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AFTER MARKET UPDATE - FRIDAY, FEBRUARY 26TH, 2016
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DOW |
-57.32 |
16,639.97 |
-0.34% |
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Volume |
1,003,905,260 |
+9% |
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Volume |
1,667,726,210 |
+10% |
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NASDAQ |
+8.27 |
4,590.47 |
+0.18% |
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Advancers |
1,904 |
62% |
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Advancers |
1,854 |
65% |
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S&P 500 |
-3.65 |
1,948.05 |
-0.19% |
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Decliners |
1,170 |
38% |
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Decliners |
995 |
35% |
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Russell 2000 |
+5.61 |
1,037.18 |
+0.54% |
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52 Wk Highs |
50 |
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52 Wk Highs |
40 |
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S&P 600 |
+1.91 |
637.42 |
+0.30% |
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52 Wk Lows |
27 |
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52 Wk Lows |
45 |
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Leadership Improved as Indices Tallied Second Week of Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
For the week, the Dow added 1.56%, the S&P 500 advanced 1.6% and the Nasdaq 100 gained 1.9%. Stocks were mixed on Friday. The Dow lost 57 points to 16639. The S&P 500 ebbed 3 points to 1948. The Nasdaq Composite climbed 8 points to 4590. Volume was reported higher on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by 3-2 on the NYSE and nearly 2-1 on the Nasdaq exchange. Leadership improved as 33 high-ranked companies from the Leaders List made new 52-week highs and were listed on the BreakOuts Page, versus the total of 31 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows still led new highs on the Nasdaq exchange. The DOW and S&P 500 Index both rebounded above their respective 50-day moving average lines on Thursday. The improved technical stance of those major averages (M criteria) coupled with better leadership provided encouraging signs as the confirmed rally continues.
PICTURED: The S&P 500 Index rebounded above its 50-day moving average (DMA) line on the prior session, helping its technical stance improve. The major averages fluctuated while Treasuries sold off after an update on U.S. economic growth. Before the open, fourth-quarter GDP was unexpectedly revised up to a 1% annualized rate from the initial 0.7% reading. Analysts were expecting the growth to tick down to 0.4%. Additional releases revealed personal income and spending both rose 0.5% in January. On the earnings front, Kraft Heinz (KHC +3.84%) rose after beating Wall Street expectations on the top and bottom line. In the retail space, shares of Gap (GPS -1.34%) fell as the company released disappointing forward guidance. J.C. Penney (JCP +14.71%) rose after profits and sales beat analyst projections. Six out of ten sectors in the S&P 500 finished lower on the session. Financials and Materials outperformed while the Utilities sector lagged. Treasuries pushed lower after the GDP release with the benchmark 10-year note losing 12/32 to yield 1.76%. In commodities, NYMEX WTI crude ran out of steam late in the session, falling 0.2% to $33.01/barrel. COMEX gold retreated 1.2% to $1224.50/ounce. In FOREX, the Dollar Index jumped 0.8% with strength against the yen and euro. The Featured Stocks Page includes most current notes with headline links for access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Oil Services, Financial, and Biotech Indexes Led Group Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Friday the Bank Index ($BKX +1.66%) and Broker/Dealer Index ($XBD +2.37%) both had a positive influence on the major averages again, meanwhile the Retail Index ($RLX-0.12%) ended slightly lower. The tech sector was led by the Biotechnology Index ($BTK +1.81%) while the Semiconductor Index ($SOX +0.58%) edged higher but the Networking Index ($NWX -0.17%) suffered a small loss. The Oil Services Index ($OSX +3.53%) was a standout gainer and the Integrated Oil Index ($XOI +0.28%) edged higher, but the Gold & Silver Index ($XAU -2.56%) was a clear laggard as it gave back some of its recent gains.Charts courtesy www.stockcharts.com
PICTURED: The Broker/Dealer Index ($XBD +2.37%) remains below its 50-day moving average (DMA) line and below prior lows.
| Oil Services |
$OSX |
143.63 |
+4.89 |
+3.52% |
-8.94% |
| Integrated Oil |
$XOI |
987.37 |
+2.78 |
+0.28% |
-7.96% |
| Semiconductor |
$SOX |
624.65 |
+3.58 |
+0.58% |
-5.85% |
| Networking |
$NWX |
352.28 |
-0.59 |
-0.17% |
-6.29% |
| Broker/Dealer |
$XBD |
150.19 |
+3.48 |
+2.37% |
-15.67% |
| Retail |
$RLX |
1,199.82 |
-1.48 |
-0.12% |
-6.52% |
| Gold & Silver |
$XAU |
61.90 |
-1.63 |
-2.57% |
+36.64% |
| Bank |
$BKX |
61.67 |
+1.01 |
+1.67% |
-15.61% |
| Biotech |
$BTK |
2,870.85 |
+51.05 |
+1.81% |
-24.73% |
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Formed Double Bottom Base and Found Support
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Maxlinear Inc (MXL +$0.05 or +0.32% to $15.81) had a weak finish after highlighted in yellow with pivot point cited based on its 1/13/16 high in the earlier mid-day report (read here). Instead of breaking out convincingly, it encountered distributional pressure and finished near the session low with a very small gain on above average volume. It found support at its 200-day moving average (DMA) line while forming a "double bottom" base. Subsequent volume-driven gains above the pivot point may trigger a technical buy signal. However, it also faces additional near-term resistance up through the $17.75 level. Convincing gains into new high territory would be a very reassuring sign that could signal the beginning of a significant advance. The high-ranked Semiconductor firm saw sales revenues increases of +99%, +193%, and +205% for the Jun, Sep, and Dec '15 quarters, respectively, versus the year ago periods as earnings rose +62%, +900%, and +820%. The 3 strong quarterly comparisons above the +25% minimum guideline (C criteria) were noted in the 2/09/16 mid-day report - "Helping it better match the fact-based investment system's guidelines." The number of top-rated funds owning its shares rose from 175 in Mar '15 to 271 in Dec '15, a very reassuring sign (I criteria). It currently has a Timeliness rating of B, but a Sponsorship Rating of D. Its Up/Down Volume Ratio of 1.0 indicates no clear sign of accumulation or distribution over the past 50 days. Disciplined investors may have it on their watchlist until fresh signs of serious institutional buying demand might confirm that action is justified. |
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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 |
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Max Buy |
JBSS
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NASDAQ
Sanfilippo John B & Son
FOOD and BEVERAGE - Processed and Packaged Goods
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$66.92
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-1.34
-1.96% |
$69.08
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141,525
155.52% of 50 DAV
50 DAV is 91,000
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$68.46
-2.25%
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1/29/2016
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$62.25
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PP = $66.39
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MB = $69.71
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Most Recent Note - 2/26/2016 5:32:01 PM
Y - Touched a new high but reversed into the red for a loss on higher volume and ended near the session low, a sign of distributional pressure. Volume-driven gains this week triggered a technical buy signal. Prior highs define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain For New High Close - 2/22/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
MXL
-
NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure
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$15.81
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+0.05
0.32% |
$16.50
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1,145,987
140.27% of 50 DAV
50 DAV is 817,000
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$17.75
-10.93%
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2/26/2016
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$16.10
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PP = $16.19
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MB = $17.00
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Most Recent Note - 2/26/2016 5:27:36 PM
Y - Finished the session weak after highlighted in yellow with pivot point cited based on its 1/13/16 high. Found support at its 200 DMA line while forming a "double bottom" base. Subsequent volume-driven gains above the pivot point may trigger a technical buy signal. Faces additional near-term resistance up through $17.75. Showed great sales revenues and earnings increases for the Jun, Sep, and Dec '15 quarters, helping it better match the fact-based investment system's guidelines. Increasing ownership by top-rated funds (I criteria) is a reassuring sign. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Formed Double Bottom Base and Found Support - 2/26/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
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,
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