unchanged”.
There were 36 new 52-Week Highs and 25 new 52-Week Lows. On Friday, there were 107 new 52-Week Highs and 15 new 52-Week Lows. Be sure to refer to: https://www.blackcanadianmedia.ca/the-canadian-vanguard-stock-market-report-at-market-close-april-12-2024-weekend/ , Today’s Statistics section to get a full picture of how the market built up the current bearish profile.
The total volume of stocks traded at the TSX today was 367,489,371 compared to 397,985,218 yesterday, an 8% decrease. Today’s volume of 367,489,371 was just slightly higher than the average of the ten most recent market sessions.
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The US Markets
The Dow Jones Industrial Average declined a heavy -248.13 points or -0.65% to close at 37,735.11 today. The S&P 500 declined -61.59 points, or -1.20%, to close at 5,061.82. Nasdaq declined -290.08 points or -1.79%, to close at 15,885.02. Volume on the NYSE was down one third of a percent while volume was up 7.86% on the Nasdaq. The indexes have all broken down. The Nasdaq crashed south of the 50 day moving average literally in two sessions. It is not the usual market forces currently driving the markets. Markets just cannot easily defy geopolitical turmoil.
The purple chart is the 50 day moving average with the Nasdaq’s closing value, 15885 today, showing below the chart. This is a “danger sign” for investors – the index is crashing full speed into bear territory.
All the major sectors declined at the US markets on Monday, repeating the poor performance of Friday, making it two consecutive sessions of all sectors decline, not a common occurrence. Telecommunication Services declined -0.03% to lead the sectors and Technology declined -2% to be the worst performing sector on Monday. Basic Materials declined -0.51% and Financials declined -0.66%. Energy declined -1.04%. Monday was worse than Friday and we commented on Friday that the market was brutally bearish.
Aluminum industry was up 2.71%; Managed Healthcare was up 0.91%; Footwear was up 0.62%; Mining & Metals – Specialty industry was up 0.48% while Retails – Drugs was up 0.24%.
Today’s Market Statistics: Today, the declined issues (Decliners) completely outnumbered the gaining issues (Advancers) on the NYSE. The ratio of Decliners to Advancers was 5.09-to-1.0 or in practical terms, approximately for every five Decliners there was one Advancer. In actual numbers, 3,456 Decliners to 678 Advancers with 219 Unchanged. The total volume of shares traded for gaining stocks was 215,202,344 or 20.5%; the total volume for declined stocks was 821,294,662 or 78.4% and 11,337,864 or 1.1% for “Unchanged”. These are really bearish numbers. The bears totally dominated the market today. It was a very negative market session. In terms of figures this aspect of the market was a bit better than Friday’s but the market remains so lopsidedly bearish, the difference may be relevant for academic purposes only.
There were 39 new 52-Week Highs and 138 new 52-Week Lows. The market is now clearly in bearish trend.
The total volume of stocks traded at the NYSE today was 1,047,834,870 compared with 1,027,759,621 on Friday, a 2% increase. Today’s volume of 1,047,834,870 was about two and a half per cent higher than the average of the ten most recent market sessions.
On the NASDAQ, the Decliners totally outnumbered the Advancers today by a ratio of 3.21-to-1 or, roughly for every thirty two Decliners there were ten Advancers. In real numbers, there were 3,361 Decliners to 926 Advancers with 280 Unchanged. The total volume of volume-gaining stocks was 1,357,653,542 or 27.0%; the total volume of declined-volume stocks was 3,617,341,564 or 72.0% and 50,041,273 or 1.0% for “Unchanged”.
There were 38 new 52-Week Highs and 338 new 52-Week Lows. On Friday, there were 55 new 52-Week Highs and 212 new 52-Week Lows.
The total volume of stocks traded at the NASDAQ today was 5,025,036,379 compared to 4,651,342,025 yesterday, an 8% increase. Today’s volume of 5,025,036,379 is about 9% percent higher than the average of the last ten market sessions.
10 –year Treasury Yield: The US 10-year Treasury yield jumped 12.5 basis points to 4.62% today.
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Regular Market Day Features
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The Canadian Vanguard Chinese Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
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