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AFTER MARKET UPDATE - TUESDAY, MARCH 5TH, 2024
Previous After Market Report Next After Market Report >>>
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DOW |
-404.64 |
38,585.19 |
-1.04% |
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Volume |
1,013,772,724 |
-4% |
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Volume |
6,544,629,800 |
+12% |
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NASDAQ |
-267.92 |
15,939.59 |
-1.65% |
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Advancers |
1,179 |
43% |
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Advancers |
1,606 |
37% |
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S&P 500 |
-52.30 |
5,078.65 |
-1.02% |
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Decliners |
1,577 |
57% |
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Decliners |
2,703 |
63% |
|
Russell 2000 |
-20.60 |
2,053.71 |
-0.99% |
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52 Wk Highs |
154 |
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52 Wk Highs |
133 |
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S&P 600 |
-5.78 |
1,297.90 |
-0.44% |
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52 Wk Lows |
36 |
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52 Wk Lows |
115 |
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Major Indices Fell and Leadership Contracted
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices each clearly ended lower on Tuesday. Volume reported was mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Decliners led advancers by a 5-4 margin on the NYSE and by a 3-2 margin on the Nasdaq exchange. There were 66 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, down versus the total of 146 on the prior session. New 52-week highs totals outnumbered 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 Nasdaq Composite Index pulled back with higher volume.
The S&P 500 information technology sector declined -2.2% on Tuesday, leaving it up +10.1% in 2024. Microsoft (MSFT -2.96%), Meta Platforms (META -1.60%), and Amazon.com (AMZN -1.95%) all lost ground.Meanwhile, NVIDIA (NVDA +0.85%) edged higher, bringing its yearly gain to a whopping +73.6%. Aside from the information technology sector, the consumer discretionary (-1.3%) and real estate (-1.2%) sectors saw the largest declines.
The consumer staples sector outperformed thanks in part to a big earnings-related gain in Target (TGT +12.02%). The energy (+0.7%) and financials (+0.1%) sectors were also able to close with gains.
Treasuries settled with gains. The 2-yr note yield fell six basis points to 4.55% and the 10-yr note yield declined eight basis points to 4.14%.
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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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Financial and Energy-Linked Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.23%) and the Bank Index ($BKX +1.82%) both posted solid gains while the Retail Index ($RLX -0.44%) lost ground on Monday. The tech sector had a negative bias as the Semiconductor Index ($SOX -2.1%) fell, but it is still up 16.9% for the year. The Networking Index ($NWX -0.74%) and the Biotech Index ($BTK -0.94%) both ended lower. The Gold & Silver Index ($XAU +0.02%) held its ground while the Oil Services Index ($OSX +0.15%) and the Integrated Oil Index ($XOI +0.45%) both posted small gains.
![]() PICTURED: The Semiconductor Index ($SOX -2.1%) pulled back from another new all-time high.
| Oil Services |
$OSX |
81.39 |
+0.12 |
+0.15% |
-2.96% |
| Integrated Oil |
$XOI |
1,955.47 |
+8.82 |
+0.45% |
+4.99% |
| Semiconductor |
$SOX |
4,879.83 |
-102.13 |
-2.05% |
+16.87% |
| Networking |
$NWX |
808.43 |
-5.99 |
-0.74% |
-2.93% |
| Broker/Dealer |
$XBD |
583.38 |
-0.90 |
-0.15% |
+4.68% |
| Retail |
$RLX |
4,368.00 |
-58.74 |
-1.33% |
+12.32% |
| Gold & Silver |
$XAU |
113.01 |
+0.02 |
+0.02% |
-10.09% |
| Bank |
$BKX |
99.48 |
+1.35 |
+1.38% |
+3.61% |
| Biotech |
$BTK |
5,244.77 |
-49.57 |
-0.94% |
-3.21% |
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Big Gap Up Gain Triggered Technical Buy Signal
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Paymentus Holdings (PAY +$3.30 or +20.18% to $19.65) was highlighted in yellow with pivot point cited based on its 12/26/23 high plus 10 cents in the earlier mid-day report. It gapped up hitting a new 52-week high with today's considerable volume-driven gain triggering a technical buy signal. It rebounded near its 50-day moving average (DMA) line on the prior session.
PAY has a 96 Earnings Per Share Rating. It reported Dec '23 quarterly earnings +175% on +25% sales revenues versus the year-ago period, its 3rd strong quarterly comparison well above the +25% minimum earnings guideline (C criteria). Its annual earnings history (A criteria) has been strong since its $21 IPO in May '21.
The number of top-rated funds owning its shares rose from 79 in Mar '23 to 107 in Dec '24, a reassuring sign concerning the I criteria. Its small supply of only 16.7 million shares in the public float (S criteria) 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
|
$280.47
|
-7.47
-2.59% |
$284.08
|
2,377,477
109.36% of 50 DAV
50 DAV is 2,174,000
|
$292.66
-4.17%
|
10/31/2023
|
$188.84
|
PP = $198.80
|
|
MB = $208.74
|
Most Recent Note - 3/1/2024 4:51:52 PM
G - Posted a gain with +23% above average volume for a best-ever close, very extended from any sound base. Its 50 DMA line ($257.51) defines important near-term support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Best Ever Close for Arista Networks - 3/1/2024 |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
|
$124.65
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-3.30
-2.58% |
$126.83
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4,807,804
102.71% of 50 DAV
50 DAV is 4,681,000
|
$128.77
-3.20%
|
3/1/2024
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$124.23
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PP = $124.97
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MB = $131.22
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Most Recent Note - 3/4/2024 12:32:14 PM
Y - Gapped up today hitting a new all-time high. Color code was recently changed to yellow after forming an advanced "3-weeks tight" base. Its 50 DMA line ($112.59) defines important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After Volume-Driven Gains - 2/8/2024 |
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C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
|
$314.96
|
-4.92
-1.54% |
$319.81
|
620,357
137.55% of 50 DAV
50 DAV is 451,000
|
$325.63
-3.28%
|
11/8/2023
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$127.84
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PP = $223.30
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MB = $234.47
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Most Recent Note - 3/4/2024 12:04:00 PM
G - Very extended from any sound base and hitting another new all-time high today. Bullish action came after it reported Dec '23 quarterly earnings +60% on +29% sales revenues versus the year-ago period. Volume and volatility often increase near earnings news. Prior highs in the $260-262 area define initial support to watch along with its 50-day moving average (DMA) line ($262.58).
>>> FEATURED STOCK ARTICLE : Reversal at All-Time High After 7 Consecutive Gains - 2/12/2024 |
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C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
|
$1,160.00
|
-13.41
-1.14% |
$1,178.97
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229,864
107.41% of 50 DAV
50 DAV is 214,000
|
$1,207.58
-3.94%
|
12/12/2023
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$1,000.39
|
PP = $1,013.18
|
|
MB = $1,063.84
|
Most Recent Note - 3/5/2024 9:15:39 PM
G - Pulled back today with average volume for a 2nd consecutive loss. Its 50 DMA line ($1,087) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Transdigm Perched Near All-Time High - 2/14/2024 |
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C
A
S
I |
TBBK
-
NASDAQ
Bancorp Inc
Banks-Northeast
|
$40.43
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-1.66
-3.94% |
$42.88
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1,440,408
339.64% of 50 DAV
50 DAV is 424,100
|
$47.11
-14.18%
|
1/22/2024
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$40.87
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PP = $42.56
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MB = $44.69
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Most Recent Note - 3/5/2024 9:11:17 PM
Suffered a 5th consecutive loss today with higher volume while violating its 50 DMA line ($41.50) triggering a technical sell signal. It will be dropped from the Featured Stocks list tonight.
>>> FEATURED STOCK ARTICLE : Wedging Above "Max Buy" Level With Gains Lacking Great Volume - 2/27/2024 |
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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 |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
|
$297.77
|
-16.04
-5.11% |
$313.81
|
13,249,337
404.44% of 50 DAV
50 DAV is 3,276,000
|
$338.45
-12.02%
|
1/2/2024
|
$246.42
|
PP = $261.91
|
|
MB = $275.01
|
Most Recent Note - 3/5/2024 12:19:49 PM
G - Gapped down today undercutting its 50 DMA line ($293.67) with a 3rd consecutive volume-driven loss raising concerns. Its 50 DMA recently acted as support after hitting the prior low ($273 on 2/21/24). Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooking While Stubbornly Perched at All-Time High - 2/6/2024 |
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C
A
S
I |
ELF
-
NYSE
e.l.f. Beauty
Cosmetics/Personal Care
|
$201.62
|
-7.34
-3.51% |
$206.50
|
2,488,741
168.39% of 50 DAV
50 DAV is 1,478,000
|
$221.83
-9.11%
|
1/2/2024
|
$138.23
|
PP = $153.63
|
|
MB = $161.31
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Most Recent Note - 3/5/2024 12:23:18 PM
G - Pulling back today for a 2nd volume-driven loss after 8 consecutive gains for new all-time highs. Reported Dec '23 quarterly earnings +54% on +85% sales revenues versus the year-ago period, continuing its strong earnings track record. Its 50 DMA line ($165.63) defines important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Peched at All-Time High With Earnings News Due - 2/5/2024 |
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C
A
S
I |
KOF
-
NYSE
Coca Cola Femsa Sab Ads
Beverages-Non-Alcoholic
|
$97.33
|
+1.49
1.55% |
$98.00
|
167,819
102.58% of 50 DAV
50 DAV is 163,600
|
$104.38
-6.75%
|
1/12/2024
|
$93.38
|
PP = $99.34
|
|
MB = $104.31
|
Most Recent Note - 2/29/2024 12:49:31 PM
Y - Its 50 DMA line ($95.17) defines important near-term support to watch while still sputtering after a noted "negative reversal" on 2/20/24 at its all-time high. Reported Dec '23 quarterly earnings -13% on +24% sales revenues versus the year-ago period, raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Perched at High With Earnings News Due - 2/21/2024 |
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C
A
S
I |
PCAR
-
NASDAQ
Paccar
Trucks and Parts-Hvy Duty
|
$114.08
|
+1.79
1.59% |
$115.78
|
2,556,660
120.43% of 50 DAV
50 DAV is 2,123,000
|
$114.22
-0.12%
|
1/23/2024
|
$100.35
|
PP = $98.57
|
|
MB = $103.50
|
Most Recent Note - 3/1/2024 4:56:57 PM
G - Hit another new all-time high with today's gain backed by average volume, getting more extended from any sound base. Its 50 DMA line ($101.55) defines near-term support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After 7 Weekly Gains - 2/26/2024 |
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C
A
S
I |
HUBB
-
NYSE
Hubbell
Electrical-Power/Equipmt
|
$380.65
|
-7.09
-1.83% |
$385.37
|
450,351
114.89% of 50 DAV
50 DAV is 392,000
|
$392.98
-3.14%
|
1/30/2024
|
$343.26
|
PP = $336.83
|
|
MB = $353.67
|
Most Recent Note - 3/5/2024 9:18:55 PM
G - Pulled back from its all-time high with today's loss after 4 consecutive gains. Very extended from the previously noted base. Prior high ($340) and its 50 DMA line define important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Inched to New Highs With Average Volume - 2/28/2024 |
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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
|
$252.33
|
-3.06
-1.20% |
$257.50
|
357,246
102.95% of 50 DAV
50 DAV is 347,000
|
$258.91
-2.54%
|
1/31/2024
|
$240.57
|
PP = $230.71
|
|
MB = $242.25
|
Most Recent Note - 3/5/2024 9:14:22 PM
G - Pulled back from its all-time high with average volume behind today's small loss. Prior highs in the $230 area define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High After Streak of Small Gains - 2/29/2024 |
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C
A
S
I |
TENB
-
NASDAQ
Tenable Holdings
Computer Sftwr-Security
|
$45.55
|
-2.21
-4.63% |
$47.40
|
1,073,660
109.06% of 50 DAV
50 DAV is 984,500
|
$53.50
-14.86%
|
2/7/2024
|
$49.50
|
PP = $49.87
|
|
MB = $52.36
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Most Recent Note - 3/5/2024 9:09:00 PM
It will be dropped from the Featured Stocks list tonight after yet another damaging loss. Its Relative Strength rating has fallen to 59 while slumping well below its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Gap Up Gain Followed Latest Earnings Report - 2/7/2024 |
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C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
|
$277.67
|
+12.41
4.68% |
$283.45
|
26,497
147.21% of 50 DAV
50 DAV is 18,000
|
$266.88
4.04%
|
2/9/2024
|
$254.68
|
PP = $265.09
|
|
MB = $278.34
|
Most Recent Note - 3/4/2024 5:53:22 PM
Y - Posted a solid gain today with below-average volume for a best-ever close near its all-time high. 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 |
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C
A
S
I |
NOW
-
NYSE
ServiceNow
Computer Sftwr-Enterprse
|
$740.15
|
-35.94
-4.63% |
$767.22
|
1,957,479
169.63% of 50 DAV
50 DAV is 1,154,000
|
$815.32
-9.22%
|
2/22/2024
|
$771.75
|
PP = $815.32
|
|
MB = $856.09
|
Most Recent Note - 3/5/2024 9:13:17 PM
G - Color code is changed to green after today's volume-driven loss violated its 50 DMA line triggering a technical sell signal. A prompt rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Found Support With a Solid Gap Up from 10-Week Moving Average - 2/23/2024 |
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C
A
S
I |
SNPS
-
NASDAQ
Synopsys
Computer Sftwr-Design
|
$565.26
|
-29.06
-4.89% |
$591.23
|
977,146
68.24% of 50 DAV
50 DAV is 1,432,000
|
$629.38
-10.19%
|
2/22/2024
|
$600.65
|
PP = $582.85
|
|
MB = $611.99
|
Most Recent Note - 3/5/2024 9:06:52 PM
Y - Suffered a big loss today with below-average volume, retreating from a best-ever close. Previously noted - "A strong volume-driven gain and close above the pivot point is needed to clinch a proper technical buy signal. Found support recently at its 50 DMA line ($538). Reported Jan '24 quarterly earnings +36% on +21% sales revenues versus the year-ago period, its 3rd strong quarter above the +25% minimum earnings guideline (C criteria). Annual earnings growth (A criteria) has been strong and steady."
>>> FEATURED STOCK ARTICLE : Gapped Up for New High But Ended Near Session Low - 2/22/2024 |
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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 |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$19.65
|
+3.30
20.18% |
$21.02
|
2,500,467
1,938.35% of 50 DAV
50 DAV is 129,000
|
$18.79
4.58%
|
3/5/2024
|
$19.97
|
PP = $18.89
|
|
MB = $19.83
|
Most Recent Note - 3/5/2024 9:17:32 PM
Y - Closed in the middle of its intra-day range with a considerable volume-driven gain today. Highlighted in yellow in the earlier mid-day report with pivot point cited based on its 12/26/23 high plus 10 cents. Reported Dec '23 quarterly earnings +175% on +25% sales revenues versus the year-ago period, its 3rd strong quarterly comparison well above the +25% minimum earnings guideline (C criteria). Annual earnings history (A criteria) has been strong since its $21 IPO in May '21. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Big Gap Up Gain Triggered Technical Buy Signal - 3/5/2024 |
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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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