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AFTER MARKET UPDATE - WEDNESDAY, JUNE 5TH, 2024
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DOW |
+96.04 |
38,807.33 |
+0.25% |
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Volume |
855,270,843 |
-7% |
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Volume |
5,372,678,500 |
+6% |
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NASDAQ |
+330.86 |
17,187.90 |
+1.96% |
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Advancers |
1,837 |
67% |
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Advancers |
2,764 |
65% |
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S&P 500 |
+62.69 |
5,354.03 |
+1.18% |
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Decliners |
920 |
33% |
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Decliners |
1,487 |
35% |
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Russell 2000 |
+29.93 |
2,063.87 |
+1.47% |
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52 Wk Highs |
96 |
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52 Wk Highs |
116 |
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S&P 600 |
+13.94 |
1,319.34 |
+1.07% |
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52 Wk Lows |
45 |
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52 Wk Lows |
128 |
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Indices Posted Gains With Greater Leadership Underpinning Rally
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+1.2%) and Nasdaq Composite (+2.0%) closed at fresh all-time highs. Volume totals reported were mixed, lighter than the prior session on the NYSE and higher on the Nasdaq exchange. Breadth was positive as advancers led decliners by a 2-1 margin on the NYSE and nearly 2-1 on the Nasdaq exchange. Leadership improved as there were 38 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page versus the total of 18 on the prior session. New 52-week high outnumbered new 52-week lows on the NYSE, but new 52-week lows outnumbered new 52-week highs for a 6th consecutive session on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria) that recently endured some pressure. Disciplined investors will watch for encouraging new highs totals to see the market showing some broad-based strength and resiience. Any uptrend requires healthy leadership.
PICTURED: The Dow Jones Industrial Average has rebounded to its 50-day moving average (DMA) line.
The ISM Non-Manufacturing Index for May showed some deceleration in the Prices Index from April. With NVIDIA (NVDA +5.18%) jumping to have a market value over $3 trillion, the market showed greater enthusiasm on the buy side. Microsoft (MSFT +1.91%) rose and other mega caps boosted the broader market. Meta Platforms (META +3.79%) and Broadcom (AVGO +6.18%) were also among standouts.
The S&P information technology (+2.6%), communication services (+1.5%), and consumer discretionary (+0.7%) sectors led gainers. Treasury yields fell as the 10-yr note yield settled five basis points lower at 4.29% and the 2-yr note yield fell four basis points to 4.73%.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech Sector, Broker/Dealer, and Retail Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.02%) and the Retail Index ($RLX +1.00%) both outpaced the Bank Index ($BKX +0.20%). The tech sector had a positive bias, clearly led higher by the Semiconductor Index ($SOX +4.52%), with the Networking Index ($NWX +2.45%) and the Biotech Index ($BTK +1.90%) also posting solid gains. The Gold & Silver Index ($XAU +1.57%) posted a gain. Energy-linked groups were mixed and little changed with the Oil Services ($OSX +0.23%) inching higher and the Integrated Oil Index ($XOI -0.23%) inching lower.
![]() PICTURED: The Retail Index ($RLX +1.00%) is rebounding back toward its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
80.09 |
+0.19 |
+0.23% |
-4.51% |
| Integrated Oil |
$XOI |
2,007.71 |
-4.58 |
-0.23% |
+7.80% |
| Semiconductor |
$SOX |
5,347.44 |
+231.18 |
+4.52% |
+28.07% |
| Networking |
$NWX |
819.26 |
+19.58 |
+2.45% |
-1.63% |
| Broker/Dealer |
$XBD |
628.21 |
+6.33 |
+1.02% |
+12.73% |
| Retail |
$RLX |
4,360.23 |
+42.96 |
+1.00% |
+12.12% |
| Gold & Silver |
$XAU |
140.83 |
+2.18 |
+1.57% |
+12.05% |
| Bank |
$BKX |
102.88 |
+0.20 |
+0.20% |
+7.14% |
| Biotech |
$BTK |
5,285.64 |
+98.56 |
+1.90% |
-2.46% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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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 |
TDG
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NYSE
TransDigm Group
Aerospace/Defense
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$1,362.30
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+21.47
1.60% |
$1,364.22
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172,288
86.14% of 50 DAV
50 DAV is 200,000
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$1,363.66
-0.10%
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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 - 6/3/2024 8:40:41 PM
G - Still hovering near its all-time high after a "negative reversal" on 5/28/24. It is extended from any sound base and its 50 DMA line ($1,264) defines near-term support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Aerospace/Defense Firm Hitting Another All-Time High - 5/21/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$335.50
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-3.10
-0.92% |
$340.86
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26,773
107.09% of 50 DAV
50 DAV is 25,000
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$378.78
-11.43%
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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 - 6/4/2024 7:28:01 PM
G - Fell slightly today for a 13th loss in the span of 14 sessions with volume below average. Its 50 DMA line ($325) defines important near-term support to watch. Fundamentals remain strong.
>>> 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 |
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C
A
S
I |
CLS
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NYSE
Celestica
Elec-Contract Mfg
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$56.37
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+3.66
6.94% |
$56.47
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2,479,888
107.35% of 50 DAV
50 DAV is 2,310,000
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$61.06
-7.68%
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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 - 6/5/2024 4:59:33 PM
G - Posted a solid gain today, rebounding above its "max buy" level and its color code is changed to green. Prior highs in the $51 area define initial support to watch above its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Steady Pullback to Below "Max Buy" Level Following Rally - 6/4/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
AROC
-
NYSE
Archrock
OilandGas-Machinery/Equip
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$19.15
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+0.41
2.19% |
$19.21
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1,252,623
83.40% of 50 DAV
50 DAV is 1,502,000
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$21.61
-11.38%
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5/20/2024
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$21.23
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PP = $21.50
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MB = $22.58
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Most Recent Note - 6/4/2024 6:35:11 PM
G - Fell further today with higher (average) volume while testing its 4/19/24 low. Color code was changed to green when violating its 50 DMA line ($20) and undercutting recent lows in the $19 area raising concerns and triggering technical sell signals. A rebound above the 50 DMA line is again needed to help its outlook improve. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Slump Below 50-Day Moving Average Again Hurts Outlook - 6/3/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
DECK
-
NYSE
Deckers Outdoor
Apparel-Shoes and Rel Mfg
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$1,093.26
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+26.43
2.48% |
$1,095.95
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228,700
61.98% of 50 DAV
50 DAV is 369,000
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$1,106.89
-1.23%
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5/24/2024
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$1,010.60
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PP = $956.27
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MB = $1,004.08
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Most Recent Note - 6/5/2024 5:01:04 PM
G - Posed a gain today with light volume, stubbornly holding its ground near its all-time high following noted volume-driven gains. Extended from prior highs in the $956 area that define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Big "Breakaway Gap" for Deckers Outdoor - 5/24/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
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 |
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Max Buy |
ELF
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NYSE
e.l.f. Beauty
Cosmetics/Personal Care
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$184.73
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-5.01
-2.64% |
$189.42
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1,433,585
84.43% of 50 DAV
50 DAV is 1,698,000
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$221.83
-16.72%
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5/24/2024
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$193.79
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PP = $182.73
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MB = $191.87
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Most Recent Note - 6/5/2024 5:02:05 PM
Y - Pulled back again today with below-average volume, quietly consolidating below its "max buy" level after breaking out a "double-bottom" base. Prior low ($177.99 pn 5/31/24) and 50 DMA line ($172) define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Down on Lighter Volume After Breakout From "Double Bottom" Base - 5/29/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
PDD
-
NASDAQ
PDD Holdings ADR
Retail-Internet
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$142.80
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-3.08
-2.11% |
$145.28
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10,517,998
112.08% of 50 DAV
50 DAV is 9,384,000
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$164.69
-13.29%
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5/24/2024
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$161.85
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PP = $153.09
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MB = $160.74
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Most Recent Note - 6/5/2024 12:33:07 PM
Y - Slumping further below prior highs with today's 4th consecutive loss raising concerns as it negated the breakout after rallying to new 52-week highs with 3 consecutive volume-driven gains clearing a 20-week base. Disciplined investors avoid big losses by selling any stock that falls more than 7-8% below their purchase price.
>>> FEATURED STOCK ARTICLE : Pulled Back Below Prior Highs Raising Concerns - 5/28/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
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$342.18
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+36.60
11.98% |
$342.59
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15,965,479
605.21% of 50 DAV
50 DAV is 2,638,000
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$365.00
-6.25%
|
5/28/2024
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$351.47
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PP = $365.10
|
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MB = $383.36
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Most Recent Note - 6/5/2024 12:23:40 PM
Y - Gapped up today rebounding above its 50 DMA line ($317) helping its technical stance and outlook improve and its color code is changed to yellow. Bullish action came after it reported Apr '24 quarterly earnings +63% on +33% sales revenues versus the year-ago period, continuing its strong earnings track record. Recent lows define important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Volume-Driven Loss Triggered Technical Sell Signal - 5/30/2024 |
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.
This report is a service available
only to active Paid Premium Members.
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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
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