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AFTER MARKET UPDATE - WEDNESDAY, MARCH 27TH, 2024
Previous After Market Report Next After Market Report >>>
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DOW |
+477.75 |
39,760.08 |
+1.22% |
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Volume |
953,917,117 |
+8% |
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Volume |
4,795,867,100 |
-8% |
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NASDAQ |
+83.82 |
16,399.52 |
+0.51% |
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Advancers |
2,271 |
82% |
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Advancers |
3,100 |
73% |
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S&P 500 |
+44.91 |
5,248.49 |
+0.86% |
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Decliners |
487 |
18% |
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Decliners |
1,159 |
27% |
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Russell 2000 |
+44.19 |
2,114.35 |
+2.13% |
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52 Wk Highs |
230 |
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52 Wk Highs |
184 |
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S&P 600 |
+30.82 |
1,336.77 |
+2.36% |
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52 Wk Lows |
15 |
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52 Wk Lows |
79 |
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Major Indices Posted Gains With Positive Breadth and More Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices closed at or near session highs and the S&P 500 hit a fresh all-time high. The Russell 2000 continued its recent outperformance, climbing +2.2%. Volume reported was mixed, higher that the prior session total on the NYSE and lighter on the Nasdaq exchange. Breadth was clearly positive as advancers led decliners by more than a 4-1 margin on the NYSE and by nearly 3-1 on the Nasdaq exchange. There were 87 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 57 on the prior session. New 52-week highs totals expanded and outnumbered shrinking new 52-week lows 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 is perched near its all-time high.
Big tech leaders sputtered and NVIDIA (NVDA -2.50%), Meta Platforms (META -0.41%), Microsoft (MSFT -0.06%), and Broadcom (AVGO -0.98%) each ended lower.
The small cap index benefitted from strength in regional bank stocks even though Standard & Poor's lowered its outlook on First Commonwealth Bank (FCF +3.53%), M&T Bank (MTB +2.53%), Synovus Financial (SNV +3.43%), Trustmark (TRMK +2.97%), and Valley National Bancorp (VLY +3.81%). Ongoing stress in commercial real estate did not deter buying activity.
Eight of the 11 S&P 500 sectors gained more than 1.0%. The rate-sensitive utilities (+2.8%) and real estate (+2.4%) sectors were the top performers, responding to a drop in yields. The S&P 500 financial sector jumped +1.2%. The 10-yr note yield settled four basis points lower at 4.20% and the 2-yr note yield fell three basis points to 4.57%.
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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, Financial, Tech, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.03%), Broker/Dealer Index ($XBD +1.33%), and the Bank Index ($BKX +2.32%) posted unanimous gains. The tech sector had a positive bias as the Semiconductor Index ($SOX +0.99%), Networking Index ($NWX +1.36%), and the Biotech Index ($BTK +1.27%) each rose. Commodity-linked groups also had a positive bias as the Gold & Silver Index ($XAU +3.58%), Oil Services Index ($OSX +1.20%), and the Integrated Oil Index ($XOI +0.68%) each posted gains.
![]() PICTURED: The Semiconductor Index ($SOX +0.99%) is consolidating above its 50-day moving average (DMA) line after recently hitting new all-time highs.
| Oil Services |
$OSX |
90.73 |
+1.08 |
+1.20% |
+8.17% |
| Integrated Oil |
$XOI |
2,120.46 |
+14.37 |
+0.68% |
+13.85% |
| Semiconductor |
$SOX |
4,899.95 |
+48.07 |
+0.99% |
+17.35% |
| Networking |
$NWX |
801.53 |
+10.79 |
+1.36% |
-3.76% |
| Broker/Dealer |
$XBD |
609.02 |
+8.00 |
+1.33% |
+9.28% |
| Retail |
$RLX |
4,504.71 |
+45.87 |
+1.03% |
+15.84% |
| Gold & Silver |
$XAU |
123.73 |
+4.27 |
+3.58% |
-1.56% |
| Bank |
$BKX |
103.92 |
+2.36 |
+2.32% |
+8.23% |
| Biotech |
$BTK |
5,316.91 |
+66.44 |
+1.27% |
-1.88% |
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Consolidating After Powerful Breakout and Volume-Driven Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Paymentus Holdings (PAY -$0.60 or -2.60% to $22.48) is consolidating near its 52-week high, extended from the previously noted base. Its 50-day moving average (DMA) line ($18.08) coincides with prior highs in the $18 range defining important support to watch on pullbacks.
PAY was highlighted in yellow with pivot point cited based on its 12/26/23 high plus 10 cents in the 3/05/23 mid-day report (read here). It gapped up hitting a new 52-week high with a considerable volume-driven gain triggering a technical buy signal. It was shown in detail that evening in this FSU section with an annotated graph under the headline "Big Gap Up Gain Triggered Technical Buy Signal".
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 108 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
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$288.41
|
-9.42
-3.16% |
$297.35
|
3,187,602
118.67% of 50 DAV
50 DAV is 2,686,000
|
$307.74
-6.28%
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3/18/2024
|
$188.84
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PP = $292.76
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MB = $307.40
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Most Recent Note - 3/27/2024 5:06:34 PM
Y - Pulled back from its all-time high with today's 3rd consecutive loss backed by higher (+19% above average) volume undercutting prior highs in the $292 area. Near-term support to watch is its 50 DMA line ($274.96) and an upward trendline connecting its October-March lows. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Abover Recent Highs and Above 50-Day Average - 3/26/2024 |
View all notes |
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News |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$128.05
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-1.36
-1.05% |
$128.62
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3,931,674
72.30% of 50 DAV
50 DAV is 5,438,000
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$138.28
-7.40%
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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 - 3/25/2024 5:34:38 PM
G - Posted a small gain with light volume today. Volume totals have been cooling while stubbornly holding its ground after rallying from a noted new advanced "3-weeks tight" base with big volume-driven gains. Its 50 DMA line ($120.55) defines near-term support above prior lows in the $118 area.
>>> FEATURED STOCK ARTICLE : Perched at All-Time High After Rallying from Advanced "3-Weeks Tight" - 3/12/2024 |
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Set NEW NOTE alert |
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News |
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C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
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$315.57
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-3.57
-1.12% |
$321.77
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372,273
75.67% of 50 DAV
50 DAV is 492,000
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$325.63
-3.09%
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11/8/2023
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$220.13
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PP = $223.30
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MB = $234.47
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Most Recent Note - 3/25/2024 9:19:25 AM
G - Posted 6 consecutive small gains hovering near its all-time high. Its 50-day moving average (DMA) line ($279) defines near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High; Spiked Higher Following Earnings - 3/14/2024 |
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C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
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$1,233.80
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+10.69
0.87% |
$1,237.49
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138,077
63.63% of 50 DAV
50 DAV is 217,000
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$1,238.34
-0.37%
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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 - 3/25/2024 5:36:07 PM
G - Volume totals have been cooling while stubbornly holding its ground after wedging to a new all-time high. Its 50 DMA line ($1,140) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Perched in Tight Range Encountering Distribtion Near All-Time High - 3/15/2024 |
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C
A
S
I |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
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$322.23
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-7.78
-2.36% |
$333.84
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3,104,612
75.43% of 50 DAV
50 DAV is 4,116,000
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$365.00
-11.72%
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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 - 3/26/2024 5:36:32 PM
G - Volume totals have been cooling while consolidating above its 50 DMA ($313) which recently acted as support. It has not formed a sound base of sufficient length. 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
-
NYSE
e.l.f. Beauty
Cosmetics/Personal Care
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$196.25
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-1.57
-0.79% |
$200.05
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922,676
59.11% of 50 DAV
50 DAV is 1,561,000
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$221.83
-11.53%
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1/2/2024
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$138.23
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PP = $153.63
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MB = $161.31
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Most Recent Note - 3/25/2024 5:37:47 PM
G - Very extended from any sound base, consolidating well above its 50 DMA line ($181.56) which defines important near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Encountering Distributional Pressure Near All-Time High - 3/8/2024 |
View all notes |
Set NEW NOTE alert |
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News |
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C
A
S
I |
PCAR
-
NASDAQ
Paccar
Trucks and Parts-Hvy Duty
|
$124.46
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+1.45
1.18% |
$124.67
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1,349,079
57.07% of 50 DAV
50 DAV is 2,364,000
|
$124.89
-0.34%
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1/23/2024
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$100.35
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PP = $98.57
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MB = $103.50
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Most Recent Note - 3/26/2024 5:24:17 PM
G - Pulled back from its all-time high with today's 3rd consecutive loss with below-average volume. Its 50 DMA line ($109) defines near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hit New High With 5th Consecutive Gain - 3/21/2024 |
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C
A
S
I |
HUBB
-
NYSE
Hubbell
Electrical-Power/Equipmt
|
$413.86
|
+0.53
0.13% |
$415.79
|
273,994
62.84% of 50 DAV
50 DAV is 436,000
|
$419.65
-1.38%
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1/30/2024
|
$343.26
|
PP = $336.83
|
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MB = $353.67
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Most Recent Note - 3/26/2024 5:38:18 PM
G - Perched at its all-time high, very extended from the previously noted base. Its 50 DMA line ($366.73) defines important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hubbell Perched at All-Time High After 5 Weekly Gains - 3/22/2024 |
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C
A
S
I |
MANH
-
NASDAQ
Manhattan Associates
Computer Sftwr-Enterprse
|
$249.73
|
+0.15
0.06% |
$252.60
|
228,115
60.51% of 50 DAV
50 DAV is 377,000
|
$266.94
-6.45%
|
1/31/2024
|
$240.57
|
PP = $230.71
|
|
MB = $242.25
|
Most Recent Note - 3/25/2024 5:20:07 PM
G - Volume totals have been cooling while consolidating above its 50 DMA line ($242.87) which defines near-term support. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Manhattan Associates Consolidating Above 50-Day Moving Average - 3/25/2024 |
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C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
|
$296.43
|
+4.93
1.69% |
$297.48
|
28,278
122.95% of 50 DAV
50 DAV is 23,000
|
$307.48
-3.59%
|
2/9/2024
|
$254.68
|
PP = $265.09
|
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MB = $278.34
|
Most Recent Note - 3/25/2024 5:36:49 PM
G - Pulled back today from its all-time high with a 2nd consecutive loss on lighter volume. It is extended from the previously noted base. Prior highs in the $265-266 area define initial near-term support to watch on pullbacks.
>>> 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 |
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 |
NOW
-
NYSE
ServiceNow
Computer Sftwr-Enterprse
|
$759.00
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-19.57
-2.51% |
$786.33
|
1,399,688
109.44% of 50 DAV
50 DAV is 1,279,000
|
$815.32
-6.91%
|
2/22/2024
|
$771.75
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PP = $815.32
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MB = $856.09
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Most Recent Note - 3/25/2024 5:33:28 PM
Y - Posted a 6th consecutive small gain with light volume, quietly consolidating and closing above its 50 DMA line ($767). Prior lows in the $730 area define the next important near-term support to watch.
>>> FEATURED STOCK ARTICLE : NOW Quietly Rebounded Above 50-Day Moving Average Line - 3/20/2024 |
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C
A
S
I |
SNPS
-
NASDAQ
Synopsys
Computer Sftwr-Design
|
$573.22
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-11.10
-1.90% |
$588.12
|
858,983
65.17% of 50 DAV
50 DAV is 1,318,000
|
$629.38
-8.92%
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2/22/2024
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$600.65
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PP = $582.85
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MB = $611.99
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Most Recent Note - 3/26/2024 5:25:46 PM
Y - Perched within striking distance of its all-time high. Near-term support to watch is its 50 DMA line ($559). Previously noted - " A strong volume-driven gain and close above the pivot point is needed to clinch a proper technical buy signal."
>>> FEATURED STOCK ARTICLE : Rallying From Support at 50-Day Moving Average Line - 3/19/2024 |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$22.48
|
-0.60
-2.60% |
$23.19
|
404,183
122.48% of 50 DAV
50 DAV is 330,000
|
$25.21
-10.83%
|
3/5/2024
|
$19.97
|
PP = $18.89
|
|
MB = $19.83
|
Most Recent Note - 3/27/2024 5:03:25 PM
G - Consolidating near its 52-week high, extended from the previously noted base. Its 50 DMA line ($18.08) coincides with prior highs in the $18 range defining important support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating After Powerful Breakout and Volume-Driven Gains - 3/27/2024 |
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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.
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