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AFTER MARKET UPDATE - MONDAY, JANUARY 22ND, 2024
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DOW |
+138.01 |
38,001.81 |
+0.36% |
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Volume |
1,025,132,601 |
+143% |
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Volume |
5,516,979,700 |
+39% |
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NASDAQ |
+49.32 |
15,360.29 |
+0.32% |
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Advancers |
2,123 |
76% |
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Advancers |
2,964 |
68% |
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S&P 500 |
+10.62 |
4,850.43 |
+0.22% |
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Decliners |
676 |
24% |
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Decliners |
1,370 |
32% |
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Russell 2000 |
+38.99 |
1,983.38 |
+2.01% |
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52 Wk Highs |
168 |
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52 Wk Highs |
279 |
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S&P 600 |
+24.30 |
1,294.64 |
+1.91% |
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52 Wk Lows |
34 |
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52 Wk Lows |
155 |
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Major Indexes Rose and Small Cap Indexes Posted Larger Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 Index hit a fresh all-time high as the major averages each edged higher. The small cap indexes outpaced their peers thanks to leadership in financial and oil services. Volume was reported slightly higher than the prior session total on the NYSE and lower on the Nasdaq exchange. Advancers led decliners by more than a 3-1 margin on the NYSE and by more than a 2-1 margin on the Nasdaq exchange. There were 139 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page. New 52-week highs outnumbered new 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 Nasdaq Composite Index is hitting new multi-year highs.
Shares of Archer-Daniels (ADM -24.20%) plunged following news that its Nutrition segment accounting practices are being reviewed, and its CFO was placed on leave. Meta Platforms (META -0.44%), Amazon.com (AMZN -0.36%), Microsoft (MSFT -0.54%), and Alphabet (GOOG -0.18%) each edged lower. Tesla (TSLA -1.60%) was an influential laggard. meanwhile, gains in Apple (AAPL +1.22%) and NVIDIA (NVDA +0.27%) helped offset broader weakness.
The S&P 500 information technology sector (+0.4%), industrials (+0.7%), real estate (+0.4%), and financials (+0.4%) rose. The consumer discretionary sector (-0.5%) saw the steepest decline. The 2-yr note yield declined three basis points today to 4.38% and the 10-yr note yield fell five basis points to 4.09%.
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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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Financial, Networking, and Oil Services Indexes Led Group Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.91%) and the Bank Index ($BKX +0.78%) both posted gains while the Retail Index ($RLX -0.32%) edged lower. The tech sector had a positive bias as the Networking Index ($NWX +0.97%) outpaced the Semiconductor Index ($SOX +0.25%) and the Biotech Index ($BTK +0.32%). The Gold & Silver Index ($XAU -0.21%) ended slightly in the red while the Integrated Oil Index ($XOI +0.31%) edged higher and the Oil Services Index ($OSX +1.75%) posted a solid gain.
PICTURED: The Retail Index ($RLX -0.32%) is perched at multi-year highs.
| Oil Services |
$OSX |
79.72 |
+1.37 |
+1.75% |
-4.96% |
| Integrated Oil |
$XOI |
1,793.76 |
+5.48 |
+0.31% |
-3.69% |
| Semiconductor |
$SOX |
4,386.60 |
+10.95 |
+0.25% |
+5.06% |
| Networking |
$NWX |
859.84 |
+8.24 |
+0.97% |
+3.25% |
| Broker/Dealer |
$XBD |
544.43 |
+4.91 |
+0.91% |
-2.31% |
| Retail |
$RLX |
3,959.76 |
-14.28 |
-0.36% |
+1.83% |
| Gold & Silver |
$XAU |
112.70 |
-0.24 |
-0.21% |
-10.34% |
| Bank |
$BKX |
94.84 |
+0.73 |
+0.78% |
-1.23% |
| Biotech |
$BTK |
5,218.73 |
+16.76 |
+0.32% |
-3.69% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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 | $266.60 | +3.09
1.17% | $270.63 | 1,467,277
88.50% of 50 DAV
50 DAV is 1,658,000 | $265.00
0.60%
| 10/31/2023 | $188.84 | PP = $198.80 | | MB = $208.74 | 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 | Request a new note C A S I | NVO - NYSE
Novo Nordisk ADR
Medical-Ethical Drugs | $105.49 | -1.47
-1.37% | $106.61 | 2,905,605
69.41% of 50 DAV
50 DAV is 4,186,000 | $108.98
-3.20%
| 11/2/2023 | $100.97 | PP = $104.10 | | MB = $109.31 | 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 | 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 | $197.94 | +1.57
0.80% | $201.03 | 381,831
105.19% of 50 DAV
50 DAV is 363,000 | $206.35
-4.08%
| 11/3/2023 | $167.50 | PP = $165.03 | | MB = $173.28 | 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 | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | AXON - NASDAQ
Axon Enterprise
Security/Sfty | $259.72 | +2.93
1.14% | $262.95 | 302,655
67.71% of 50 DAV
50 DAV is 447,000 | $260.69
-0.37%
| 11/8/2023 | $127.84 | PP = $223.30 | | MB = $234.47 |  Most Recent Note - 1/22/2024 5:46:57 PM
G - Posted a 4th consecutive gain with below-average volume and hit a new all-time high. Its 50-day moving average (DMA) line ($241) defines near-term support above prior highs in the $229-231 area.
>>> 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 | $1,072.21 | +15.08
1.43% | $1,074.25 | 200,050
92.19% of 50 DAV
50 DAV is 217,000 | $1,059.95
1.16%
| 12/12/2023 | $1,000.39 | PP = $1,013.18 | | MB = $1,063.84 | 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 | 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 | $345.64 | +7.90
2.34% | $350.60 | 3,493,739
80.13% of 50 DAV
50 DAV is 4,360,000 | $340.40
1.54%
| 1/10/2024 | $313.65 | PP = $318.00 | | MB = $333.90 | 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 | SEC News | Chart | Request a new note C A S I | URI - NYSE
United Rentals
Comml Svcs-Leasing | $578.88 | +6.85
1.20% | $585.94 | 606,838
93.22% of 50 DAV
50 DAV is 651,000 | $585.50
-1.13%
| 12/1/2023 | $499.51 | PP = $488.73 | | MB = $513.17 | 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 | SEC News | Chart | Request a new note C A S I | AMPH - NASDAQ
Amphastar Pharm
Medical-Biomed/Biotech | $55.91 | +0.87
1.58% | $56.57 | 289,724
57.48% of 50 DAV
50 DAV is 504,000 | $67.66
-17.37%
| 12/4/2023 | $60.84 | PP = $58.35 | | MB = $61.27 | 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 | Company Profile | SEC News | Chart | Request a new note C A S I | TBBK - NASDAQ
The Bancorp
Banks-Northeast | $40.87 | +1.75
4.47% | $40.91 | 477,587
122.46% of 50 DAV
50 DAV is 390,000 | $42.46
-3.74%
| 1/22/2024 | $40.87 | PP = $42.56 | | MB = $44.69 | Most Recent Note - 1/22/2024 5:56:39 PM
Y - With today''s big volume-driven gain it rebounded above the 50 DMA line ($39.11) helping its outlook to improve. Its color code is changed to yellow and a new pivot point is cited based on its 12/20/23 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
>>> 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 | $481.89 | -2.13
-0.44% | $483.30 | 907,334
60.09% of 50 DAV
50 DAV is 1,510,000 | $516.39
-6.68%
| 12/8/2023 | $490.61 | PP = $485.93 | | 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 | 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 | $298.76 | +8.22
2.83% | $302.00 | 4,207,567
127.54% of 50 DAV
50 DAV is 3,299,000 | $290.85
2.72%
| 1/2/2024 | $246.42 | PP = $261.91 | | MB = $275.01 | Most Recent Note - 1/22/2024 12:24:18 PM
G - Extended from any sound base and hitting another new all-time high with today's 3rd consecutive gain. 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 | 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 | $153.86 | -3.93
-2.49% | $154.27 | 11,973,777
930.36% of 50 DAV
50 DAV is 1,287,000 | $164.71
-6.59%
| 1/2/2024 | $138.23 | PP = $153.63 | | MB = $161.31 | Most Recent Note - 1/22/2024 12:28:29 PM
Y - Rebounded from the early low today but pulled back below the pivot point with recent losses raising some concerns. Fundamentals remain strong.
>>> 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 | KOF - NYSE
Coca-Cola Femsa ADR
Beverages-Non-Alcoholic | $89.75 | -1.29
-1.42% | $91.55 | 104,747
74.82% of 50 DAV
50 DAV is 140,000 | $99.34
-9.65%
| 1/12/2024 | $93.38 | PP = $99.34 | | MB = $104.31 | Most Recent Note - 1/22/2024 5:52:23 PM
Y - Pulled back with light volume testing its 50 DMA line ($89.56). 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. Its Relative Strength Rating is currently 80, right at the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Secondary Buy Point Noted After Finding Support - 1/12/2024 | 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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only to active Paid Premium Members.
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