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AFTER MARKET UPDATE - MONDAY, FEBRUARY 12TH, 2024
Previous After Market Report Next After Market Report >>>
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DOW |
+125.69 |
38,797.38 |
+0.33% |
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Volume |
897,206,864 |
-0% |
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Volume |
5,539,028,200 |
-5% |
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NASDAQ |
-48.12 |
15,942.55 |
-0.30% |
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Advancers |
2,112 |
77% |
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Advancers |
2,800 |
65% |
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S&P 500 |
-4.77 |
5,021.84 |
-0.09% |
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Decliners |
620 |
23% |
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Decliners |
1,504 |
35% |
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Russell 2000 |
+35.27 |
2,045.26 |
+1.75% |
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52 Wk Highs |
254 |
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52 Wk Highs |
348 |
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S&P 600 |
+22.66 |
1,311.00 |
+1.76% |
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52 Wk Lows |
9 |
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52 Wk Lows |
56 |
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Breadth Positive but Major Indices Ended Mixed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow Jones Industrial Average rose +0.3%, marking another record closing high. The Russell 2000 jumped +1.8%, continuing its recent outperformance and helping it to positive territory (+0.9%) for 2024. Volume was reported near the prior session total on the NYSE and lighter on the Nasdaq exchange. Advancers led decliners by more than a 3-1 margin on the NYSE and by almost a 2-1 margin on the Nasdaq exchange. There were 128 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, matching the total of 128 on the prior session. New 52-week highs totals expanded and outnumbered shrinking new 52-week lows totals 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 3-year graph of the S&P 600 Small Cap Index shows it -11.2% off its November 2021 all-time high and even down from its Dec '23 high.
The S&P 500 (-0.1%) and Nasdaq Composite (-0.3%) lost ground after early gains +0.4% and +0.6%, respectively. Amazon.com (AMZN -1.21%) and Microsoft (MSFT -1.26%) were among the influential losers from the mega cap space which created a drag. Semiconductor stocks suffered after losing early strength and the PHLX Semiconductor Index (SOX) erased a +1.7% gain at its high to close -0.2% lower.
The heavily-weighted information technology sector saw the largest decline. The rate-sensitive S&P 500 utilities sector saw the largest gain among the 11 sectors. The energy sector was another top performer, gaining +1.1%, due to a huge gain in Diamondback Energy (FANG +9.38%) following news that it plans to merge with Endeavor Energy Resources in a $26 billion cash-and-stock deal that is inclusive of Endeavor's debt.
The 2-yr note yield declined three basis points to 4.47% and the 10-yr note yield fell two basis points to 4.17%.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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3-Year Look at RLX as Networking, Financials, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.01%) and the Bank Index ($BKX +1.56%) both posted solid gains that had a positive influence on the major averages. Commodity-linked groups also had a positive bias as the Gold & Silver Index ($XAU +1.12%), Oil Services Index ($OSX +1.04%), and the Integrated Oil Index ($XOI +1.27%) posted unanimous gains. The tech sector was led by Networking Index ($NWX +2.45%) while the Biotech Index ($BTK +0.57%) also edged higher, but the Semiconductor Index ($SOX -0.16%) finished slightly in the red.
![]() PICTURED: The Retail Index ($RLX -0.43%) paused at its 52-week high.
![]() PICTURED: The 3-year graph of the Retail Index ($RLX) reminds investors that it remains -4.4% below its November 2021 high after a long and choppy consolidation.
| Oil Services |
$OSX |
79.66 |
+0.82 |
+1.04% |
-5.03% |
| Integrated Oil |
$XOI |
1,899.09 |
+23.84 |
+1.27% |
+1.97% |
| Semiconductor |
$SOX |
4,560.04 |
-7.26 |
-0.16% |
+9.21% |
| Networking |
$NWX |
853.11 |
+20.40 |
+2.45% |
+2.44% |
| Broker/Dealer |
$XBD |
557.09 |
+5.59 |
+1.01% |
-0.04% |
| Retail |
$RLX |
4,276.75 |
-18.49 |
-0.43% |
+9.98% |
| Gold & Silver |
$XAU |
110.55 |
+1.23 |
+1.12% |
-12.05% |
| Bank |
$BKX |
95.09 |
+1.46 |
+1.56% |
-0.97% |
| Biotech |
$BTK |
5,113.06 |
+28.95 |
+0.57% |
-5.64% |
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Reversal at All-Time High After 7 Consecutive Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Axon Enterprise Inc (AXON -$4.27 or -1.58% to $266.71) had a "negative reversal" after reaching a new all-time high today following 7 consecutive gains. Prior highs in the $260-262 area define initial suport above its 50-day moving average (DMA) line ($251.23).
AXON was highlighted in yellow in the 11/08/23 mid-day report (read here) with new pivot point cited based on its 10/17/23 high after a cup-with-handle base. It hit a new all-time high and finished near the session high triggering a technical buy signal. It was shown in detail in this FSU section on 1/09/24 with an annotated graph under the headline, "Consolidating Well Above Near-Term Support".
AXON reported Sep '23 quarterly earnings +70% on +33% sales revenues versus the year-ago period, its 4th strong quarter well above the +25% minimum earnings guideline (C criteria). Annual earnings had a slight downturn in FY '22 after years of strong growth.
The company has a small supply of only 74.9 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 978 in Mar '23 to 1,419 in Dec '23, a reassuring sign concerning the I criteria. AXON has a Timeliness Rating of A and an Accumulation/Distribution Rating of B. Charts courtesy www.stockcharts.com 
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 | $280.88 | -1.57
-0.56% | $292.66 | 9,167,749
510.17% of 50 DAV
50 DAV is 1,797,000 | $284.82
-1.38%
| 10/31/2023 | $188.84 | PP = $198.80 | | MB = $208.74 |  Most Recent Note - 2/12/2024 12:25:02 PM
G - Posting a 4th consecutive volume-driven gain today hitting yet another new all-time high, getting very extended from any sound base. Its 50 DMA line ($246) defines important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Pulled Back From All Time High With Gap Down on Prior Session - 2/1/2024 | 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 | $120.53 | -0.67
-0.55% | $120.85 | 4,256,829
97.61% of 50 DAV
50 DAV is 4,361,000 | $121.65
-0.92%
| 11/2/2023 | $100.97 | PP = $104.10 | | MB = $109.31 | Most Recent Note - 2/9/2024 6:09:56 PM
G - Gapped up and posted a gain with +21% above average volume for yet another new all-time high. Its 50 DMA line ($105.43) and recent low ($103.38 on 1/23/24) define important near-term support to watch on pullbacks. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After Volume-Driven Gains - 2/8/2024 | 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 | $266.71 | -4.27
-1.58% | $273.54 | 478,799
122.77% of 50 DAV
50 DAV is 390,000 | $271.39
-1.72%
| 11/8/2023 | $127.84 | PP = $223.30 | | MB = $234.47 | Most Recent Note - 2/12/2024 6:55:57 PM
G - After hitting a new all-time high today there was a "negative reversal" following 7 consecutive gains. Prior highs in the $260-262 area define initial support to watch above its 50-day moving average (DMA) line ($248.72). See the latest FSU analysis for more details and new annotated graph.
>>> FEATURED STOCK ARTICLE : Reversal at All-Time High After 7 Consecutive Gains - 2/12/2024 | 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 | $1,109.17 | -10.72
-0.96% | $1,119.09 | 219,907
106.75% of 50 DAV
50 DAV is 206,000 | $1,155.24
-3.99%
| 12/12/2023 | $1,000.39 | PP = $1,013.18 | | MB = $1,063.84 | Most Recent Note - 2/8/2024 1:00:40 PM
G - Extended from any sound base today's 8th consecutive gain with above-average volume has it hitting yet another new all-time high. Its 50 DMA line ($1,025) defines near-term support to watch above prior highs in the $1,013-1,015 area.
>>> 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 | PANW - NASDAQ
Palo Alto Networks
Computer Sftwr-Security | $371.96 | -4.94
-1.31% | $376.30 | 2,864,175
78.38% of 50 DAV
50 DAV is 3,654,000 | $380.84
-2.33%
| 1/10/2024 | $313.65 | PP = $318.00 | | MB = $333.90 | Most Recent Note - 2/9/2024 6:02:34 PM
G - Volume was near average behind today''s 3rd consecutive gain for a new all-time high, getting very extended from any sound base. Prior high ($318) and its 50 DMA line ($316.46) define important support to watch on pullbacks.
>>> 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 | 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 | URI - NYSE
United Rentals
Comml Svcs-Leasing | $663.53 | +13.18
2.03% | $673.68 | 515,287
72.68% of 50 DAV
50 DAV is 709,000 | $658.86
0.71%
| 1/24/2024 | $576.90 | PP = $585.60 | | MB = $614.88 | Most Recent Note - 2/12/2024 6:53:45 PM
G - Volume was below-average behind today''s gain for yet another new all-time high. 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 | 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 | $44.40 | +0.51
1.16% | $45.46 | 501,997
102.66% of 50 DAV
50 DAV is 489,000 | $47.11
-5.75%
| 1/22/2024 | $40.87 | PP = $42.56 | | MB = $44.69 | Most Recent Note - 2/9/2024 6:06:20 PM
Y - Posted a big gain with average volume and closed near the session high. Found support when testing prior highs in the $42 area and its color code was changed to yellow while trading below its "max buy". Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume-Driven Breakout Triggered Buy Signal After Earnings Report - 1/26/2024 | 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 | $466.08 | -4.16
-0.88% | $478.00 | 1,170,718
73.91% of 50 DAV
50 DAV is 1,584,000 | $516.39
-9.74%
| 12/8/2023 | $490.61 | PP = $485.93 | | MB = $510.23 | Most Recent Note - 2/8/2024 6:31:48 PM
G - Posted a solid gain today with average volume, rebounding toward its 50 DMA line ($481) which may act as resistance. A rebound above the 50 DMA line is needed to help its outlook improve.
>>> FEATURED STOCK ARTICLE : Violation of 50-Day Moving Average Hurt Outlook - 2/2/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | CRWD - NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security | $321.29 | -8.05
-2.44% | $330.67 | 3,405,909
102.25% of 50 DAV
50 DAV is 3,331,000 | $336.99
-4.66%
| 1/2/2024 | $246.42 | PP = $261.91 | | MB = $275.01 | Most Recent Note - 2/12/2024 7:00:04 PM
G - Very extended from any sound base, it pulled back from its all-time high with average volume behind today''s loss after 3 consecutive gains. Its 50 DMA line ($272) defines near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooking While Stubbornly Perched at All-Time High - 2/6/2024 | 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 | $171.91 | -2.61
-1.50% | $179.58 | 1,392,378
94.14% of 50 DAV
50 DAV is 1,479,000 | $175.74
-2.18%
| 1/2/2024 | $138.23 | PP = $153.63 | | MB = $161.31 | Most Recent Note - 2/8/2024 6:30:19 PM
G - Perched near its all-time high today after another big volume-driven gain. Reported Dec '23 quarterly earnings +54% on +85% sales revenues versus the year-ago period, continuing its strong earnings track record. Volume and volatility often increase near earnings news. Its 50 DMA line ($147) defines important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Peched at All-Time High With Earnings News Due - 2/5/2024 | 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 | KOF - NYSE
Coca-Cola Femsa ADR
Beverages-Non-Alcoholic | $97.78 | +0.17
0.17% | $98.42 | 89,564
57.78% of 50 DAV
50 DAV is 155,000 | $102.94
-5.01%
| 1/12/2024 | $93.38 | PP = $99.34 | | MB = $104.31 | Most Recent Note - 2/8/2024 6:40:59 PM
Y - Holding its ground with volume totals cooling after abruptly reversing from its high this week and undercutting its prior high raising concerns. Its 50 DMA line ($92.34) recently acted as support. A valid secondary buy point was noted up to +5% above the 12/19/23 high since finding support at its 10 WMA line after an earlier breakout. Its Relative Strength Rating is currently 82, above 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 | PCAR - NASDAQ
Paccar
Trucks and Parts-Hvy Duty | $106.02 | +0.01
0.01% | $106.41 | 1,378,149
59.25% of 50 DAV
50 DAV is 2,326,000 | $106.23
-0.20%
| 1/23/2024 | $100.35 | PP = $98.57 | | MB = $103.50 | Most Recent Note - 2/12/2024 7:06:27 PM
G - Hit a new all-time high with today''s 8th consecutive gain, getting extended from any sound base. 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 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | HUBB - NYSE
Hubbell
Electrical-Power/Equipmt | $359.82 | -3.19
-0.88% | $364.76 | 295,342
75.54% of 50 DAV
50 DAV is 391,000 | $363.36
-0.97%
| 1/30/2024 | $343.26 | PP = $336.83 | | MB = $353.67 | Most Recent Note - 2/8/2024 6:38:20 PM
G - Hit yet another new all-time high with today''s gain backed by below-average volume, wedging above its "max buy" level, and its color code is changed to green. Prior high ($340) defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind Breakout Gain for Hubbell - 1/30/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | MANH - NASDAQ
Manhattan Associates
Computer Sftwr-Enterprse | $245.86 | -4.64
-1.85% | $251.00 | 315,461
72.85% of 50 DAV
50 DAV is 433,000 | $258.91
-5.04%
| 1/31/2024 | $240.57 | PP = $230.71 | | MB = $242.25 | Most Recent Note - 2/12/2024 7:05:13 PM
G - Pulled back from its all-time high with light volume behind today''s loss. Prior highs in the $230 area define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Big Volume Behind Breakout Gain - 1/31/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | TENB - NASDAQ
Tenable Holdings
Computer Sftwr-Security | $50.69 | -1.20
-2.31% | $52.50 | 1,403,610
139.11% of 50 DAV
50 DAV is 1,009,000 | $53.50
-5.25%
| 2/7/2024 | $49.50 | PP = $49.87 | | MB = $52.36 | Most Recent Note - 2/9/2024 6:12:18 PM
Y - Posted a 4th consecutive volume-driven gain today for a new high close approaching its "max buy" level. Bullish action this week came after it reported earnings for the Dec '23 quarter +108% on +16% sales revenues versus the year-ago period. Prior highs in the $49 area define initial support to watch on pullbacks. Prior quarterly and annual earnings history is a good match with the fact-based investment system's fundamental guidelines.
>>> FEATURED STOCK ARTICLE : Gap Up Gain Followed Latest Earnings Report - 2/7/2024 | 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 | USLM - NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag | $262.30 | +2.31
0.89% | $266.88 | 36,477
202.65% of 50 DAV
50 DAV is 18,000 | $264.99
-1.02%
| 2/9/2024 | $254.68 | PP = $265.09 | | MB = $278.34 | Most Recent Note - 2/12/2024 12:54:30 PM
Y - Hitting a new all-time high with today's 4th consecutive gain backed by ever-increasing volume. Finished strong and managed a best-ever close after highlighted in yellow in the 2/09/24 mid-day report with pivot point cited based on its 1/24/24 high plus 10 cents. Subsequent gains and a close above the pivot point backed by at least +40% above average volume may trigger a conviciing new technical buy signal. Through Dec '23 its quarterly and annual earnings (C and A criteria) history has been strong, a good match with the fact-based investment system's guidelines. Thinly traded firm has only 5.7 million shares outstanding (S criteria), which can contribute to greater price volatility in the event of institutional buying or selling.
>>> FEATURED STOCK ARTICLE : Strong Finish for Thinly Traded U.S Lime & Minerals - 2/9/2024 | 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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