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AFTER MARKET UPDATE - THURSDAY, FEBRUARY 1ST, 2024
Previous After Market Report Next After Market Report >>>
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DOW |
+369.54 |
38,519.84 |
+0.97% |
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Volume |
997,224,017 |
-23% |
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Volume |
5,141,641,500 |
-13% |
|
NASDAQ |
+197.63 |
15,361.64 |
+1.30% |
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Advancers |
2,175 |
78% |
|
Advancers |
2,799 |
65% |
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S&P 500 |
+60.54 |
4,906.19 |
+1.25% |
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Decliners |
620 |
22% |
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Decliners |
1,493 |
35% |
|
Russell 2000 |
+27.08 |
1,974.42 |
+1.39% |
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52 Wk Highs |
129 |
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52 Wk Highs |
110 |
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S&P 600 |
+14.50 |
1,279.69 |
+1.15% |
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52 Wk Lows |
29 |
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52 Wk Lows |
132 |
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Breadth Positive as Major Indices Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow Jones Industrial Average (+1.0%), S&P 500 (+1.3%), Nasdaq Composite (+1.3%), and Russell 2000 (+1.4%) all closed near their best levels of the session with solid gains. Volume was reported lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by more than a 3-1 margin on the NYSE and by almost a 2t-1 margin on the Nasdaq exchange. There were 67 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page versus 68 on the prior session. New 52-week highs totals outnumbered new lows on the NYSE while new highs and lows were evenly matched 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 Dow Jones Industrial Average rose for a best-ever close.
23 of the 30 Dow components closed with gains. Merck (MRK +4.64%) rose after reporting better than expected earnings and above-consensus FY24 EPS guidance. Eight of the 11 S&P 500 sectors gained more than 1.0%, led by the consumer discretionary (+2.0%), consumer staples (+2.0%), and utilities (+1.9%) sectors. The energy sector (-0.1%) fell alongside oil prices ($73.78/bbl -$2.02, -2.7%).
New York Community Bank (NYCB -11.13%) fell after cutting its dividend due in part to weakness in its commercial real estate portfolio. The 10-yr note yield fell ten basis points to 3.86% and the 2-yr note yield fell four basis points to 4.19%.
The January Employment Situation report will be released Friday at 8:30 ET.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver, Retail, and Tech Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +2.50%) posted a solid gain while the Broker/Dealer Index ($XBD +0.31%) posted a smaller gain but the Bank Index ($BKX -1.73%) ended lower. The tech sector had a positive bias as the Semiconductor Index ($SOX +0.46%), Biotech Index ($BTK +1.04%) and the Networking Index ($NWX +1.09%) posted unanimous gains. The Gold & Silver Index ($XAU +3.52%) posted a standout gain while the Oil Services Index ($OSX -0.24%) and the Integrated Oil Index ($XOI +0.04%) both were little changed.
![]() PICTURED: The Biotech Index ($BTK +1.04%) posted a gain rebounding near its 50-day and 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
80.51 |
-0.19 |
-0.24% |
-4.02% |
| Integrated Oil |
$XOI |
1,873.30 |
+0.68 |
+0.04% |
+0.58% |
| Semiconductor |
$SOX |
4,280.48 |
+19.56 |
+0.46% |
+2.52% |
| Networking |
$NWX |
841.32 |
+9.06 |
+1.09% |
+1.02% |
| Broker/Dealer |
$XBD |
539.44 |
+1.67 |
+0.31% |
-3.20% |
| Retail |
$RLX |
4,047.30 |
+98.57 |
+2.50% |
+4.08% |
| Gold & Silver |
$XAU |
117.54 |
+4.00 |
+3.52% |
-6.49% |
| Bank |
$BKX |
94.06 |
-1.66 |
-1.73% |
-2.04% |
| Biotech |
$BTK |
5,162.05 |
+53.03 |
+1.04% |
-4.74% |
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Pulled Back From All Time High With Gap Down on Prior Session
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Arista Networks Inc (ANET +$4.30 or +1.66% to $262.98) encountered distributional pressure this week while at its all-time high, extended from any sound base. Its 50-day moving average (DMA) line ($238) defines near-term support to watch. Fundamentals remain strong.
ANET finished strong after it was highlighted in yellow and new pivot point cited is based on its prior high plus 10 cents in the 10/31/23 mid-day report (read here). It was last covered in detail in this FSU section on 12/26/23 with an annotated graph under the headline, "Extended From Base and Hovering at All-Time High".
ANET currently has a 98 Earnings Per Share Rating. It has shown 8 consecutive quarterly comparisons with strong and steady above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) had a downturn in FY '20 like many companies during the pandemic.
The number of top-rated funds owning its shares rose from 1,758 in Dec '21 to 2,456 in Dec '23, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.9 is an unbiased indication its shares have been under accumulation over the past 50 days. The high-ranked Computer - Networking firm has a Timeliness Rating of A and a Sponsorship Rating of C. Its small supply of 252 million shares (S criteria) in the public float may contribute to greater 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
|
$262.98
|
+4.30
1.66% |
$263.73
|
2,214,093
136.59% of 50 DAV
50 DAV is 1,621,000
|
$272.90
-3.64%
|
10/31/2023
|
$188.84
|
PP = $198.80
|
|
MB = $208.74
|
Most Recent Note - 2/1/2024 5:47:40 PM
G - Gapped down on the prior session retreating from its all-time high. Extended from any sound base, its 50 DMA line ($238) defines near-term support above the prior low ($226.60 on 1/04/24) area. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Pulled Back From All Time High With Gap Down on Prior Session - 2/1/2024 |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
|
$115.79
|
+1.05
0.92% |
$115.86
|
6,826,112
166.69% of 50 DAV
50 DAV is 4,095,000
|
$116.12
-0.28%
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11/2/2023
|
$100.97
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PP = $104.10
|
|
MB = $109.31
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Most Recent Note - 1/31/2024 12:27:20 PM
G - Gapped up today rallying to a new all-time high above its "max buy" level, and its color code is changed to green. The recent low ($103.38 on 1/23/24) defines important near-term support nearly coinciding with its 50 DMA line ($103.39).
>>> 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
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$190.39
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+1.22
0.64% |
$190.61
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294,913
81.02% of 50 DAV
50 DAV is 364,000
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$206.35
-7.73%
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1/24/2024
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$196.27
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PP = $206.45
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MB = $216.77
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Most Recent Note - 1/31/2024 5:52:39 PM
G - Sputtering below its 50 DMA line ($191) with today's loss backed by average volume. 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
|
$252.70
|
+3.64
1.46% |
$254.14
|
466,093
124.29% of 50 DAV
50 DAV is 375,000
|
$262.95
-3.90%
|
11/8/2023
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$127.84
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PP = $223.30
|
|
MB = $234.47
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Most Recent Note - 1/29/2024 6:32:39 PM
G - Posted a gain with below-average volume, hovering near its all-time high. Its 50-day moving average (DMA) line ($244) 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
|
$1,113.68
|
+21.00
1.92% |
$1,116.93
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228,125
118.20% of 50 DAV
50 DAV is 193,000
|
$1,100.00
1.24%
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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 - 1/31/2024 5:49:30 PM
G - Posted a gain today for a new all-time high with above average volume. 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
|
$339.97
|
+1.46
0.43% |
$340.45
|
2,169,300
56.54% of 50 DAV
50 DAV is 3,837,000
|
$350.60
-3.03%
|
1/10/2024
|
$313.65
|
PP = $318.00
|
|
MB = $333.90
|
Most Recent Note - 1/31/2024 12:47:32 PM
G - Gapped down today yet still perched near its all-time high. Color code is changed to green after recently getting extended beyond the "max buy" level.
>>> 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
|
$645.37
|
+19.97
3.19% |
$646.76
|
642,127
90.19% of 50 DAV
50 DAV is 712,000
|
$658.51
-2.00%
|
1/24/2024
|
$576.90
|
PP = $585.60
|
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MB = $614.88
|
Most Recent Note - 2/1/2024 5:55:07 PM
C - Posted a solid gain today with below-average volume. Prior high ($585.50) defines initial support to watch. 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.
>>> 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
|
$53.48
|
+0.12
0.22% |
$53.68
|
392,095
82.37% of 50 DAV
50 DAV is 476,000
|
$67.66
-20.96%
|
12/4/2023
|
$60.84
|
PP = $58.35
|
|
MB = $61.27
|
Most Recent Note - 1/31/2024 5:48:16 PM
G - Quietly slumped further below its 50 DMA line toward its 200 DMA line. A rebound above the 50 DMA line ($57.64) is needed for its outlook to improve. Fundamentals remain strong.
>>> 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
|
$42.36
|
-1.28
-2.93% |
$44.86
|
614,499
139.03% of 50 DAV
50 DAV is 442,000
|
$47.11
-10.08%
|
1/22/2024
|
$40.87
|
PP = $42.56
|
|
MB = $44.69
|
Most Recent Note - 2/1/2024 5:49:03 PM
G - Pulled back today for a 2nd volume-driven loss. Prior highs in the $42 area define near-term support to watch. Reported Dec '23 quarterly earnings +34% on +16% sales revenues versus the year-ago period. Volume and volatility often increase near earnings news.
>>> 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
|
$461.94
|
+8.12
1.79% |
$463.03
|
1,524,074
99.55% of 50 DAV
50 DAV is 1,531,000
|
$516.39
-10.54%
|
12/8/2023
|
$490.61
|
PP = $485.93
|
|
MB = $510.23
|
Most Recent Note - 1/31/2024 12:45:22 PM
G - Color code is changed to green after gapping down today and violating its 50 DMA line ($477) triggering a technical sell signal. Only a prompt rebound above the 50 DMA line would help its outlook improve.
>>> 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
|
$299.37
|
+6.87
2.35% |
$299.90
|
1,842,274
54.59% of 50 DAV
50 DAV is 3,375,000
|
$307.55
-2.66%
|
1/2/2024
|
$246.42
|
PP = $261.91
|
|
MB = $275.01
|
Most Recent Note - 1/31/2024 12:50:16 PM
G - Hovering near its all-time high. Prior high in the $261 area defines initial support to watch above its 50 DMA line ($256). 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
|
$162.50
|
+2.97
1.86% |
$162.79
|
800,842
58.07% of 50 DAV
50 DAV is 1,379,000
|
$164.71
-1.34%
|
1/2/2024
|
$138.23
|
PP = $153.63
|
|
MB = $161.31
|
Most Recent Note - 1/29/2024 6:34:13 PM
Y - Holding its ground in a tight range above the pivot point and below its "max buy" level. 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 ADR
Beverages-Non-Alcoholic
|
$97.88
|
+2.94
3.10% |
$98.29
|
139,507
98.24% of 50 DAV
50 DAV is 142,000
|
$99.34
-1.47%
|
1/12/2024
|
$93.38
|
PP = $99.34
|
|
MB = $104.31
|
Most Recent Note - 2/1/2024 5:52:21 PM
Y - Posted a 6th consecutive gain with near average volume challenging its 52-week high. Found support above its 50 DMA line ($91). 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 86, well above 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
|
$102.02
|
+1.63
1.62% |
$102.23
|
1,712,567
74.75% of 50 DAV
50 DAV is 2,291,000
|
$103.40
-1.33%
|
1/23/2024
|
$100.35
|
PP = $98.57
|
|
MB = $103.50
|
Most Recent Note - 1/31/2024 12:49:01 PM
Y - Volume totals have been cooling while consolidating near its all-time high after volume-driven gains. 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 |
HUBB
-
NYSE
Hubbell
Electrical-Power/Equipmt
|
$343.71
|
+8.14
2.43% |
$344.40
|
519,889
135.39% of 50 DAV
50 DAV is 384,000
|
$347.28
-1.03%
|
1/30/2024
|
$343.26
|
PP = $336.83
|
|
MB = $353.67
|
Most Recent Note - 2/1/2024 5:50:45 PM
Y - Posted a volume-driven gain today. Finished strong after highlighted in yellow in the 1/30/24 mid-day report with pivot point cited based on its 1/22/24 high after a cup-with-handle base.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind Breakout Gain for Hubbell - 1/30/2024 |
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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 |
MANH
-
NASDAQ
Manhattan Associates
Computer Sftwr-Enterprse
|
$249.07
|
+6.51
2.68% |
$249.26
|
525,717
121.69% of 50 DAV
50 DAV is 432,000
|
$258.91
-3.80%
|
1/31/2024
|
$240.57
|
PP = $230.71
|
|
MB = $242.25
|
Most Recent Note - 2/1/2024 5:54:02 PM
Y - Posted another solid gain today, Highlighted in yellow in the 1/31/24 mid-day report with pivot point cited based on its 11/29/23 high plus 10 cents.
>>> FEATURED STOCK ARTICLE : Big Volume Behind Breakout Gain - 1/31/2024 |
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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.
This report is a service available
only to active Paid Premium Members.
You may opt-out of receiving report notifications
at any time. Questions or comments may be submitted
by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307
or 954-785-1121.
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