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AFTER MARKET UPDATE - WEDNESDAY, JANUARY 10TH, 2024
Previous After Market Report Next After Market Report >>>
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DOW |
+170.57 |
37,695.73 |
+0.45% |
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Volume |
841,124,986 |
+0% |
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Volume |
4,431,219,400 |
-13% |
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NASDAQ |
+111.94 |
14,969.65 |
+0.75% |
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Advancers |
1,578 |
57% |
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Advancers |
2,076 |
49% |
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S&P 500 |
+26.95 |
4,783.45 |
+0.57% |
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Decliners |
1,200 |
43% |
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Decliners |
2,136 |
51% |
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Russell 2000 |
+2.23 |
1,970.26 |
+0.11% |
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52 Wk Highs |
67 |
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52 Wk Highs |
106 |
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S&P 600 |
+4.74 |
1,281.45 |
+0.37% |
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52 Wk Lows |
38 |
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52 Wk Lows |
98 |
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Leadership Improved as Major Indices Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 logged a 0.6% gain and turned positive for the year; the Dow Jones Industrial Average saw a 0.5% gain; and Nasdaq Composite registered a 0.8% gain. Volume was reported mixed, slightly higher than the prior session total on the NYSE and lower on the Nasdaq exchange. Advancers led decliners by a 5-4 margin on the NYSE but decliners narrowly outnumbered advancers on the Nasdaq exchange. There were 46 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, more than doubling the total of 20 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). New buying efforts should be only made in stocks fitting all key criteria of the fact-based investment system.
PICTURED: The Dow Jones Industrial Average is perched near its all-time high.
Mega cap stocks boosted the major indexes with influential gains. Apple (AAPL +0.6%) ended higher after it had been down as much as 0.7%, shaking off another analyst downgrade. Meta Platforms (META +3.7%) and NVIDIA (NVDA +2.3%) were among the gainers helping to offset modest weakness in Tesla (TSLA -0.4%).
The health care sector (+0.4%) and the industrial sector (+0.5%) rose. Meanwhile, the energy sector (-1.0%) declined alongside oil prices as WTI crude oil futures fell -1.0% to $71.41/bbl.
Wednesday marked a new $37 billion 10-yr note auction. Treasuries settled little changed as the 2-yr note yield fell two basis points to 4.36% and the 10-yr note yield rose one basis point to 4.03%. Thursday's mews will include the release of the December Consumer Price Index. Earnings reports are due from many firms in the banking industry before Friday's open.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail and Networking Indexes Led Group Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.59%) posted a solid gain while the Broker/Dealer Index ($XBD -0.36%) and the Bank Index ($BKX -0.36%) both edged lower. The tech sector was mixed as the Networking Index ($NWX +1.07%) posted a gain while the Semiconductor Index ($SOX -0.39%) and the Biotech Index ($BTK -0.73%) both fell. Energy-linked groups fell as the Integrated Oil Index ($XOI -1.16%) and the Oil Services Index ($OSX -1.36%) both slumped, meanwhile the Gold & Silver Index ($XAU -0.09%) was little changed.
PICTURED: The Bank Index ($BKX -0.36%) is holding its ground stubbornly after rising from its October low.
| Oil Services |
$OSX |
78.13 |
-1.07 |
-1.36% |
-6.86% |
| Integrated Oil |
$XOI |
1,812.65 |
-21.25 |
-1.16% |
-2.67% |
| Semiconductor |
$SOX |
4,048.84 |
-15.81 |
-0.39% |
-3.03% |
| Networking |
$NWX |
836.18 |
+8.83 |
+1.07% |
+0.41% |
| Broker/Dealer |
$XBD |
543.65 |
-1.96 |
-0.36% |
-2.45% |
| Retail |
$RLX |
3,923.39 |
+61.44 |
+1.59% |
+0.89% |
| Gold & Silver |
$XAU |
118.55 |
-0.10 |
-0.09% |
-5.68% |
| Bank |
$BKX |
96.06 |
-0.35 |
-0.36% |
+0.04% |
| Biotech |
$BTK |
5,406.51 |
-39.95 |
-0.73% |
-0.23% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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Color Codes Explained :
Y - Better candidates highlighted by our
staff of experts.
G - Previously featured
in past reports as yellow but may no longer be buyable under the
guidelines.
***Last / Change / Volume data in this table is the closing quote data***
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
ANET
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NYSE
Arista Networks
Computer-Networking
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$249.23
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+4.03
1.64% |
$251.25
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1,662,638
82.76% of 50 DAV
50 DAV is 2,009,000
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$247.54
0.68%
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10/31/2023
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$188.84
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PP = $198.80
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MB = $208.74
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Most Recent Note - 1/8/2024 10:38:44 AM
G - Gapped up today and rallied to hit a new all-time high. Its 50 DMA line ($219) defines near-term support above the prior low in the $210 area. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Base and Hovering at All-Time High - 12/26/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$108.67
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+1.72
1.61% |
$108.77
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4,709,135
111.88% of 50 DAV
50 DAV is 4,209,000
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$108.98
-0.28%
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11/2/2023
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$100.97
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PP = $104.10
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MB = $109.31
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Most Recent Note - 1/9/2024 5:22:46 PM
Y - Stubbornly holding its ground since a 1/04/24 gap up and volume-driven gain triggered a technical buy signal while hitting a new all-time high. Prior highs in the $105 area define initial support above its 50 DMA line ($100.84).
>>> FEATURED STOCK ARTICLE : Gap Up Gain on Prior Session Triggered Technical Buy Signal - 1/5/2024 |
View all notes |
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Company Profile |
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News |
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C
A
S
I |
QLYS
-
NASDAQ
Qualys
Computer Sftwr-Security
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$188.63
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+2.40
1.29% |
$189.58
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320,092
85.59% of 50 DAV
50 DAV is 374,000
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$206.35
-8.59%
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11/3/2023
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$167.50
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PP = $165.03
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MB = $173.28
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Most Recent Note - 1/8/2024 5:38:37 PM
G - Found prompt support near its 50 DMA line ($181.88) and posted a gain today with light volume breaking a streak of 8 consecutive losses. The prior session low ($180.01) defines important near-term support where more damaging losses would raise concerns. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Posted Light Volume Gain Finding Support at 50-Day Moving Average - 1/8/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
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$249.02
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-0.08
-0.03% |
$250.97
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470,266
104.04% of 50 DAV
50 DAV is 452,000
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$260.69
-4.48%
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11/8/2023
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$127.84
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PP = $223.30
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MB = $234.47
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Most Recent Note - 1/9/2024 5:14:08 PM
G - Pulled back today with average volume. Its 50-day moving average (DMA) line ($233) defines near-term support above prior highs in the $229-231 area. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Well Above Near-Term Support - 1/9/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
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$1,015.00
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+14.88
1.49% |
$1,017.21
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205,772
89.08% of 50 DAV
50 DAV is 231,000
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$1,018.50
-0.34%
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12/12/2023
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$1,000.39
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PP = $1,013.18
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MB = $1,063.84
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Most Recent Note - 1/8/2024 5:46:10 PM
Y - Posted a 3rd consecutive gain today with higher volume. The new pivot point cited was based on its 11/14/23 high plus 10 cents, however, recent gains above the pivot point were not backed by the +40% above-average volume necessary to trigger a proper new technical buy signal. Fundamentals remain strong. Its recent low ($972.08 on 1/03/24) defines near-term support to watch above its 50 DMA line ($957.46).
>>> FEATURED STOCK ARTICLE : Volume-Driven Loss Breaks Streak of 6 Straight Gains - 12/14/2023 |
View all notes |
Set NEW NOTE alert |
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News |
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C
A
S
I |
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
PANW
-
NASDAQ
Palo Alto Networks
Computer Sftwr-Security
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$316.09
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+15.67
5.22% |
$316.49
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5,035,392
116.88% of 50 DAV
50 DAV is 4,308,000
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$318.00
-0.60%
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1/10/2024
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$313.65
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PP = $318.00
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MB = $333.90
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Most Recent Note - 1/10/2024 1:58:01 PM
Y - Gapped up today on track for a 3rd consecutive gain challenging its all-time high. Color code is changed to yellow while noting that a valid secondary buy point exists up to 5% above the prior high after finding support at its 10 WMA line since the prior breakout. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Consolidating After Volume-Driven Gains for All-Time Highs - 12/15/2023 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
URI
-
NYSE
United Rentals
Comml Svcs-Leasing
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$549.68
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+1.66
0.30% |
$551.73
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368,215
52.68% of 50 DAV
50 DAV is 699,000
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$585.50
-6.12%
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12/1/2023
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$499.51
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PP = $488.73
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MB = $513.17
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Most Recent Note - 1/9/2024 5:21:29 PM
G - Quietly pulled back from its all-time high. Its 50 DMA line ($498) defines near-term support to watch above prior highs.
>>> FEATURED STOCK ARTICLE : Perched Near All-Time High Following Volume-Driven Gains - 12/19/2023 |
View all notes |
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News |
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C
A
S
I |
AMPH
-
NASDAQ
Amphastar Pharm
Medical-Biomed/Biotech
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$54.82
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-2.00
-3.52% |
$57.25
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1,193,102
257.13% of 50 DAV
50 DAV is 464,000
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$67.66
-18.98%
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12/4/2023
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$60.84
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PP = $58.35
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MB = $61.27
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Most Recent Note - 1/10/2024 1:50:47 PM
G - Color code is changed to green with today's 4th consecutive volume-driven loss violating its 50 DMA line ($56.16) raising concerns and triggering a technical sell signal. Only a prompt rebound above the 50 DMA line would help its outlook improve. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Consolidating Above Pivot Point With Volume Cooling - 12/21/2023 |
View all notes |
Set NEW NOTE alert |
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News |
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C
A
S
I |
TBBK
-
NASDAQ
The Bancorp
Banks-Northeast
|
$39.04
|
+0.70
1.83% |
$39.23
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351,249
83.23% of 50 DAV
50 DAV is 422,000
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$42.46
-8.05%
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12/4/2023
|
$39.88
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PP = $41.62
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MB = $43.70
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Most Recent Note - 1/9/2024 5:19:22 PM
G - Still lingering below its 50 DMA line ($38.84) which may now act as resistance after damaging losses raised concerns. A prompt rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Negative Reversals are Signs of Distributional Pressure - 12/22/2023 |
View all notes |
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News |
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C
A
S
I |
LULU
-
NASDAQ
lululemon athletica
Retail-Apparel/Shoes/Acc
|
$484.10
|
-1.61
-0.33% |
$488.51
|
1,272,644
84.62% of 50 DAV
50 DAV is 1,504,000
|
$516.39
-6.25%
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12/8/2023
|
$490.61
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PP = $485.93
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|
MB = $510.23
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Most Recent Note - 1/9/2024 5:17:54 PM
Y - Quietly pulling back from its all-time high and trading near its 2021 high of $485 which defines initial support to watch after its recent breakout from a 2+ year base. More damaging losses would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Perched at All-Time High With Volume Totals Cooling - 12/27/2023 |
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News |
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C
A
S
I |
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
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$282.04
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+8.27
3.02% |
$282.32
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4,660,718
148.24% of 50 DAV
50 DAV is 3,144,000
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$276.56
1.98%
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1/2/2024
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$246.42
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PP = $261.91
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MB = $275.01
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Most Recent Note - 1/10/2024 12:19:52 PM
G - Color code was changed to green after rising above its "max buy" level and hitting another new 52-week high with today's 5th consecutive gain. A solid gain and close above the pivot point triggered a technical buy signal on the prior session. Reported Oct '23 quarterly earnings +105% on +35% sales revenues versus the year-ago period, extending its streak of strong earnings increases well above the +25% minimum guideline (C criteria) in quarterly comparisons. Faces no resistance due to overhead supply. Annual earnings history has been strong. Completed its $34 IPO on 6/12/19.
>>> FEATURED STOCK ARTICLE : CrowdStrike Holdings Pulling Back After "3-Weeks Tight" Pattern - 1/3/2024 |
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C
A
S
I |
ELF
-
NYSE
e.l.f. Beauty
Cosmetics/Personal Care
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$155.63
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+0.95
0.61% |
$156.41
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966,865
65.55% of 50 DAV
50 DAV is 1,475,000
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$155.90
-0.17%
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1/2/2024
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$138.23
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PP = $153.63
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MB = $161.31
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Most Recent Note - 1/8/2024 10:41:01 AM
Y - Rebounding near its prior high with today's big 3rd consecutive gain. Pivot point cited recently was based on its 12/20/23 high plus 10 cents after forming an advanced "3 weeks tight" base. Subsequent volume-driven gains for new highs are needed to trigger a technical buy signal. Reported Sep '23 quarterly earnings +128% on +76% sales revenues versus the year-ago period, adding to its streak of very strong quarterly results well above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history over the past 3 years has been strong, making it a better match with the fact-based investment system's fundamental guidelines.
>>> FEATURED STOCK ARTICLE : Pulled Back After Closing 3 Weeks Tight - 1/2/2024 |
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C
A
S
I |
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THESE ARE NOT BUY RECOMMENDATIONS!
Comments contained in the body of this report are technical
opinions only. The material herein has been obtained
from sources believed to be reliable and accurate, however,
its accuracy and completeness cannot be guaranteed.
This site is not an investment advisor, hence it does
not endorse or recommend any securities or other investments.
Any recommendation contained in this report may not
be suitable for all investors and it is not to be deemed
an offer or solicitation on our part with respect to
the purchase or sale of any securities. All trademarks,
service marks and trade names appearing in this report
are the property of their respective owners, and are
likewise used for identification purposes only.
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