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AFTER MARKET UPDATE - THURSDAY, JANUARY 11TH, 2024
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DOW |
+15.29 |
37,711.02 |
+0.04% |
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Volume |
891,731,338 |
+6% |
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Volume |
5,234,051,900 |
+18% |
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NASDAQ |
+0.54 |
14,970.19 |
+0.00% |
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Advancers |
1,157 |
42% |
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Advancers |
1,524 |
36% |
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S&P 500 |
-3.21 |
4,780.24 |
-0.07% |
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Decliners |
1,607 |
58% |
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Decliners |
2,737 |
64% |
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Russell 2000 |
-14.80 |
1,955.46 |
-0.75% |
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52 Wk Highs |
71 |
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52 Wk Highs |
110 |
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S&P 600 |
-8.76 |
1,272.69 |
-0.68% |
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52 Wk Lows |
35 |
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52 Wk Lows |
134 |
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Major Indices Show More Mixed Action
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Russell 2000 closed with a 0.8% loss while the three major indices settled little changed. Volume was reported higher than the prior session total on the NYSE and on the Nasdaq exchange. Decliners led advancers by a 4-3 margin on the NYSE and by more than 5-3 on the Nasdaq exchange. There were 51 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 46 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows outnumbererd new highs 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 S&P 500 Index is perched near its all-time high.
Nine of the 11 S&P 500 sectors fell. Utilities were the worst performer, sinking 2.3%. The Consumer Price Index (CPI) report for December was slightly hotter than the market's hopeful expectations. Total CPI increased 3.4% year-over-year in December, up from 3.1% in November, while the core reading decelerated slightly to 3.9% from 4.0%. Weekly initial jobless claims at 202,000, were down from 203,000 in the prior week.
The 2-yr note yield fell nine basis points to 4.27% and the 10-yr note yield declined five basis points to 3.98%. |
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, Semiconductor, and Energy-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.62%) posted a modest gain while the Broker/Dealer Index ($XBD -0.43%) and the Bank Index ($BKX -0.98%) both ended lower. The tech sector was mixed as the Semiconductor Index ($SOX +0.47%) edged higher and the Biotech Index ($BTK -1.31%) fell and the Networking Index ($NWX -0.02%) finished flat. Energy-linked groups had a slightly positive bias as the Integrated Oil Index ($XOI +0.61%) and the Oil Services Index ($OSX +0.18%) rose, meanwhile the Gold & Silver Index ($XAU -0.94%) lost ground.
PICTURED: The Broker/Dealer Index ($XBD -0.43%) is consolidating after its December 2023 high, well above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
78.27 |
+0.14 |
+0.18% |
-6.69% |
| Integrated Oil |
$XOI |
1,823.74 |
+11.09 |
+0.61% |
-2.08% |
| Semiconductor |
$SOX |
4,067.90 |
+19.05 |
+0.47% |
-2.58% |
| Networking |
$NWX |
835.99 |
-0.20 |
-0.02% |
+0.38% |
| Broker/Dealer |
$XBD |
541.33 |
-2.32 |
-0.43% |
-2.86% |
| Retail |
$RLX |
3,947.54 |
+24.15 |
+0.62% |
+1.51% |
| Gold & Silver |
$XAU |
117.44 |
-1.11 |
-0.94% |
-6.56% |
| Bank |
$BKX |
95.11 |
-0.95 |
-0.98% |
-0.95% |
| Biotech |
$BTK |
5,335.56 |
-70.95 |
-1.31% |
-1.54% |
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Inching to New Highs With 6th Consecutive Gain
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Transdigm Group Inc (TDG +$4.82 or +0.47% to $1,019.82) posted a 6th consecutive gain today with below-average volume. The new pivot point cited was based on its 11/14/23 high plus 10 cents. Gains above the pivot point must be backed by at least +40% above-average volume to trigger a proper new technical buy signal. Fundamentals remain strong. Important near-term support to watch is its 50-day moving average (DMA) line ($969).
TDG was highlighted in yellow in the 11/09/23 mid-day report (read here) with pivot point cited based on its 8/08/23 high plus 10 cents. It was last shown in the FSU sectio on 12/14/23 in greater detail with an annotated graph under the headline, "Volume-Driven Loss Breaks Streak of 6 Straight Gains".
Fundamentals remain strong. It reported Sep '23 quarterly earnings +46% on +23% sales revenues versus the year-ago period, its 10th consecutive comparison above the +25% minimum earnings guideline (C criteria). Growth has been very strong after a downturn in FY '20 and '21 (A criteria) hurt its earnings track record. It has an 88 Earnings Per Share Rating.
The number of top-rated funds owning its shares rose from 1,332 in Dec '22 to 1,500 in Sep '23, a reassuring trend concerning the I criteria. Its small supply of 53.1 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling. It has a Timeliness Rating of A and an Accumulation/Distribution rating of B-.
Charts used courtesy of www.stockcharts.com
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 - NYSE
Arista Networks
Computer-Networking | $251.74 | +2.51
1.01% | $252.15 | 1,256,845
63.25% of 50 DAV
50 DAV is 1,987,000 | $251.25
0.20%
| 10/31/2023 | $188.84 | PP = $198.80 | | MB = $208.74 |  Most Recent Note - 1/11/2024 11:08:42 PM
G - Posted a small gain today with light volume for another new all-time high. Its 50 DMA line ($224) 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 | $106.69 | -1.98
-1.82% | $108.69 | 5,021,297
118.48% of 50 DAV
50 DAV is 4,238,000 | $108.98
-2.10%
| 11/2/2023 | $100.97 | PP = $104.10 | | MB = $109.31 | Most Recent Note - 1/11/2024 12:23:23 PM
Y - Pulling back today after challenging its all-time high. Prior highs in the $105 area define initial support above its 50 DMA line ($101.34).
>>> FEATURED STOCK ARTICLE : Gap Up Gain on Prior Session Triggered Technical Buy Signal - 1/5/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | QLYS - NASDAQ
Qualys
Computer Sftwr-Security | $191.99 | +3.36
1.78% | $192.18 | 699,425
186.02% of 50 DAV
50 DAV is 376,000 | $206.35
-6.96%
| 11/3/2023 | $167.50 | PP = $165.03 | | MB = $173.28 | Most Recent Note - 1/11/2024 11:11:40 PM
G - Posted a 3rd consecutive gain today with higher volume after finding prompt support near its 50 DMA line ($184). The 1/05/24 low ($180.01) defines important near-term support where more damaging losses would raise concerns.
>>> 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 | Chart | Request a new note C A S I | AXON - NASDAQ
Axon Enterprise
Security/Sfty | $249.59 | +0.57
0.23% | $251.72 | 383,934
84.75% of 50 DAV
50 DAV is 453,000 | $260.69
-4.26%
| 11/8/2023 | $127.84 | PP = $223.30 | | MB = $234.47 | 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 | Request a new note C A S I | TDG - NYSE
TransDigm Group
Aerospace/Defense | $1,019.82 | +4.82
0.47% | $1,022.98 | 188,763
81.72% of 50 DAV
50 DAV is 231,000 | $1,018.50
0.13%
| 12/12/2023 | $1,000.39 | PP = $1,013.18 | | MB = $1,063.84 | Most Recent Note - 1/11/2024 11:26:30 PM
Y - Hit a new high as it posted a 6th consecutive gain today with below-average volume. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Inching to New Highs With 6th Consecutive Gain - 1/11/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note 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 | $323.49 | +7.40
2.34% | $325.37 | 5,000,749
114.59% of 50 DAV
50 DAV is 4,364,000 | $318.00
1.73%
| 1/10/2024 | $313.65 | PP = $318.00 | | MB = $333.90 | 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 | SEC News | Chart | Request a new note C A S I | URI - NYSE
United Rentals
Comml Svcs-Leasing | $551.70 | +2.02
0.37% | $552.83 | 567,222
82.45% of 50 DAV
50 DAV is 688,000 | $585.50
-5.77%
| 12/1/2023 | $499.51 | PP = $488.73 | | MB = $513.17 | 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 | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | AMPH - NASDAQ
Amphastar Pharm
Medical-Biomed/Biotech | $54.03 | -0.79
-1.44% | $54.64 | 720,046
149.39% of 50 DAV
50 DAV is 482,000 | $67.66
-20.14%
| 12/4/2023 | $60.84 | PP = $58.35 | | MB = $61.27 | 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 | Company Profile | SEC News | Chart | Request a new note C A S I | TBBK - NASDAQ
The Bancorp
Banks-Northeast | $39.42 | +0.38
0.97% | $39.61 | 471,719
113.94% of 50 DAV
50 DAV is 414,000 | $42.46
-7.16%
| 12/4/2023 | $39.88 | PP = $41.62 | | MB = $43.70 | 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 | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | LULU - NASDAQ
lululemon athletica
Retail-Apparel/Shoes/Acc | $485.48 | +1.38
0.29% | $486.21 | 823,650
54.91% of 50 DAV
50 DAV is 1,500,000 | $516.39
-5.99%
| 12/8/2023 | $490.61 | PP = $485.93 | | MB = $510.23 | 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 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note 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 | $284.41 | +2.37
0.84% | $287.76 | 3,460,716
108.08% of 50 DAV
50 DAV is 3,202,000 | $282.32
0.74%
| 1/2/2024 | $246.42 | PP = $261.91 | | MB = $275.01 | 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 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | ELF - NYSE
e.l.f. Beauty
Cosmetics/Personal Care | $159.07 | +3.44
2.21% | $160.21 | 1,120,841
75.99% of 50 DAV
50 DAV is 1,475,000 | $156.41
1.70%
| 1/2/2024 | $138.23 | PP = $153.63 | | MB = $161.31 | Most Recent Note - 1/11/2024 11:10:02 PM
Y - Wedged to another new high with today''s 6th consecutive gain backed by below-average volume. 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 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I |
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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***
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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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