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AFTER MARKET UPDATE - THURSDAY, APRIL 20TH, 2017
Previous After Market Report Next After Market Report >>>
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DOW |
+174.22 |
20,578.71 |
+0.85% |
|
Volume |
1,022,166,390 |
+5% |
|
Volume |
1,594,249,610 |
-1% |
|
NASDAQ |
+53.75 |
5,916.78 |
+0.92% |
|
Advancers |
2,085 |
71% |
|
Advancers |
2,054 |
72% |
|
S&P 500 |
+17.67 |
2,355.84 |
+0.76% |
|
Decliners |
839 |
29% |
|
Decliners |
789 |
28% |
|
Russell 2000 |
+17.02 |
1,384.15 |
+1.24% |
|
52 Wk Highs |
123 |
|
|
52 Wk Highs |
131 |
|
|
S&P 600 |
+11.79 |
842.03 |
+1.42% |
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52 Wk Lows |
22 |
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52 Wk Lows |
34 |
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Leadership Expands as Indices Rally With Greater Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks rallied higher on Thursday. The Dow was up 174 points to 20578 and the S&P 500 added 17 points to 2355, but both ended below their respective 50-day moving average (DMA) lines. The Nasdaq Composite gained 53 points to 5916. The volume totals reported were higher than the prior session total on the NYSE and on the Nasdaq exchange, indicative of a reassuring increase in institutional buying demand. Advancers led decliners by a 5-2 margin on the NYSE ann on the Nasdaq exchange. Leadership improved as there were 69 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 46 on the prior session. New 52-week highs totals expanded and solidly outnumbered a shrinking list of new 52-week lows on the NYSE and on the Nasdaq exchange. PICTURED: The S&P 500 Index halted its slide above its prior low and has rebounded to its 50-day moving average (DMA) line. Volume is not plotted on the graph but was reported higher than the prior session, a reassuring sign. Subsequent losses leading to a violation of prior lows would raise greater concerns. The downward trendline and defines the next resistance level.
The major averages' (M criteria) uptrend has recently been under pressure. Focus should also remain on the number of high-ranked stocks hitting new highs in the days ahead. For any meaningful market rally there must be healthy crop of leadership (many stocks hitting new highs). The Featured Stocks Page lists noteworthy high-ranked leaders.
The major averages advanced on the session as investors digested corporate earnings reports and commentary from Treasury Secretary Steve Mnuchin. On Thursday, Secretary Mnuchin stated that the Trump administration was close to a “major tax reform.” In earnings, American Express (AXP +5.92%) led the Dow Jones higher, with a solid quarterly performance amid an increase in card member spending. On the data front, initial jobless claims came in at 244,000, above the expected 240,000.
Seven of 11 sectors in the S&P 500 ended in positive territory. Financials paced the gains with Sallie Mae +10.2% and others rallying. KeyCorp (KEY +4.84%) rose as the bank beat estimates on the top and bottom line. In Industrials, CSX Corp (CSX +5.65%) rose after quarterly profit exceeded expectations helped by the ongoing recovery in shipments of coal. Consumer Staples shares finished lower with Phillip Morris (PM -3.5%) down as the company reported weaker cigarette volumes across all regions. Telecom stocks underperformed with Verizon (VZ -1.08%) falling after quarterly revenue came in below Street forecasts.
Treasuries declined with the benchmark 10-year note down 6/32 to yield 2.24%. In commodities, NYMEX WTI crude lost 0.3% to $50.27/barrel. In FOREX, the Dollar Index gained 0.1%. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial Groups Provided Leadership Amid Broad Rally
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +1.87%) and the Broker/Dealer Index ($XBD +2.83%) were standout gainers while the Retail Index ($RLX +1.00%) also posted a solid gain on Thursday. The tech sector saw unanimous gains from the Semiconductor Index ($SOX +1.58%), Networking Index ($NWX +0.66%), and the Biotechnology Index ($BTK +0.74%). Commodity-linked groups also had a positive bias as the Gold & Silver Index ($XAU +0.55%), Oil Services Index ($OSX +0.18%), and the Integrated Oil Index ($XOI +0.46%) each rose modestly. Charts courtesy www.stockcharts.com
 PICTURED: The Broker/Dealer Index ($XBD +2.83%) found support near its prior lows and rallied above a downward trendline toward its 50-day moving average (DMA) line. As longtime readers know, the financial groups have been reliable "leading indicators" in recent years. Subsequent gains above the 50 DMA line would bode well for the broader market outlook. Further deterioration in the financial groups would bode poorly for the broader market outlook,
| Oil Services |
$OSX |
159.21 |
+0.28 |
+0.18% |
-13.37% |
| Integrated Oil |
$XOI |
1,148.29 |
+5.28 |
+0.46% |
-9.44% |
| Semiconductor |
$SOX |
997.55 |
+15.50 |
+1.58% |
+10.05% |
| Networking |
$NWX |
447.60 |
+2.94 |
+0.66% |
+0.34% |
| Broker/Dealer |
$XBD |
211.88 |
+5.83 |
+2.83% |
+3.21% |
| Retail |
$RLX |
1,461.76 |
+14.45 |
+1.00% |
+8.84% |
| Gold & Silver |
$XAU |
86.77 |
+0.47 |
+0.54% |
+10.03% |
| Bank |
$BKX |
90.38 |
+1.65 |
+1.86% |
-1.54% |
| Biotech |
$BTK |
3,520.52 |
+25.78 |
+0.74% |
+14.49% |
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Seriously Applying the Fact-Based System Now
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Asset Management Services Using the Fact-Based Investment System You can have professional help in limiting your losses and maximizing your gains in all market environments. For help with how your portfolio is managed click here and indicate "Find a Broker". Account minimum $250,000. |
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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 |
SBCF
-
NASDAQ
Seacoast Banking Corp Fl
BANKING - Regional - Mid-Atlantic Banks
|
$24.54
|
+0.70
2.94% |
$24.69
|
267,496
60.11% of 50 DAV
50 DAV is 445,000
|
$25.13
-2.35%
|
2/13/2017
|
$24.84
|
PP = $23.10
|
|
MB = $24.26
|
Most Recent Note - 4/18/2017 2:26:15 PM
G - Consolidating just below its 50 DMA line ($23.57). Gains above that important short-term average would help its outlook improve. Subsequent deterioration below the recent low ($21.89 on 3/22/17) would raise more serious concerns and trigger a worrisome technical sell signal.
>>> FEATURED STOCK ARTICLE : Rebound After Slump Below 50-Day Average Into Prior Base - 3/28/2017 |
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C
A
S
I |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
|
$25.76
|
+0.93
3.75% |
$25.80
|
390,680
135.18% of 50 DAV
50 DAV is 289,000
|
$26.94
-4.37%
|
3/13/2017
|
$25.54
|
PP = $26.40
|
|
MB = $27.72
|
Most Recent Note - 4/20/2017 5:06:14 PM
Y - Color code is changed to yellow after rebounding above its 50 DMA line with above average volume behind today's 4th consecutive gain. Damaging losses below its recent low ($23.64 on 4/17/17) would raise more serious concerns.
>>> FEATURED STOCK ARTICLE : Positive Reversal After Intra-day Low Undercut Prior Lows - 4/17/2017 |
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C
A
S
I |
NSP
-
NYSE
Insperity Inc
Comml Svcs-Outsourcing
|
$89.60
|
+2.75
3.17% |
$89.75
|
98,322
63.03% of 50 DAV
50 DAV is 156,000
|
$90.55
-1.05%
|
2/14/2017
|
$84.30
|
PP = $82.28
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|
MB = $86.39
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Most Recent Note - 4/20/2017 5:04:24 PM
G - Finished near the session high and within close striking distance of its all-time high. Found support while consolidating in an orderly fashion above its 50 DMA line. Old highs the $82 area define the next important support level to watch.
>>> FEATURED STOCK ARTICLE : Ordinary Pullback From Highs With Lighter Volume - 3/22/2017 |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
|
$67.56
|
+3.96
6.23% |
$68.34
|
454,192
287.46% of 50 DAV
50 DAV is 158,000
|
$64.32
5.04%
|
9/29/2016
|
$46.12
|
PP = $47.82
|
|
MB = $50.21
|
Most Recent Note - 4/20/2017 12:21:42 PM
G - Hitting a new all-time high with today's 4th consecutive gain on ever-increasing volume. Found prompt support after violating its 50 DMA line on 4/11/17. Recent low ($57.89 on 4/11/17) defines near-term support to watch on pullbacks. Repeatedly noted with caution - "The 2 latest quarterly comparisons (Sep and Dec '16) were below the +25% minimum earnings guideline (C criteria), and its waning sales revenues growth rate was also noted recently as a fundamental concern. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Support Shown Promptly After 50-Day Moving Average Violation - 4/19/2017 |
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C
A
S
I |
SIRI
-
NASDAQ
Sirius X M Holdings Inc
MEDIA - Broadcasting - Radio
|
$5.07
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+0.00
0.00% |
$5.12
|
38,412,283
161.65% of 50 DAV
50 DAV is 23,762,000
|
$5.53
-8.32%
|
3/13/2017
|
$5.48
|
PP = $5.32
|
|
MB = $5.59
|
Most Recent Note - 4/19/2017 4:21:19 PM
G - Managed a "positive reversal" for a one cent gain backed by twice its average volume, up from the session's early low ($4.95). Color code was changed to green after early losses undercut the recent low ($5.04 on 3/27/17). A rebound and close above its 50 DMA line ($5.09) is needed for its outlook to improve. More damaging losses would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Consolidating Above Near-Term Support Level - 4/13/2017 |
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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 |
BEAT
-
NASDAQ
BioTelemetry Inc
Medical-Services
|
$31.45
|
+0.75
2.44% |
$31.65
|
454,119
108.12% of 50 DAV
50 DAV is 420,000
|
$31.70
-0.79%
|
2/14/2017
|
$25.10
|
PP = $24.55
|
|
MB = $25.78
|
Most Recent Note - 4/20/2017 5:09:00 PM
G - Rallied today with average volume for a best-ever close. Disciplined investors avoid chasing extended stocks. During recent consolidations it found support well above its 50 DMA line and above prior highs in the $24 area.
>>> FEATURED STOCK ARTICLE : Perched Near High, Extended From Prior Base - 4/3/2017 |
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C
A
S
I |
ULTA
-
NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other
|
$278.73
|
-0.73
-0.26% |
$281.39
|
559,525
86.33% of 50 DAV
50 DAV is 648,100
|
$289.27
-3.64%
|
3/6/2017
|
$274.96
|
PP = $278.73
|
|
MB = $292.67
|
Most Recent Note - 4/19/2017 12:47:41 PM
Y - A volume-driven loss today is raising concerns and testing prior highs in the $278 area defining important support along with its 50 DMA line ($279.61). More damaging losses leading to violations would raise concerns and trigger technical sell signals. Its Relative Strength rating has slumped to 79, just below the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling Following Technical Breakout - 4/7/2017 |
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C
A
S
I |
ESNT
-
NYSE
Essent Group Ltd
Finance-MrtgandRel Svc
|
$38.64
|
-0.08
-0.21% |
$39.43
|
577,592
82.16% of 50 DAV
50 DAV is 703,000
|
$39.50
-2.18%
|
4/4/2017
|
$36.38
|
PP = $36.81
|
|
MB = $38.65
|
Most Recent Note - 4/19/2017 12:22:26 PM
G - Color code is changed to green as today's volume-driven gain has it rallying above its "max buy" level to a new all-time high. Its 50 DMA line ($35.94) and recent lows define important near-term support.
>>> FEATURED STOCK ARTICLE : Quiet Volume Behind Gain for New High Close - 4/10/2017 |
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C
A
S
I |
VEEV
-
NYSE
Veeva Systems Inc Cl A
Computer Sftwr-Medical
|
$52.50
|
+1.49
2.92% |
$52.59
|
1,535,076
122.22% of 50 DAV
50 DAV is 1,256,000
|
$51.95
1.06%
|
3/16/2017
|
$49.00
|
PP = $48.05
|
|
MB = $50.45
|
Most Recent Note - 4/20/2017 5:07:58 PM
G - Hit a new all-time high and finished near the session high with today's solid gain backed by above average volume. Prior highs in the $47-48 area define support coinciding with its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Hovering Near High, Stubbornly Holding its Ground - 4/18/2017 |
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C
A
S
I |
ANET
-
NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment
|
$136.47
|
+2.64
1.97% |
$137.09
|
717,797
82.70% of 50 DAV
50 DAV is 868,000
|
$135.27
0.89%
|
4/17/2017
|
$132.75
|
PP = $135.27
|
|
MB = $142.03
|
Most Recent Note - 4/17/2017 5:45:41 PM
Y - Volume totals have been cooling while stubbornly holding its ground, remaining perched near its all-time high. It has formed an advanced "3-weeks tight" base and its color code is changed to yellow. Subsequent volume-driven gains above the new pivot point cited would trigger a new (or add-on) technical buy signal.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After a Considerable Rally - 4/5/2017 |
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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 |
IBP
-
NYSE
Installed Building Prod
DIVERSIFIED SERVICES - Business/Management Services
|
$52.80
|
+0.80
1.54% |
$53.10
|
128,564
84.58% of 50 DAV
50 DAV is 152,000
|
$53.00
-0.38%
|
4/17/2017
|
$51.75
|
PP = $53.10
|
|
MB = $55.76
|
Most Recent Note - 4/17/2017 5:52:59 PM
Y - Volume totals have been cooling while hovering in a tight range near its all-time high. It recently formed an advanced "3-weeks tight" base and its color code is changed to yellow. Subsequent volume-driven gains above the new pivot point cited may trigger a new (or add-on) technical buy signal. Its 50 DMA line ($47.83) defines initial support to watch above prior highs in the $44 area.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High Following Volume-Driven Gains - 4/4/2017 |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$78.67
|
+1.58
2.05% |
$79.12
|
97,622
57.09% of 50 DAV
50 DAV is 171,000
|
$79.94
-1.59%
|
4/17/2017
|
$76.77
|
PP = $80.04
|
|
MB = $84.04
|
Most Recent Note - 4/19/2017 4:28:30 PM
Y - Posted a gain with light volume, still building on a new flat base within close striking distance of its all-time high. New pivot point cited was based on its 3/01/17 high plus 10 cents. Subsequent volume-driven gains for new highs may trigger a new (or add-on) technical buy signal. Its 50 DMA line ($73.09) defines near-term support to watch above prior highs in the $69 area.
>>> FEATURED STOCK ARTICLE : Best Ever Close For High-Ranked Medical Product Maker - 3/31/2017 |
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C
A
S
I |
PLAY
-
NASDAQ
Dave & Buster's Ent Inc
Retail-Restaurants
|
$62.77
|
+1.45
2.36% |
$63.13
|
754,518
92.92% of 50 DAV
50 DAV is 812,000
|
$63.12
-0.55%
|
2/23/2017
|
$55.41
|
PP = $58.35
|
|
MB = $61.27
|
Most Recent Note - 4/20/2017 5:02:49 PM
G - Matched its all-time high and ended at a best-ever close with average volume behind today's 5th consecutive gain. Its 50 DMA line ($58.90) defines near-term support to watch on pullbacks. Latest quarter was below the +25% minimum guideline (C criteria), raising fundametal concerns.
>>> FEATURED STOCK ARTICLE : Retreated From All-Time High Following Earnings Report - 3/29/2017 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$36.70
|
+1.15
3.23% |
$36.75
|
908,747
158.59% of 50 DAV
50 DAV is 573,000
|
$36.10
1.66%
|
3/27/2017
|
$32.80
|
PP = $33.55
|
|
MB = $35.23
|
Most Recent Note - 4/20/2017 12:43:25 PM
G - Color code is changed to green after rallying above its "max buy" level for a new all-time high with today's 4th consecutive volume-driven gain. Bullish action has continued since reporting earnings +22% on +16% sales revenues for the Jan '17 quarter, below the +25% minimum earnings guideline (C criteria).
>>> FEATURED STOCK ARTICLE : No Resistance Remains and Earnings News is Due - 3/27/2017 |
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C
A
S
I |
MOMO
-
NASDAQ
Momo Inc Ads Cl A
INTERNET - Content
|
$38.06
|
+0.85
2.28% |
$38.42
|
2,779,785
54.80% of 50 DAV
50 DAV is 5,073,000
|
$39.25
-3.03%
|
3/7/2017
|
$29.71
|
PP = $27.83
|
|
MB = $29.22
|
Most Recent Note - 4/18/2017 12:27:35 PM
G - Hovering near its all-time high, very extended from the previously noted base. Its 50 DMA line ($31) and prior highs in the $28 area define important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base and Perched Near High - 4/6/2017 |
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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 |
|
|
|
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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are the property of their respective owners, and are
likewise used for identification purposes only.
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