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AFTER MARKET UPDATE - TUESDAY, JANUARY 30TH, 2018
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Indices NYSE Nasdaq
DOW  -362.59 26,076.89 -1.37% Volume 914,816,550 +10% Volume 2,175,498,670 +3%
NASDAQ -64.03 7,402.48 -0.86% Advancers 586 20% Advancers 742 25%
S&P 500 -31.10 2,822.43 -1.09% Decliners 2,403 80% Decliners 2,218 75%
Russell 2000 -15.29 1,582.82 -0.96% 52 Wk Highs 46   52 Wk Highs 49  
S&P 600 -9.73 964.61 -1.00% 52 Wk Lows 252   52 Wk Lows 65  

Leadership Thinned as Indices Retreated From Record Highs

Stocks fell sharply Tuesday. The Dow dropped 363 points to 26076. The S&P 500 declined 31 points to 2822. The Nasdaq Composite lost 64 points to 7402.  Volume totals reported were mixed, higher than the prior session total on the NYSE and lower on the Nasdaq exchange. Breadth was clearly negative as decliners led advancers by about a 4-1 margin on the NYSE and by nearly 2-1 on the Nasdaq exchangeNew 52-week highs totals abruptly contracted and were outnumbered by new 52-week lows on both the NYSE and the Nasdaq exchange. There were only 13 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, down from the total of 88 on the prior session.  ThFeatured Stocks Page provides the latest analysis on noteworthy high-ranked leaders.
 
Charts used courtesy of www.stockcharts.com

PICTURED: The Dow Jones Industrial Average is pulling back from its record high after making steady progress in January.  The major averages (M criteria) are in a confirmed uptrend.  Investors should only consider stocks meeting all key criteria of the fact-based investment system as they trigger technical buy signals.

The major averages experienced their largest declines since August attributed to profit taking after the strongest monthly rally since 1987. Investors also appeared cautious ahead of President Trump’s first State of the Union address tonight and the FOMC rate decision tomorrow afternoon. On the data front, U.S. home prices in the 20 largest U.S. cities increased 6.4% year-over-year in November, in line with estimates. Another release revealed consumer confidence unexpectedly increased more than projected in January.

Health Care shares led decliners after JP Morgan Chase & Co (JPM -0.94%) , Amazon (AMZN +1.42%), and Berkshire Hathaway (BRKB -0.49%) announced a partnership to reduce employee health care costs. UnitedHealth (UNH -4.35%), Express Scripts (ESRX -3.20%), and many other healthcare firms fell following the announcement. Energy shares also lagged as Newfield Exploration (NFX -4.98%) fell in sympathy with lower oil prices. Financials underperformed with Metlife (MET -8.58%) down after postponing its earnings release. Principal Financial Group (PFG  -8.05%) fell after missing fourth-quarter profit expectations. Utilities were the lone sector to finish in positive territory with Southern Company (SO +1.84%).

Treasuries finished lower with the yield on the 10-year note rising three basis points to 2.72%. In commodities, NYMEX WTI crude declined 1.9% to $64.33/barrel. COMEX gold slipped 0.3% to $1336.60/ounce.

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.


Financial, Retail, Tech and Commodity-Linked Groups Fell

On Tuesday the Retail Index ($RLX -0.40%), Bank Index ($BKX -0.95%), and the Broker/Dealer Index ($XBD -0.92%) fell. The Biotechnology Index ($BTK -1.58%) and Semiconductor Index ($SOX -2.03%) both fell, yet the Networking Index ($NWX -0.05%) finished flat. Commodity-linked groups were unanimously lower as the Gold & Silver Index ($XAU -1.03%), Integrated Oil Index ($XOI -2.24%) and the Oil Services Index ($OSX -1.74%) ended unanimously lower.

Charts courtesy wwwstockcharts.com

PICTURED: The Gold & Silver Index ($XAU -1.03%) is pulling back after challenging its September 2017 high.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  156.83 -2.78 -1.74% +4.87%
Integrated Oil $XOI  1,398.27 -32.06 -2.24% +4.70%
Semiconductor $SOX  1,350.44 -27.98 -2.03% +7.77%
Networking $NWX  512.24 -0.28 -0.05% +4.43%
Broker/Dealer $XBD  277.51 -2.56 -0.92% +4.63%
Retail $RLX  2,006.56 -8.15 -0.40% +15.73%
Gold & Silver $XAU  86.56 -0.91 -1.04% +1.51%
Bank $BKX  115.12 -1.10 -0.95% +7.88%
Biotech $BTK  4,861.69 -78.17 -1.58% +15.15%


Stalled After Recent Technical Breakout

Rogers Corp (ROG +$0.60 or +0.36% to $167.58) is consolidating above its 50-day moving average (DMA) line ($163.44) which defines important near-term support to watch. It encountered distributional pressure and stalled after recently rallying into new high territory.

It was highlighted in yellow with pivot point cited based on its 11/22/17 high plus 10 cents in the 12/29/17 mid-day report (read here). On the next session volume-driven gains above the pivot point triggered a technical buy signal from a riskier "late stage" base.

ROG was last shown in the 12/29/17 mid-day report with an annotated graph under the headline, "Hovering Near Prior High After 3rd Strong Quarterly Earnings". Recently the Chemicals - Plastics firm reported earnings +45% on +25% sales revenues for the Sep '17 quarter, its 3rd strong quarterly comparison above the +25% minimum guideline, helping it better match with the fact-based investment system's fundamental guidelines (C criteria). Annual earnings (A criteria) history has been good after a downturn in FY '12.

The number of high ranked funds owning its shares rose from 342 in Dec '16 to 415 in Dec '17. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of only 18.2 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling.
 
Charts used courtesy of www.stockcharts.com


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
THO - NYSE
Thor Industries Inc
AUTOMOTIVE - Recreational Vehicles  
$139.92 -1.05
-0.74%

$141.62

630,466
91.64% of 50 DAV
50 DAV is 688,000
$161.48
-13.35%
12/19/2017 $153.92 PP = $156.96
MB = $164.81
Most Recent Note - 1/29/2018 1:09:50 PM
G - Violated its 50 DMA line with damaging volume-driven losses last week triggering a technical sell signal. Color code was changed to green after action indicative of distributional pressure. Only a prompt rebound above the 50 DMA line ($149.67) would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Damaging Losses Hurt Companies That Make Recreational Vehicles - 1/26/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
ROG - NYSE
Rogers Corp
CONSUMER NON-DURABLES - Rubber and Plastics  
$167.58 +0.60
0.36%

$168.69

66,160
41.87% of 50 DAV
50 DAV is 158,000
$184.00
-8.92%
12/29/2017 $162.92 PP = $168.17
MB = $176.58
Most Recent Note - 1/30/2018 7:12:24 PM
Y - Recently stalled and it is quietly consolidating above its 50 DMA line ($163.44) which defines important near-term support to watch. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Stalled After Recent Technical Breakout - 1/30/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
TPL - NYSE
Texas Pacific Land Trust
FINANCIAL SERVICES - Diversified Investments  
$539.56 -11.21
-2.04%

$548.80

17,682
110.51% of 50 DAV
50 DAV is 16,000
$569.99
-5.34%
12/21/2017 $419.50 PP = $435.09
MB = $456.84
Most Recent Note - 1/29/2018 6:34:52 PM
G - Finished at the session high with today's gain backed by above average volume. Consolidating after getting very extended from the previously noted base. Prior highs in the $434 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Considerable Gains in First 2-3 Weeks After Recent Breakout - 1/23/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
YY - NASDAQ
YY Inc
INTERNET - Internet Service Providers  
$132.57 -4.14
-3.03%

$133.01

1,540,851
103.76% of 50 DAV
50 DAV is 1,485,000
$142.97
-7.27%
12/29/2017 $113.06 PP = $123.58
MB = $129.76
Most Recent Note - 1/30/2018 7:16:53 PM
G - Finished near its session high after a gap down deep early losses today tested prior highs in the $123 area. Its 50 DMA line ($118.96) defines the next support to watch on pullbacks. This China-based Internet - Content firm's fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Touched a New High But Ended Below New Pivot Point Cited - 1/4/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
HTHT - NASDAQ
China Lodging Group Ads
LEISURE - Lodging  
$150.56 +0.85
0.57%

$151.78

411,827
57.68% of 50 DAV
50 DAV is 714,000
$166.19
-9.40%
12/22/2017 $138.07 PP = $142.90
MB = $150.05
Most Recent Note - 1/29/2018 12:42:56 PM
G - Abruptly dipped and briefly undercut its 50 DMA line ($135.49) then promptly rebounded from early lows. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Found Support Above Prior High After Latest Breakout - 1/24/2018
 |  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
PETS - NASDAQ
Petmed Express Inc
RETAIL - Drug Stores  
$46.72 -1.54
-3.19%

$48.13

632,257
90.58% of 50 DAV
50 DAV is 698,000
$57.80
-19.17%
1/19/2018 $53.59 PP = $51.00
MB = $53.55
Most Recent Note - 1/30/2018 7:09:56 PM
Y - Consolidating above its 50 DMA line ($45.28) after a "negative reversal" on 1/22/18 following earnings news. Reported earnings +83% on +14% sales revenues, continuing its strong earnings track record.
>>> FEATURED STOCK ARTICLE : Strong Finish Ahead of Earnings News Next Week - 1/19/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
PATK - NASDAQ
Patrick Industries Inc
Bldg-Mobile/Mfg and RV  
$66.85 +0.75
1.13%

$67.20

177,542
98.85% of 50 DAV
50 DAV is 179,600
$72.35
-7.60%
10/26/2017 $90.90 PP = $87.90
MB = $92.30
Most Recent Note - 1/26/2018 12:57:19 PM
G - Abruptly retreating from its all-time high, undercutting its 50 DMA line ($66.20) with today's considerable volume-driven loss raising concerns. Extended from any sound base, yet it found prompt support last week while testing prior highs in the $64 area and its 50 DMA line. Shares split 3/2 effective 12/11/17.
>>> FEATURED STOCK ARTICLE : Pulled Back From Record High With Higher Volume - 1/10/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
ESNT - NYSE
Essent Group Ltd
Finance-MrtgandRel Svc  
$47.20 -0.24
-0.51%

$47.46

445,824
63.37% of 50 DAV
50 DAV is 703,500
$50.08
-5.75%
10/9/2017 $39.75 PP = $41.54
MB = $43.62
Most Recent Note - 1/29/2018 6:20:55 PM
G - Its 50 DMA line ($45.87) and recent lows in the $43.00 area define important support to watch..Its Relative Strength rating has slumped to 79, but it is still only -5.3% off its high.
>>> FEATURED STOCK ARTICLE : Perched Near High After Brief Consolidation Below 50 DMA Line - 1/9/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
FIVE - NASDAQ
Five Below Inc
Retail-DiscountandVariety  
$65.38 -0.56
-0.85%

$66.26

737,973
62.59% of 50 DAV
50 DAV is 1,179,000
$73.55
-11.11%
1/2/2018 $69.16 PP = $68.99
MB = $72.44
Most Recent Note - 1/26/2018 3:59:36 PM
Y - Consolidating in a tight range in recent weeks with volume totals cooling. Its 50 DMA line ($65.22) and recent low ($64.73 on 1/10/18) define important near term support where violations may trigger technical sell signals. Fundamentals remain very strong.
>>> FEATURED STOCK ARTICLE : Consolidating After Negating Breakout From Advanced Base - 1/17/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
MDXG - NASDAQ
MiMedx Group Inc
Medical-Products  
$17.70 -0.26
-1.45%

$18.03

2,182,008
116.31% of 50 DAV
50 DAV is 1,876,000
$18.25
-3.01%
1/29/2018 $17.43 PP = $17.57
MB = $18.45
Most Recent Note - 1/29/2018 6:01:20 PM
Y - Finished in the upper third of its intra-day range with a gain backed by +119% above average volume triggering a technical buy signal. Earnings increases in the 3 latest quarterly comparisons through Sep '17 were above the +25% minimum guideline (C criteria). See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Hit a New High With it 6th Consecutive Gain - 1/29/2018
 |  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
ANET - NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment  
$275.23 -2.76
-0.99%

$276.58

1,358,223
175.71% of 50 DAV
50 DAV is 773,000
$284.76
-3.35%
1/8/2018 $248.88 PP = $245.75
MB = $258.04
Most Recent Note - 1/30/2018 12:46:31 PM
G - Rebounded promptly after a sharp pullback at the open briefly undercut its "max buy" level. Prior highs in the $245 area define initial support to watch above its 50 DMA line ($242.70).
>>> FEATURED STOCK ARTICLE : Encountering Distributional Pressure After Wedging Near Prior High - 1/2/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
PAYC - NYSE
Paycom Software Inc
COMPUTER SOFTWARE and SERVICES - Application Software  
$91.40 -1.25
-1.35%

$93.00

504,122
87.07% of 50 DAV
50 DAV is 579,000
$93.61
-2.36%
1/12/2018 $87.93 PP = $86.20
MB = $90.51
Most Recent Note - 1/24/2018 5:25:30 PM
G - Encountered distributional pressure with a loss on higher volume today while retreating from its all-time high hit on the prior session. Prior highs near $86 define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Finished Strong With Big Gain on +118% Above Average Volume - 1/12/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
GRUB - NYSE
Grubhub Inc
COMPUTER SOFTWARE and SERVICES - Technical and System Software  
$72.72 -2.70
-3.58%

$72.89

2,238,653
180.39% of 50 DAV
50 DAV is 1,241,000
$77.99
-6.75%
6/21/2017 $47.33 PP = $46.94
MB = $49.29
Most Recent Note - 1/29/2018 12:38:46 PM
G - Hit another new all-time high today. Big volume-driven gain on Friday cleared a short flat base during which it found prompt support near its 50 DMA line. The 2 latest quarterly comparisons were below the +25% minimum earnings guideline, so fundamental concerns were raised and noted before.
>>> FEATURED STOCK ARTICLE : Prompt Rebound Above 50-Day Moving Average Helped Outlook - 1/11/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
IBP - NYSE
Installed Building Prod
DIVERSIFIED SERVICES - Business/Management Services  
$73.90 +0.40
0.54%

$74.30

189,194
104.53% of 50 DAV
50 DAV is 181,000
$79.40
-6.93%
12/26/2017 $75.00 PP = $79.50
MB = $83.48
Most Recent Note - 1/24/2018 5:14:56 PM
Y - Quietly consolidating just above its 50 DMA line ($73.18). Below that important short-term average the recent lows ($72.30 on 1/16/18 and $68.30 on 12/13/17) define the next important support levels where violations may trigger more worrisome technical sell signals. Subsequent volume-driven gains for new highs may trigger a new (or add-on) technical buy signal.
>>> FEATURED STOCK ARTICLE : Quietly Consolidating Near 50-Day Moving Average Line - 1/25/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
OLLI - NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety  
$55.75 -2.55
-4.37%

$58.40

681,093
111.11% of 50 DAV
50 DAV is 613,000
$58.50
-4.70%
11/21/2017 $46.78 PP = $47.00
MB = $49.35
Most Recent Note - 1/30/2018 7:07:37 PM
G - Pulled back from its all-time high after getting very extended from any sound base. Its 50 DMA line ($51.61) and recent low ($50.15 on 1/04/18) define important near-term support above prior highs in the $46 area. Fundamentals remain very strong.
>>> FEATURED STOCK ARTICLE : Bargain Outlet Looked Expensive Before +114% Rally in 18 Months - 1/18/2018
 |  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
WB - NASDAQ
Weibo Corp Cl A Ads
INTERNET - Content  
$128.59 -3.55
-2.69%

$130.00

1,829,701
108.65% of 50 DAV
50 DAV is 1,684,000
$136.19
-5.58%
1/16/2018 $126.33 PP = $122.21
MB = $128.32
Most Recent Note - 1/29/2018 1:13:54 PM
G - Perched near its all-time high today after wedging higher with recent gains lacking great volume conviction. Prior highs in the $123 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Close in Session's Lower Third a Sign of Distributional Pressure - 1/16/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
HLI - NYSE
Houlihan Lokey Inc Cl A
Finance-Invest Bnk/Bkrs  
$49.87 -1.20
-2.35%

$52.81

539,685
293.31% of 50 DAV
50 DAV is 184,000
$51.79
-3.71%
1/3/2018 $45.88 PP = $47.09
MB = $49.44
Most Recent Note - 1/30/2018 1:11:56 PM
G - Reported earnings +21% on +5% sales revenues for the Dec '17 quarter, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. Hit a new all-time high today and reversed into the red. Extended from any sound base, its 50 DMA line ($46.52) defines near-term support to watch on pullbacks. On 10/26/17 it completed a Secondary Offering.
>>> FEATURED STOCK ARTICLE : Tight Weekly Closes Formed Advanced Base Pattern - 1/3/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
ICHR - NASDAQ
Ichor Holdings Ltd
ELECTRONICS - Semiconductor Equipment  
$32.22 -1.09
-3.27%

$32.81

793,069
60.82% of 50 DAV
50 DAV is 1,304,000
$35.51
-9.26%
1/22/2018 $34.00 PP = $35.61
MB = $37.39
Most Recent Note - 1/26/2018 10:46:37 AM
Y - Perched within striking distance of its 52-week high. New pivot point cited was based on its 10/20/17 high plus 10 cents in the 1/22/18 mid-day report (read here). Very little overhead supply remains. Subsequent gains above the pivot point backed by at least +40% above average volume are still needed to trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Found Support at 200 Day Average and Rebounded Near Prior High - 1/22/2018
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 

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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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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