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AFTER MARKET UPDATE - WEDNESDAY, MAY 15TH, 2024
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DOW |
+349.89 |
39,908.00 |
+0.88% |
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Volume |
984,071,106 |
-6% |
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Volume |
8,627,572,700 |
+18% |
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NASDAQ |
+231.21 |
16,742.39 |
+1.40% |
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Advancers |
1,973 |
70% |
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Advancers |
2,572 |
61% |
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S&P 500 |
+61.47 |
5,308.15 |
+1.17% |
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Decliners |
830 |
30% |
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Decliners |
1,667 |
39% |
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Russell 2000 |
+23.77 |
2,109.46 |
+1.14% |
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52 Wk Highs |
276 |
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52 Wk Highs |
263 |
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S&P 600 |
+5.28 |
1,345.71 |
+0.39% |
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52 Wk Lows |
12 |
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52 Wk Lows |
78 |
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New all-time highs noted on 5/14/24 for the Nasdaq Composite Index signaled a new confirmed uptrend for the market (M criteria). New buying efforts should only be made in stocks meeting all key criteria under the fact-based investment system's guidelines.
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Major Indices Surged to New Record Highs With Greater Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+1.2%), Nasdaq Composite (+1.4%), and Dow Jones Industrial Average (+0.8%) closed at or near their best levels of the day, setting fresh record highs. Volume reported was mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Breadth clearly had a positive bias as advancers led decliners by a 5-2 margin on the NYSE and nearly 5-3 on the Nasdaq exchange. Leadership clearly improved as there were 115 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page versus 60 on the prior session. New 52-week highs totals expanded and solidly outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are now in a confirmed uptrend (M criteria) and all 3 managed new high closes on Wednesday.
PICTURED: The S&P 600 Small Cap Index hit a new 52-week high.
The price action on Wednesday was in response to the April Consumer Price Index (CPI) showing disinflation on a year-over-year basis in total CPI (to 3.4% from 3.5%) and core CPI (to 3.6% from 3.8%). This followed three consecutive hotter-than-expected CPI readings, along with some other recent reports that indicated sticky prices, which contributed to growing worries about the Fed staying restrictive for longer than anticipated. April Retail Sales data also reflected a slowdown in consumer spending activity. The 10-yr note yield settled nine basis points lower at 4.36% and the 2-yr note yield declined eight basis points to 4.74%.
Broad-based gains allowed four S&P 500 sectors to close more than +1.0% higher. Information technology (+2.3%) led as NVIDIA (NVDA +3.58%) and Broadcom (AVGO +4.07%) posted standout gains. Meanwhile, the consumer discretionary sector was the worst performer as losses in Tesla (TSLA -2.01%) and Amazon.com (AMZN -0.58%) created a drag on the sector. Meme stocks encountered some profit-taking activity after massive moves higher over the last few sessions. GameStop (GME -18.87%) and AMC Entertainment (AMC -20.00%) both logged sharp declines.
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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, Tech, and Gold & Silver Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +1.03%) and the Broker/Dealer Index ($XBD +1.53%) again posted influential gains on Wednesday while the Retail Index ($RLX +0.04%) finished flat. The tech sector had a positive bias led by the Semiconductor Index ($SOX +2.88%) while the Biotech Index ($BTK +1.34%) and the Networking Index ($NWX +1.11%) both posted smaller gains. The Gold & Silver Index ($XAU +1.10%) rose while the Oil Services ($OSX -0.18%) and the Integrated Oil Index ($XOI -0.25%) both ended slightly lower.
![]() PICTURED: The Integrated Oil Index ($XOI -0.25%) slumped further below its 50-day moving average (DMA) line and underciut the prior low with a 4th consecutive loss.
| Oil Services |
$OSX |
87.67 |
-0.16 |
-0.18% |
+4.52% |
| Integrated Oil |
$XOI |
2,100.43 |
-5.23 |
-0.25% |
+12.78% |
| Semiconductor |
$SOX |
5,045.08 |
+141.15 |
+2.88% |
+20.83% |
| Networking |
$NWX |
799.35 |
+8.77 |
+1.11% |
-4.02% |
| Broker/Dealer |
$XBD |
635.44 |
+9.59 |
+1.53% |
+14.02% |
| Retail |
$RLX |
4,468.32 |
+1.90 |
+0.04% |
+14.90% |
| Gold & Silver |
$XAU |
144.67 |
+1.58 |
+1.10% |
+15.10% |
| Bank |
$BKX |
107.64 |
+1.10 |
+1.03% |
+12.10% |
| Biotech |
$BTK |
5,279.07 |
+69.66 |
+1.34% |
-2.58% |
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Strong Breakout After 6-Week Flat Base
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Celestica (CLS +$4.06 or +8.46% to $52.06) finished strong today after highlighted in yellow in the mid-day report (read here) with pivot point cited based on its 4/04/24 high plus 10 cents after a 6-week flat base. It gapped up hitting a new 52-week high (N criteria), adding to volume-driven gains after rebounding above its 50-day moving average (DMA) line. The gain and strong close above the pivot point backed by +133% above average volume clinched a proper technical buy signal.
It hails from the high ranked Elec-Contract Mfg group which is now ranked 38th on the 197 Industry Groups List (L criteria). CLS recently reported earnings +83% on +20% sales revenues for the Mar '24 quarter versus the year ago period, and 7 of the last 8 quarterly comparisons were at or above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history has been strong since bottoming in FY '19. It has a highest possible 99 Earnings Per Share Rating.
There are only 119 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 322 in Jun '23 to 484 in Mar '24, a reassuring sign concerning the I criteria.
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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 |
AXON
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NASDAQ
Axon Enterprise
Security/Sfty
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$293.95
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-2.51
-0.85% |
$300.00
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656,491
132.09% of 50 DAV
50 DAV is 497,000
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$329.87
-10.89%
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4/5/2024
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$309.90
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PP = $325.73
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MB = $342.02
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Most Recent Note - 5/14/2024 4:44:40 PM
G - Posted a 6th consecutive loss today undercutting the prior low but finished in the upper third of its intra-day range. A rebound above the 50 DMA line is needed for its outlook to improve. Reported Mar '24 quarterly earnings +31% on +34% sales revenues versus the year-ago period. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Found Support Near 50-Day Moving Average After Recent Stall - 4/29/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
TDG
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NYSE
TransDigm Group
Aerospace/Defense
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$1,289.20
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+13.43
1.05% |
$1,292.12
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255,281
127.64% of 50 DAV
50 DAV is 200,000
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$1,330.82
-3.13%
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4/12/2024
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$1,224.21
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PP = $1,246.32
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MB = $1,308.64
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Most Recent Note - 5/13/2024 5:47:51 PM
G - Pulled back for a 2nd loss today with higher volume after 7 consecutive gains as it rose to new all-time highs. It is extended from any sound base and its 50 DMA line ($1,226) defines near-term support to watch on pullbacks. Reported Mar '24 quarterly earnings +34% on +21% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : Found Support at 50-Day Moving Average Line and Hit New High - 4/30/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
USLM
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NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$373.09
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-1.98
-0.53% |
$378.78
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38,017
146.22% of 50 DAV
50 DAV is 26,000
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$378.45
-1.42%
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2/9/2024
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$254.68
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PP = $265.09
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MB = $278.34
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Most Recent Note - 5/14/2024 4:41:59 PM
G - Posted a quiet gain today for a best-ever close. Stubbornly holding its ground after a recent streak of 9 consecutive volume-driven gains into new all-time high territory. Its 50 DMA line ($310) defines important near-term support to watch on pullbacks. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Stubbornly Held Ground and Posted Quiet Gain for Best-Ever Close - 5/14/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
CLS
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NYSE
Celestica
Elec-Contract Mfg
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$52.06
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+4.06
8.46% |
$52.46
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4,866,351
217.54% of 50 DAV
50 DAV is 2,237,000
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$51.12
1.84%
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5/15/2024
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$51.52
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PP = $51.22
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MB = $53.78
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Most Recent Note - 5/15/2024 4:55:39 PM
Y - Finished strong after highlighted in yellow in the earlier mid-day report with pivot point cited based on its 4/04/24 high plus 10 cents after a 6-week flat base. Gapped up hitting a new 52-week high, adding to volume-driven gains after rebounding above its 50 DMA line. The gain and strong close above the pivot point backed by at least +40% above average volume clinched a proper technical buy signal. Reported earnings +83% on +20% sales revenues for the Mar '24 quarter versus the year-ago period, and 7 of the last 8 quarterly comparisons were at or above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history has been strong since bottoming in FY '19. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Strong Breakout After 6-Week Flat Base - 5/15/2024 |
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,
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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