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AFTER MARKET UPDATE - THURSDAY, MARCH 14TH, 2024
Previous After Market Report Next After Market Report >>>
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DOW |
-137.66 |
38,905.66 |
-0.35% |
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Volume |
1,179,125,793 |
+5% |
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Volume |
5,482,405,700 |
+12% |
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NASDAQ |
-49.24 |
16,128.53 |
-0.30% |
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Advancers |
583 |
21% |
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Advancers |
1,080 |
25% |
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S&P 500 |
-14.83 |
5,150.48 |
-0.29% |
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Decliners |
2,178 |
79% |
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Decliners |
3,204 |
75% |
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Russell 2000 |
-40.54 |
2,031.18 |
-1.96% |
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52 Wk Highs |
128 |
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52 Wk Highs |
93 |
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S&P 600 |
-20.80 |
1,281.50 |
-1.60% |
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52 Wk Lows |
59 |
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52 Wk Lows |
200 |
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Breadth Negative as Major Indices Fell With Higher Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (-0.3%), Nasdaq Composite (-0.3%), and Dow Jones Industrial Average (-0.4%) lost ground on Thursday but rebounded from their session lows. The Russell 2000 underperformed as it lost -2.0%. Volume reported was higher that the prior session totals on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by almost a 4-1 margin on the NYSE and by more than a 3-1 margin on the Nasdaq exchange. There were 50 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 74 on the prior session. New 52-week highs totals contracted but still outnumbered the new 52-week lows total on the NYSE, however new lows outnumbered new highs decisively 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 S&P 500 Index pulled back from its all time high with high volume behind its 2nd consecutive loss.
The February retail sales report was a bit weaker than expected but still up nicely versus the prior month. Initial and continuing jobless claims data reflected ongoing strength in the labor market. The 2-yr note yield rose seven basis points to 4.69% and the 10-yr note yield settled 11 basis points higher at 4.30%.
The rate-sensitive real estate sector (-1.6%) was the worst performer followed by the utilities (-0.8%) sector. Only two sectors finished higher. The energy sector jumped 1.1%, benefitting from positive movement in WTI crude oil futures ($81.23/bbl, +1.49, +1.9%) and natural gas futures ($1.74/mmbtu, +0.08, +4.8%).
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail and Energy-Linked Groups Rose Despite Broader Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.57%) posted a small gain. Energy-linked groups had a positive bias as the Oil Services Index ($OSX +0.84%) and the Integrated Oil Index ($XOI +0.74%) but posted gains. The Bank Index ($BKX -1.79%) and most other groups fell. The tech sector was led lower by the Biotech Index ($BTK -1.99%) while the Semiconductor Index ($SOX -1.75%) and the Networking Index ($NWX -1.59%) also fell. The Gold & Silver Index ($XAU -1.37%) pulled back after rallying as much as +18.9% from its 2/28/24 low.
![]() PICTURED: The Broker/Dealer Index ($XBD -0.42%) is perched at an all-time high.
| Oil Services |
$OSX |
87.12 |
+0.72 |
+0.84% |
+3.86% |
| Integrated Oil |
$XOI |
2,065.77 |
+15.10 |
+0.74% |
+10.92% |
| Semiconductor |
$SOX |
4,783.65 |
-85.30 |
-1.75% |
+14.57% |
| Networking |
$NWX |
782.19 |
-12.66 |
-1.59% |
-6.08% |
| Broker/Dealer |
$XBD |
587.92 |
-2.47 |
-0.42% |
+5.50% |
| Retail |
$RLX |
4,447.59 |
+25.40 |
+0.57% |
+14.37% |
| Gold & Silver |
$XAU |
119.69 |
-1.67 |
-1.37% |
-4.78% |
| Bank |
$BKX |
98.03 |
-1.78 |
-1.79% |
+2.09% |
| Biotech |
$BTK |
5,205.61 |
-105.87 |
-1.99% |
-3.93% |
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Hovering Near All-Time High; Spiked Higher Following Earnings
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Axon Enterprise Inc (AXON -$0.16 or -0.05% to $306.62) pulled back today with below-average volume, still hovering near its all-time high. Its 50-day moving average (DMA) line ($271) defines near-term support to watch.
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 was shown in detail in this FSU section on 2/12/24 with an annotated graph under the headline, "Reversal at All-Time High After 7 Consecutive Gains".
Bullish action came after AXON reported Dec '23 quarterly earnings +60% on +29% sales revenues versus the year-ago period, its 5th 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 1,468 in Dec '23, a reassuring sign concerning the I criteria. AXON has a Timeliness Rating of A and an Accumulation/Distribution Rating of B. |
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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
-
N
Arista Networks
Computer-Networking
|
$284.02
|
+3.31
1.18% |
$285.75
|
3,076,477
130.36% of 50 DAV
50 DAV is 2,360,000
|
$292.66
-2.95%
|
10/31/2023
|
$188.84
|
PP = $198.80
|
|
MB = $208.74
|
Most Recent Note - 3/12/2024 9:43:43 PM
G - Posted a solid gain today after testing support at its 50 DMA line ($263.70) on the prior session. It has not formed a sound base of sufficient length.
>>> FEATURED STOCK ARTICLE : Best Ever Close for Arista Networks - 3/1/2024 |
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C
A
S
I |
NVO
-
N
Novo Nordisk ADR
Medical-Ethical Drugs
|
$134.58
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+1.09
0.82% |
$135.92
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3,497,295
63.75% of 50 DAV
50 DAV is 5,486,000
|
$138.28
-2.68%
|
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 - 3/13/2024 12:40:50 PM
G - Stubbornly holding its ground after last week it rallied from a noted new advanced "3-weeks tight" base with big volume-driven gains. Recent lows in the $118 area define initial support to watch above its 50 DMA line ($116.52).
>>> FEATURED STOCK ARTICLE : Perched at All-Time High After Rallying from Advanced "3-Weeks Tight" - 3/12/2024 |
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C
A
S
I |
AXON
-
N
Axon Enterprise
Security/Sfty
|
$306.62
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-0.16
-0.05% |
$310.85
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427,390
90.36% of 50 DAV
50 DAV is 473,000
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$325.63
-5.84%
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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 - 3/14/2024 5:05:07 PM
G - Pulled back today with below-average volume, still hovering near its all-time high. Bullish action came after it reported Dec '23 quarterly earnings +60% on +29% sales revenues versus the year-ago period. Its 50-day moving average (DMA) line ($271) defines near-term support to watch. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High; Spiked Higher Following Earnings - 3/14/2024 |
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C
A
S
I |
TDG
-
N
TransDigm Group
Aerospace/Defense
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$1,185.90
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-1.50
-0.13% |
$1,192.58
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175,833
78.50% of 50 DAV
50 DAV is 224,000
|
$1,207.58
-1.80%
|
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 - 3/12/2024 9:07:11 PM
G - Posted a solid gain today with average volume. Its 50 DMA line ($1,103) 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 |
CRWD
-
N
CrowdStrike Holdings
Computer Sftwr-Security
|
$328.48
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-3.69
-1.11% |
$337.78
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2,759,737
64.92% of 50 DAV
50 DAV is 4,251,000
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$365.00
-10.01%
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1/2/2024
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$246.42
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PP = $261.91
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MB = $275.01
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Most Recent Note - 3/12/2024 9:45:23 PM
G - Perched within close striking distance of its all-time high, it has not formed a sound base of sufficient length. Its 50 DMA ($300) recently acted as support. Fundamentals remain strong after it reported Jan '24 quarterly earnings +102% on +33% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure After Spiking to New High - 3/11/2024 |
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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 |
ELF
-
N
e.l.f. Beauty
Cosmetics/Personal Care
|
$200.29
|
-6.13
-2.97% |
$207.81
|
792,212
51.01% of 50 DAV
50 DAV is 1,553,000
|
$221.83
-9.71%
|
1/2/2024
|
$138.23
|
PP = $153.63
|
|
MB = $161.31
|
Most Recent Note - 3/14/2024 5:03:49 PM
G - Extended from any sound base, it pulled back today with below-average volume. Its 50 DMA line ($174) defines important near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Encountering Distributional Pressure Near All-Time High - 3/8/2024 |
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C
A
S
I |
KOF
-
NYSE
Coca Cola Femsa Sab Ads
Beverages-Non-Alcoholic
|
$99.64
|
-0.09
-0.09% |
$100.63
|
103,970
59.96% of 50 DAV
50 DAV is 173,400
|
$104.38
-4.54%
|
1/12/2024
|
$93.38
|
PP = $99.34
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MB = $104.31
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Most Recent Note - 3/12/2024 9:37:21 PM
Y - Posted a 2nd consecutive gain today with slightly above-average volume, finding support above its 50 DMA line ($95.23). There was 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
-
N
Paccar
Trucks and Parts-Hvy Duty
|
$115.21
|
-0.76
-0.66% |
$116.75
|
2,838,691
125.72% of 50 DAV
50 DAV is 2,258,000
|
$116.88
-1.43%
|
1/23/2024
|
$100.35
|
PP = $98.57
|
|
MB = $103.50
|
Most Recent Note - 3/13/2024 10:18:12 PM
G - Posted a gain for a best-ever close today, and it has been steadily wedging higher with gains lacking great volume conviction. Its 50 DMA line ($104.30) 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
-
N
Hubbell
Electrical-Power/Equipmt
|
$401.83
|
+2.30
0.58% |
$404.15
|
630,142
152.58% of 50 DAV
50 DAV is 413,000
|
$400.00
0.46%
|
1/30/2024
|
$343.26
|
PP = $336.83
|
|
MB = $353.67
|
Most Recent Note - 3/12/2024 9:01:56 PM
G - Rallied for a new all-time high and closed at the session high with today's volume-driven gain, getting more extended from the previously noted base. Its 50 DMA line ($350) defines 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 |
MANH
-
N
Manhattan Associates
Computer Sftwr-Enterprse
|
$250.67
|
-1.00
-0.40% |
$253.70
|
431,895
119.31% of 50 DAV
50 DAV is 362,000
|
$266.94
-6.10%
|
1/31/2024
|
$240.57
|
PP = $230.71
|
|
MB = $242.25
|
Most Recent Note - 3/12/2024 9:47:13 PM
G - Posted a small gain today with +47% above average volume. It is extended from the previously noted base. Its 50 DMA line ($234) defines near-term support to watch above prior highs in the $230 area.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High After Streak of Small Gains - 2/29/2024 |
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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 |
USLM
-
N
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
|
$293.11
|
-0.04
-0.01% |
$296.35
|
32,503
162.52% of 50 DAV
50 DAV is 20,000
|
$298.36
-1.76%
|
2/9/2024
|
$254.68
|
PP = $265.09
|
|
MB = $278.34
|
Most Recent Note - 3/13/2024 10:16:16 PM
G - Wedged to another new all-time high with below-average volume behind today's 5th consecutive gain. Prior highs in the $265-266 area define initial near-term support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Hit New All Time High With Light Volume Behind 5th Straight Gain - 3/13/2024 |
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C
A
S
I |
NOW
-
N
ServiceNow
Computer Sftwr-Enterprse
|
$779.49
|
+2.61
0.34% |
$790.00
|
883,465
70.40% of 50 DAV
50 DAV is 1,255,000
|
$815.32
-4.39%
|
2/22/2024
|
$771.75
|
PP = $815.32
|
|
MB = $856.09
|
Most Recent Note - 3/12/2024 9:39:47 PM
Y - Posted a solid gap up gain today with above-average volume. Found prompt support near its 50 DMA line ($754) in recent weeks while consolidating, while recent lows define the next important near-term support to watch.
>>> 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 Inc
Computer Sftwr-Design
|
$559.66
|
-1.54
-0.27% |
$567.17
|
726,532
53.48% of 50 DAV
50 DAV is 1,358,600
|
$629.38
-11.08%
|
2/22/2024
|
$600.65
|
PP = $582.85
|
|
MB = $611.99
|
Most Recent Note - 3/13/2024 10:20:11 PM
Y - Pulled back today with higher (still below-average) volume. Volume totals have been cooling in recent weeks while consolidating. The prior low ($555 on 3/11/24) defines near-term support above its 50 DMA line ($544.38). Previously noted - "A strong volume-driven gain and close above the pivot point is needed to clinch a proper technical buy signal. 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 |
PAY
-
N
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$23.48
|
-1.39
-5.59% |
$24.78
|
885,777
336.80% of 50 DAV
50 DAV is 263,000
|
$24.99
-6.04%
|
3/5/2024
|
$19.97
|
PP = $18.89
|
|
MB = $19.83
|
Most Recent Note - 3/14/2024 12:16:57 PM
G - Pulling back from its 52-week high with today's loss following 4 consecutive volume-driven gains. Very extended from the previously noted base. Prior highs in the $18 range define important initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Big Gap Up Gain Triggered Technical Buy Signal - 3/5/2024 |
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C
A
S
I |
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|
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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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