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AFTER MARKET UPDATE - THURSDAY, JANUARY 18TH, 2024
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DOW |
+201.94 |
37,468.61 |
+0.54% |
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Volume |
912,027,140 |
+2% |
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Volume |
5,605,502,100 |
+8% |
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NASDAQ |
+200.03 |
15,055.65 |
+1.35% |
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Advancers |
1,530 |
56% |
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Advancers |
2,191 |
52% |
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S&P 500 |
+41.73 |
4,780.94 |
+0.88% |
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Decliners |
1,212 |
44% |
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Decliners |
2,016 |
48% |
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Russell 2000 |
+10.49 |
1,923.65 |
+0.55% |
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52 Wk Highs |
63 |
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52 Wk Highs |
82 |
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S&P 600 |
+11.34 |
1,256.45 |
+0.91% |
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52 Wk Lows |
47 |
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52 Wk Lows |
202 |
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Major Averages Rose With Better Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
With Thursday's gains the S&P 500 and Nasdaq Composite are up +0.2% and +0.3%, respectively, for the year. Volume was reported higher than the prior session totals on the NYSE and on the Nasdaq exchange. Advancers led decliners by a 5-4 margin on the NYSE and by narrower margin on the Nasdaq exchange. There were 59 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 28 on the prior session. New 52-week highs outnumbered new lows on the NYSE while new lows outnumbered 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 600 Small Cap Index is consolidating well above its 50-day moving average (DMA) line.
Seven of the 11 S&P 500 sectors rose and three of them climbed more than 1.0%. The heavily-weighted information technology sector (+2.0%) was the top performer thanks to strength in its mega cap and semiconductor constituents. The financial sector closed with a +0.2% gain while Discover Financial Services (DFS -10.80%) encountered selling pressure after disappointing quarterly results. KeyCorp (KEY -4.62%), Truist (TFC +0.56%), and M&T Bank (MTB +1.47%) each reported earnings. The utilities (-1.1%) and real estate (-0.6%) sectors saw the largest declines.
The 2-yr note yield fell two basis points to 4.34% and the 10-yr note yield settled four basis points higher at 4.14%. Strong economic data included housing starts for December and initial jobless claims that both exceeded expectations.
Apple (AAPL +3.29%) rose after an analyst upgrade and Taiwan Semiconductor Manufacturing (TSM +9.79%) rose after good earnings results.
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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, Tech, and Oil Services Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.02%) rose while the Broker/Dealer Index ($XBD -0.04%) finished flat and the Bank Index ($BKX -0.47%) edged lower. The tech sector had a positive bias as the Semiconductor Index ($SOX +3.36%) and the Networking Index ($NWX +2.02%) both rose but the Biotech Index ($BTK -0.33%) ended slightly lower. The Gold & Silver Index ($XAU -0.11%) and Integrated Oil Index ($XOI -0.22%) both ended slightly in the red while the Oil Services Index ($OSX +1.26%) posted a solid gain.
PICTURED: The Networking Index ($NWX +2.02%) is perched below its July 2023 high.
| Oil Services |
$OSX |
77.87 |
+0.97 |
+1.26% |
-7.16% |
| Integrated Oil |
$XOI |
1,779.82 |
-3.98 |
-0.22% |
-4.44% |
| Semiconductor |
$SOX |
4,206.52 |
+136.57 |
+3.36% |
+0.74% |
| Networking |
$NWX |
845.95 |
+16.76 |
+2.02% |
+1.58% |
| Broker/Dealer |
$XBD |
535.23 |
-0.22 |
-0.04% |
-3.96% |
| Retail |
$RLX |
3,931.18 |
+39.66 |
+1.02% |
+1.09% |
| Gold & Silver |
$XAU |
112.65 |
-0.12 |
-0.11% |
-10.37% |
| Bank |
$BKX |
91.80 |
-0.43 |
-0.47% |
-4.39% |
| Biotech |
$BTK |
5,171.39 |
-17.03 |
-0.33% |
-4.57% |
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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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$257.56
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+8.57
3.44% |
$258.62
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1,828,488
109.82% of 50 DAV
50 DAV is 1,665,000
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$257.21
0.14%
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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 - 1/18/2024 4:54:35 PM
G - Hit another new all-time high with average volume behind today's gain. Its 50 DMA line ($227) 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 |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
|
$107.55
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+0.87
0.82% |
$107.70
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3,359,804
79.79% of 50 DAV
50 DAV is 4,211,000
|
$108.98
-1.31%
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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 - 1/17/2024 5:21:06 PM
Y - Volume has been cooling after recently challenging its all-time high. Prior highs in the $105 area define initial support above its 50 DMA line ($101.85).
>>> FEATURED STOCK ARTICLE : Gap Up Gain on Prior Session Triggered Technical Buy Signal - 1/5/2024 |
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News |
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C
A
S
I |
QLYS
-
NASDAQ
Qualys
Computer Sftwr-Security
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$197.76
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+4.22
2.18% |
$198.19
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278,374
74.04% of 50 DAV
50 DAV is 376,000
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$206.35
-4.16%
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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 - 1/17/2024 5:17:03 PM
G - Still finding support above its 50 DMA line ($186.53). 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 |
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News |
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C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
|
$254.10
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+3.59
1.43% |
$254.19
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251,713
55.32% of 50 DAV
50 DAV is 455,000
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$260.69
-2.53%
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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 - 1/12/2024 5:04:05 PM
G - Posted a small gain today with average volume. Its 50-day moving average (DMA) line ($237) defines near-term support above prior highs in the $229-231 area.
>>> FEATURED STOCK ARTICLE : Consolidating Well Above Near-Term Support - 1/9/2024 |
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News |
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C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
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$1,053.00
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+21.25
2.06% |
$1,053.64
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189,977
86.75% of 50 DAV
50 DAV is 219,000
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$1,040.67
1.18%
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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 - 1/17/2024 5:18:18 PM
Y - Hit another new all-time high with a small gain today with below-average volume. Recently wedging higher without great volume conviction.
>>> FEATURED STOCK ARTICLE : Inching to New Highs With 6th Consecutive Gain - 1/11/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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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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$335.77
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+5.71
1.73% |
$338.59
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3,569,952
79.67% of 50 DAV
50 DAV is 4,481,000
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$333.30
0.74%
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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 - 1/17/2024 5:15:47 PM
Y - Paused today after 6 consecutive gains with below-average volume for new all-time highs.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. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Paused After 6 Gains to a New All-Time High - 1/17/2024 |
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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$563.37
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+13.05
2.37% |
$565.21
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551,762
83.10% of 50 DAV
50 DAV is 664,000
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$585.50
-3.78%
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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 - 1/17/2024 5:22:21 PM
G - Pulled back today with higher (near average) volume. Still consolidating near its all-time high. Its 50 DMA line ($512) 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 |
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News |
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C
A
S
I |
AMPH
-
NASDAQ
Amphastar Pharm
Medical-Biomed/Biotech
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$56.43
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+0.29
0.52% |
$56.45
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283,502
56.47% of 50 DAV
50 DAV is 502,000
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$67.66
-16.60%
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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 - 1/16/2024 2:31:45 PM
G - Still lingering below its 50 DMA line ($56.71) after 5 consecutive volume-driven losses. 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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C
A
S
I |
TBBK
-
NASDAQ
The Bancorp
Banks-Northeast
|
$38.10
|
+0.15
0.40% |
$38.44
|
241,734
61.04% of 50 DAV
50 DAV is 396,000
|
$42.46
-10.27%
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12/4/2023
|
$39.88
|
PP = $41.62
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MB = $43.70
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Most Recent Note - 1/12/2024 5:02:05 PM
G - Slumped back below its 50 DMA line ($39.08) with today's loss following 4 gains. 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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C
A
S
I |
LULU
-
NASDAQ
lululemon athletica
Retail-Apparel/Shoes/Acc
|
$477.45
|
+9.05
1.93% |
$478.46
|
1,417,125
94.73% of 50 DAV
50 DAV is 1,496,000
|
$516.39
-7.54%
|
12/8/2023
|
$490.61
|
PP = $485.93
|
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MB = $510.23
|
Most Recent Note - 1/16/2024 2:39:02 PM
Y - Slumping near its 50 DMA line ($464) which defines important near-term support to watch. Retreat below its 2021 high of $485 raised concerns, negating its recent breakout from a 2+ year base.
>>> FEATURED STOCK ARTICLE : Perched at All-Time High With Volume Totals Cooling - 12/27/2023 |
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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
|
$283.11
|
+6.84
2.48% |
$284.46
|
2,686,846
81.69% of 50 DAV
50 DAV is 3,289,000
|
$290.33
-2.49%
|
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 - 1/18/2024 4:55:55 PM
G - Perched near its all-time high with volume totals cooling after rallying above its "max buy" level. Faces no resistance due to overhead supply. Prior high in the $261 area defines initial support to watch on pullbacks. Fundamentals remain strong.
>>> 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
|
$156.38
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-6.72
-4.12% |
$161.57
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2,578,986
198.84% of 50 DAV
50 DAV is 1,297,000
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$164.71
-5.06%
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1/2/2024
|
$138.23
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PP = $153.63
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MB = $161.31
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Most Recent Note - 1/18/2024 12:37:08 PM
Y - Color code is changed to yellow with today's volume-driven loss bringing it back below the "max buy" level but also below the pivot point raising some concerns. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Pulled Back After Closing 3 Weeks Tight - 1/2/2024 |
View all notes |
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News |
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C
A
S
I |
KOF
-
NYSE
Coca-Cola Femsa ADR
Beverages-Non-Alcoholic
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$91.00
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+0.10
0.11% |
$91.89
|
115,468
80.75% of 50 DAV
50 DAV is 143,000
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$99.34
-8.40%
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1/12/2024
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$93.38
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PP = $99.34
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MB = $104.31
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Most Recent Note - 1/12/2024 5:00:19 PM
Y - Posted a solid volume-driven gaink today. Color code was changed to yellow as a valid secondary buy point was noted up to +5% above the recent high since finding support at its 10 WMA line after an earlier breakout. Found prompt support near prior highs in the $90 area and above its 50 DMA line. Its Relative Strength Rating is currently 81, just above the 80+ minimum guideline for buy candidates. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Secondary Buy Point Noted After Finding Support - 1/12/2024 |
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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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