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AFTER MARKET UPDATE - FRIDAY, JANUARY 26TH, 2024
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DOW |
+60.30 |
38,109.43 |
+0.16% |
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Volume |
758,795,865 |
-18% |
|
Volume |
4,594,886,500 |
-14% |
|
NASDAQ |
-55.13 |
15,455.36 |
-0.36% |
|
Advancers |
1,588 |
58% |
|
Advancers |
2,184 |
52% |
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S&P 500 |
-3.19 |
4,890.97 |
-0.07% |
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Decliners |
1,163 |
42% |
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Decliners |
2,024 |
48% |
|
Russell 2000 |
+2.45 |
1,978.33 |
+0.12% |
|
52 Wk Highs |
140 |
|
|
52 Wk Highs |
137 |
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S&P 600 |
+2.22 |
1,290.07 |
+0.17% |
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52 Wk Lows |
12 |
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52 Wk Lows |
75 |
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Major Indices Ended Mixed Lighter Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices ended little changed and with mixed results on Friday as the S&P 500 (-0.1%) and Nasdaq Composite (-0.4%) both edged lower while the Dow Jones Industrial Average (+0.2%) and Russell 2000 (+0.1%) closed with slim gains. Volume was reported lighter than the prior session total on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by a 5-4 margin on the NYSE and by a narrower margin 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 versus 53 on the prior session. New 52-week highs totals 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 S&P 500 Index paused at an all-time high after 12 gains in the past 13 weeks.
The December Personal Income and Spending report showed strong consumer spending while inflation moved closer to the Fed's 2.0% target. Pending home sales were also much stronger than expected in December.
Disappointing guidance from Intel (INTC -11.91%) and KLA Corporation (KLAC -6.60%) created a drag on the PHLX Semiconductor Index (SOX) which dropped -2.9%. Microsoft (MSFT -0.23%), Apple (AAPL -0.90%), and NVIDIA (NVDA -0.95%) each lost ground, and those tech names are the three weightiest S&P 500 constituents.
A big earnings-related gain for American Express (AXP +7.10%) contributed to the positive bias. The S&P 500 financial sector (+0.3%) rose, yet other sectors that outperformed included the energy (+0.8%), health care (+0.6%), and consumer discretionary (+0.6%) sectors. The information technology sector was the worst performer by a wide margin, dropping -1.1%.
Treasuries settled with losses as the 10-yr note yield rose three basis points to 4.16% and the 2-yr note yield rose four basis points to 4.36%.
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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, Financial and Energy-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.82%) finished higher and the financial indexes also rose as the Broker/Dealer Index ($XBD +0.44%) and the Bank Index ($BKX +0.19%) both posted small gains. The tech sector had a negative bias as the Semiconductor Index ($SOX -2.91%) clearly outpaced the Biotech Index ($BTK -0.33%) and the Networking Index ($NWX -0.20%) to the downside. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU -0.37%) ended slightly lower while the Oil Services Index ($OSX +0.93%) and the Integrated Oil Index ($XOI +0.91%) both posted gains.
PICTURED: The Broker/Dealer Index ($XBD +0.44%) posted a small gain while consolidating above its 50-day moving average line.
| Oil Services |
$OSX |
84.15 |
+0.63 |
+0.75% |
+0.33% |
| Integrated Oil |
$XOI |
1,876.69 |
+17.21 |
+0.93% |
+0.76% |
| Semiconductor |
$SOX |
4,342.10 |
-130.15 |
-2.91% |
+3.99% |
| Networking |
$NWX |
861.15 |
-1.71 |
-0.20% |
+3.40% |
| Broker/Dealer |
$XBD |
549.41 |
+2.43 |
+0.44% |
-1.41% |
| Retail |
$RLX |
4,020.69 |
+32.82 |
+0.82% |
+3.39% |
| Gold & Silver |
$XAU |
113.74 |
-0.42 |
-0.37% |
-9.51% |
| Bank |
$BKX |
96.40 |
+0.18 |
+0.19% |
+0.39% |
| Biotech |
$BTK |
5,176.72 |
-17.24 |
-0.33% |
-4.47% |
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Volume-Driven Breakout Triggered Buy Signal After Earnings Report
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bancorp (TBBK +$3.16 or +7.80% to $43.65) powered above its pivot point to a new all-time high with today's gain backed +86% above average volume. Bullish action came after it reported Dec '23 quarterly earnings +34% on +16% sales revenues versus the year-ago period. Volume and volatility often increase near earnings news. The gain and strong close above the pivot point triggered a proper technical buy signal. TBBK was highlighted in yellow with pivot point cited based on its 7/27/23 high plus 10 cents in the 12/04/23 mid-day report (read here). It last appeared in this FSU section on 12/22/23 with an annotated graph under the headline, "Negative Reversals are Signs of Distributional Pressure". Quarterly earnings increases above the +25% guideline satisfy the C criteria. Its annual earnings (A criteria) history has been steadily improving. The number of top-rated funds owning its shares rose from 422 in Sep '12 to 463 in Dec '23, a reassuring sign concerning the I criteria. Its small supply (S criteria) of only 51 million shares in the public float can contribute to greater price volatility in the event of institutional buying or selling. |
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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
-
NYSE
Arista Networks
Computer-Networking
|
$264.40
|
-0.02
-0.01% |
$266.63
|
1,358,043
84.25% of 50 DAV
50 DAV is 1,612,000
|
$270.63
-2.30%
|
10/31/2023
|
$188.84
|
PP = $198.80
|
|
MB = $208.74
|
Most Recent Note - 1/24/2024 7:11:55 PM
G - Churned higher volume today while hovering near its all-time high, extended from any sound base. Its 50 DMA line ($231.59) defines near-term support above the prior low ($226.60 on 1/04/24) area. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Base and Hovering at All-Time High - 12/26/2023 |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
|
$108.07
|
+2.39
2.26% |
$108.20
|
5,525,792
135.80% of 50 DAV
50 DAV is 4,069,000
|
$108.98
-0.84%
|
11/2/2023
|
$100.97
|
PP = $104.10
|
|
MB = $109.31
|
Most Recent Note - 1/26/2024 6:34:15 PM
Y - Posted a gain today backed by +36% above average volume for its second-best-ever close. The recent low ($103.38 on 1/23/24) defines important near-term support nearly coinciding with its 50 DMA line ($102.64).
>>> FEATURED STOCK ARTICLE : Gap Up Gain on Prior Session Triggered Technical Buy Signal - 1/5/2024 |
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C
A
S
I |
QLYS
-
NASDAQ
Qualys
Computer Sftwr-Security
|
$188.76
|
-4.34
-2.25% |
$193.50
|
522,489
147.18% of 50 DAV
50 DAV is 355,000
|
$206.35
-8.52%
|
1/24/2024
|
$196.27
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PP = $206.45
|
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MB = $216.77
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Most Recent Note - 1/26/2024 6:30:21 PM
G - Violated its 50 DMA line ($190) with today's loss backed by above-average volume triggering a technical sell signal. Color code is changed to green. Only a prompt rebound above the 50 DMA line would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Posted Light Volume Gain Finding Support at 50-Day Moving Average - 1/8/2024 |
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C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
|
$251.33
|
-1.37
-0.54% |
$254.06
|
256,669
66.32% of 50 DAV
50 DAV is 387,000
|
$262.95
-4.42%
|
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 |
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C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
|
$1,082.48
|
+3.61
0.33% |
$1,089.97
|
244,527
121.66% of 50 DAV
50 DAV is 201,000
|
$1,080.95
0.14%
|
12/12/2023
|
$1,000.39
|
PP = $1,013.18
|
|
MB = $1,063.84
|
Most Recent Note - 1/25/2024 5:44:15 PM
G - Posted again today and color code is changed to green as it rose above its "max buy" level for a new all-time high with a volume-driven gain. Prior highs in the $1,013-1,015 area define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Inching to New Highs With 6th Consecutive Gain - 1/11/2024 |
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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
|
$342.44
|
+2.25
0.66% |
$344.30
|
2,164,394
49.89% of 50 DAV
50 DAV is 4,338,000
|
$350.60
-2.33%
|
1/10/2024
|
$313.65
|
PP = $318.00
|
|
MB = $333.90
|
Most Recent Note - 1/24/2024 6:58:39 PM
Y - Perched near its all-time high, stubbornly holding its ground with recent volume totals below average. 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 : Paused After 6 Gains to a New All-Time High - 1/17/2024 |
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C
A
S
I |
URI
-
NYSE
United Rentals
Comml Svcs-Leasing
|
$630.75
|
-20.89
-3.21% |
$653.21
|
1,423,529
201.35% of 50 DAV
50 DAV is 707,000
|
$658.51
-4.22%
|
1/24/2024
|
$576.90
|
PP = $585.60
|
|
MB = $614.88
|
Most Recent Note - 1/26/2024 6:31:16 PM
C - Pulled back today with above-average volume. Color code was changed to green after it gapped up on the prior session and rallied to a new all-time high (and above the "max buy" level) with heavy volume triggering a technical buy signal. Reported Dec '23 quarterly earnings +16% on +13% sales revenues versus the year-ago period, below the +25% minimum earnings guideline (C criteria) raising fundamental concerns. Its prior low ($533.70) and 50 DMA line define near-term support to watch.
>>> FEATURED STOCK ARTICLE : Negative Reversal After New High for United Rentals - 1/24/2024 |
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C
A
S
I |
AMPH
-
NASDAQ
Amphastar Pharm
Medical-Biomed/Biotech
|
$53.85
|
+0.61
1.15% |
$54.60
|
538,203
113.07% of 50 DAV
50 DAV is 476,000
|
$67.66
-20.41%
|
12/4/2023
|
$60.84
|
PP = $58.35
|
|
MB = $61.27
|
Most Recent Note - 1/25/2024 5:39:07 PM
G - Quietly slumped further below its 50 DMA line toward its 200 DMA line. A rebound above the 50 DMA line ($57.76) is needed for its outlook to improve. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Quietly Sinking Toward 200-Day Moving Average Line - 1/25/2024 |
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C
A
S
I |
TBBK
-
NASDAQ
The Bancorp
Banks-Northeast
|
$43.65
|
+3.16
7.80% |
$44.18
|
772,862
186.68% of 50 DAV
50 DAV is 414,000
|
$42.46
2.80%
|
1/22/2024
|
$40.87
|
PP = $42.56
|
|
MB = $44.69
|
Most Recent Note - 1/26/2024 6:28:01 PM
Y - Powered above its pivot point to a new all-time high with today's gain backed by +86% above average volume triggering a technical buy signal. Bullish action came after it reported Dec '23 quarterly earnings +34% on +16% sales revenues versus the year-ago period. Volume and volatility often increase near earnings news. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Volume-Driven Breakout Triggered Buy Signal After Earnings Report - 1/26/2024 |
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C
A
S
I |
LULU
-
NASDAQ
lululemon athletica
Retail-Apparel/Shoes/Acc
|
$478.03
|
+3.73
0.79% |
$484.31
|
1,128,025
74.26% of 50 DAV
50 DAV is 1,519,000
|
$516.39
-7.43%
|
12/8/2023
|
$490.61
|
PP = $485.93
|
|
MB = $510.23
|
Most Recent Note - 1/23/2024 8:11:28 PM
Y - Still consolidating just above its 50 DMA line ($471) 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
|
$290.31
|
-3.15
-1.07% |
$293.75
|
2,808,782
81.79% of 50 DAV
50 DAV is 3,434,000
|
$307.55
-5.61%
|
1/2/2024
|
$246.42
|
PP = $261.91
|
|
MB = $275.01
|
Most Recent Note - 1/25/2024 5:40:57 PM
G - Extended from any sound base and it pulled back from its all-time high with today's volume-driven loss. Prior high in the $261 area defines initial support to watch above its 50 DMA line ($249). 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
|
$157.14
|
+0.59
0.38% |
$159.55
|
591,308
41.41% of 50 DAV
50 DAV is 1,428,000
|
$164.71
-4.60%
|
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 |
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C
A
S
I |
KOF
-
NYSE
Coca Cola Femsa Sab Ads
FOOD and BEVERAGE - Beverages - Soft Drinks
|
$91.92
|
+0.95
1.04% |
$93.12
|
177,205
127.95% of 50 DAV
50 DAV is 138,500
|
$99.34
-7.47%
|
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 |
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C
A
S
I |
PCAR
-
NASDAQ
Paccar
Trucks and Parts-Hvy Duty
|
$101.76
|
-0.25
-0.25% |
$103.35
|
2,057,724
89.78% of 50 DAV
50 DAV is 2,292,000
|
$103.40
-1.59%
|
1/23/2024
|
$100.35
|
PP = $98.57
|
|
MB = $103.50
|
Most Recent Note - 1/24/2024 7:02:14 PM
Y - Paused today after 6 consecutive gains. Triggered a technical buy signal on the prior session with a considerable gain backed by +153% above average volume. Reported Dec '23 quarterly earnings +53% on +11% sales revenues versus the year-ago period, its 9th quarterly comparison with better than the +25% minimum earnings guideline (C criteria). There was a downturn in FY' 20 annual earnings (A criteria) like many companies during the pandemic.
>>> FEATURED STOCK ARTICLE : Volume-Driven Breakout for Paccar - 1/23/2024 |
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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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