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AFTER MARKET UPDATE - FRIDAY, JUNE 14TH, 2024
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DOW |
-57.94 |
38,589.16 |
-0.15% |
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Volume |
835,704,747 |
-1% |
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Volume |
5,114,647,600 |
+4% |
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NASDAQ |
+21.32 |
17,688.88 |
+0.12% |
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Advancers |
731 |
26% |
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Advancers |
1,230 |
29% |
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S&P 500 |
-2.14 |
5,431.60 |
-0.04% |
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Decliners |
2,030 |
73% |
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Decliners |
3,010 |
71% |
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Russell 2000 |
-32.75 |
2,006.16 |
-1.61% |
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52 Wk Highs |
38 |
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52 Wk Highs |
62 |
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S&P 600 |
-20.46 |
1,272.44 |
-1.58% |
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52 Wk Lows |
94 |
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52 Wk Lows |
212 |
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Major Indices Ended Little Changed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The three major indices closed little changed on Friday. Volume totals reported were mixed, lighter than the prior session on the NYSE and higher on the Nasdaq exchange. Market breadth was negative as decliners led advancers by almost a 3-1 margin on the NYSE and by a 5-2 margin on the Nasdaq exchange. Leadership thinned as there were 13 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 24 on the prior session. New 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria) that recently endured some pressure. It was encouraging to see recent improvement in the new highs totals with the market showing some broad-based strength and resilience. Remember that any uptrend requires healthy leadership.
PICTURED: The Nasdaq Composite Index is perched at its all-time high following 5 consecutive gains.
The preliminary reading for the June University of Michigan Index of Consumer Sentiment showed an unexpected drop in consumer sentiment (actual 65.5; expected 73.0; prior 69.1) and a rise in long-run inflation expectations to 3.1% from 3.0%. The 2-yr note yield settled unchanged at 4.69% and the 10-yr note yield fell two basis points to 4.22%.
NVIDIA (NVDA +1.8%), Alphabet (GOOG +0.9%), Microsoft (MSFT +0.2%), Meta Platforms (META +0.1%), and Broadcom (AVGO +3.3%) continued their winning ways in the mega cap space. The top performing stock in the S&P 500 was Adobe (ADBE +14.5%), rallying after strong earnings results and guidance.
The information technology (+0.5%), and communication services (+0.6%) sectors were the top performers. Three S&P 500 sectors rose while the eight sectors closed with losses ranging from -0.1% (health care) to -1.0% (industrials).
Political uncertainty stirred around the French election, giving rise to speculation about an EU exit move if France's left-wing bloc wins.
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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, Retail, and Financial Indexes Ended Lower
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -1.16%) and the Bank Index ($BKX -0.53%) both lost ground along with the Retail Index ($RLX -0.83%). The Semiconductor Index ($SOX -0.07%) was little changed while both the Networking Index ($NWX -1.23%) and the Biotech Index ($BTK -1.15%) lost ground. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU +0.67%) edged higher but the Oil Services Index ($OSX -2.74%) and the Integrated Oil Index ($XOI -0.85%) both edged lower.
![]() PICTURED: The Semiconductor Index ($SOX -0.07%) is consolidating near its all-time high.
| Oil Services |
$OSX |
79.39 |
-2.24 |
-2.74% |
-5.36% |
| Integrated Oil |
$XOI |
1,960.60 |
-16.76 |
-0.85% |
+5.27% |
| Semiconductor |
$SOX |
5,598.31 |
-4.11 |
-0.07% |
+34.08% |
| Networking |
$NWX |
806.96 |
-10.01 |
-1.23% |
-3.10% |
| Broker/Dealer |
$XBD |
617.89 |
-2.33 |
-0.38% |
+10.87% |
| Retail |
$RLX |
4,430.44 |
-9.76 |
-0.22% |
+13.93% |
| Gold & Silver |
$XAU |
135.01 |
+0.90 |
+0.67% |
+7.41% |
| Bank |
$BKX |
100.31 |
-0.63 |
-0.63% |
+4.47% |
| Biotech |
$BTK |
5,193.23 |
-60.55 |
-1.15% |
-4.16% |
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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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$1,294.76
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-28.89
-2.18% |
$1,310.00
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194,153
92.90% of 50 DAV
50 DAV is 209,000
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$1,369.58
-5.46%
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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 - 6/12/2024 5:29:08 PM
G - Color code is changed to green after rising back above its "max buy" level. Its 50 DMA line ($1,278) defines near-term support to watch. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Transdigm Consolidating Above 50-Day Moving Average - 6/12/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$342.31
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+5.80
1.72% |
$342.47
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18,697
74.79% of 50 DAV
50 DAV is 25,000
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$378.78
-9.63%
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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 - 6/12/2024 5:31:04 PM
G - Gapped up today for a solid gain with average volume, finding prompt support near its 50 DMA line ($329). It has not formed a sound base. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Streak of Losses Testing 50-Day Moving Average Line - 6/6/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$55.71
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-1.06
-1.87% |
$56.58
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1,714,604
71.59% of 50 DAV
50 DAV is 2,395,000
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$61.06
-8.76%
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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 - 6/14/2024 12:58:08 PM
G - Pulling back today after 2 consecutive gains. Prior highs in the $51 area define initial support to watch above its 50 DMA line ($49.60).
>>> FEATURED STOCK ARTICLE : Steady Pullback to Below "Max Buy" Level Following Rally - 6/4/2024 |
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Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
DECK
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NYSE
Deckers Outdoor
Apparel-Shoes and Rel Mfg
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$1,023.75
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-6.41
-0.62% |
$1,032.22
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201,365
55.93% of 50 DAV
50 DAV is 360,000
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$1,106.89
-7.51%
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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 - 6/13/2024 4:36:56 PM
G - Consolidating near its all-time high, extended from the prior base. Prior highs in the $956 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Deckers Consolidating Near High - 6/13/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
ELF
-
NYSE
e.l.f. Beauty
Cosmetics/Personal Care
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$192.63
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-7.81
-3.90% |
$200.57
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814,300
49.74% of 50 DAV
50 DAV is 1,637,000
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$221.83
-13.16%
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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 - 6/14/2024 12:56:56 PM
G - Pulling back today after 4 consecutive gains rebounding above its "max buy" level near prior highs. Its 50 DMA line ($172.44) defines 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 |
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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 |
PDD
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NASDAQ
PDD Holdings ADR
Retail-Internet
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$148.98
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-2.09
-1.38% |
$150.53
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8,579,825
91.90% of 50 DAV
50 DAV is 9,336,000
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$164.69
-9.54%
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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 - 6/11/2024 5:42:50 PM
Y - Pulled back today with near average volume following 3 gains with below average volume. Raised concerns recently as it negated the breakout after 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 |
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C
A
S
I |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
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$385.44
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+2.63
0.69% |
$388.35
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3,409,872
97.65% of 50 DAV
50 DAV is 3,492,000
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$390.71
-1.35%
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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 - 6/13/2024 4:35:53 PM
Y - Color code is changed to yellow after pulling back just below its "max buy" level today with near average volume following 4 consecutive volume-driven gains for new all-time highs. Its 50 DMA line ($323) defines near-term support to watch. 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.
>>> FEATURED STOCK ARTICLE : Volume-Driven Loss Triggered Technical Sell Signal - 5/30/2024 |
View all notes |
Set NEW NOTE alert |
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News |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
|
$142.50
|
+0.01
0.01% |
$143.18
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2,828,667
75.47% of 50 DAV
50 DAV is 3,748,000
|
$144.50
-1.38%
|
6/7/2024
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$143.06
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PP = $138.38
|
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MB = $145.30
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Most Recent Note - 6/11/2024 12:20:46 PM
Y - Pausing today after 8 consecutive gains while wedging to new all-time highs. Color code was changed to yellow with pivot point cited based on its 3/07/24 high. To clinch a proper technical buy signal gains above the pivot point must be backed by at least +40% above-average volume. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Wedging Into New High Ground - 6/7/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
|
$62.29
|
-0.31
-0.50% |
$62.60
|
518,820
120.38% of 50 DAV
50 DAV is 431,000
|
$64.33
-3.17%
|
6/11/2024
|
$59.76
|
PP = $64.33
|
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MB = $67.55
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Most Recent Note - 6/12/2024 5:34:03 PM
Y - Gapped up today for a 3rd consecutive volume-driven gain. Color code was changed to yellow when highlighted on the earlier mid-day report as it was noted that a valid secondary buy point exists up to +5% above the recent high after finding support at its 10 WMA line following a prior breakout. Reported improved earnings in the Jun, Sep, Dec '23, and Mar '24 quarters versus the year ago periods. Annual earnings growth has been strong and steady. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Granite Construction Found Support at 10-Week Moving Average - 6/11/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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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