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AFTER MARKET UPDATE - WEDNESDAY, JUNE 22ND, 2016
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DOW |
-48.90 |
17,780.83 |
-0.27% |
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Volume |
803,668,910 |
-3% |
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Volume |
1,536,853,580 |
-1% |
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NASDAQ |
-10.44 |
4,833.32 |
-0.22% |
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Advancers |
1,222 |
41% |
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Advancers |
1,214 |
41% |
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S&P 500 |
-3.45 |
2,085.45 |
-0.17% |
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Decliners |
1,752 |
59% |
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Decliners |
1,731 |
59% |
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Russell 2000 |
-4.90 |
1,148.97 |
-0.42% |
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52 Wk Highs |
116 |
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52 Wk Highs |
62 |
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S&P 600 |
-3.17 |
705.11 |
-0.45% |
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52 Wk Lows |
14 |
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52 Wk Lows |
47 |
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Major Indices Ended Slightly Lower With Lighter Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Wednesday. The Dow was down 48 points to 17780. The S&P 500 lost 3 points to 2085 and the Nasdaq Composite fell 10 points to 4833. The volume totals were lighter on the NYSE and on the Nasdaq exchange. Decliners led advancers by a 3-2 margin on the NYSE and on the Nasdaq exchange. There were 30 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 24 on the prior session. New 52-highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. PICTURED: The S&P 500 Index is consolidating above its 50-day moving average (DMA) line after meeting resistance near prior highs.
With gains on Monday the S&P 500 Index and Dow Jones Industrial Average both managed to claw above their 50 DMA lines, respectively. The market's confirmed uptrend (M criteria) endured pressure, however, leadership recently improved and new stocks were listed on the Featured Stocks Page as noteworthy buy candidates. The major averages fluctuated in choppy trading as investors positioned ahead of tomorrow’s U.K. “Brexit” referendum. In Fed news, Janet Yellen concluded two days of testimony to lawmakers, maintaining a cautious approach to interest-rate policy and a mixed view of the economy. On the data front, existing home sales rose 1.8% in May, to the highest level since February 2007. In M&A news, SolarCity (SCTY +3.26%) received a $2.8 billion takeover offer from automaker Tesla (TSLA -10.45%). Seven of 10 sectors in the S&P 500 finished in negative territory. Energy and Utilities were the worst performing groups while Health Care stocks advanced. In earnings, Adobe (ADBE -5.73%) fell as the software tools maker gave a weaker-than-expected quarterly forecast. FedEx (FDX -4.54%) fell after posting a quarterly loss due to pension adjustments. KB Home (KBH +2.20%) was a notable gainer. Treasuries were higher along the curve with the benchmark 10-year note up 6/32 to yield 1.68%. In commodities, NYMEX WTI crude lost 1.4% to $49.14/barrel. COMEX gold was off 0.2% to $1268.00/ounce. In FOREX, the British pound gained against the dollar. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver Index and Biotech Group Posted Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.18%) and the Bank Index ($BKX -0.21%) were mixed on Wednesday, and the Retail Index ($RLX -0.18%) also edged lower. The Biotechnology Index ($BTK +0.68%) posted a small gain while the Networking Index ($NWX -0.24%) and the Semiconductor Index ($SOX -0.16%) both edged lower. The Gold & Silver Index ($XAU +1.83%) rose and the Oil Services Index ($OSX +0.09%) finished flat while the Integrated Oil Index ($XOI -0.61%) fell. Charts courtesy www.stockcharts.com
PICTURED: The Biotechnology Index ($BTK +0.68%) met resistance at its 200-day moving average (DMA) line and slumped below its 50 DMA line.
| Oil Services |
$OSX |
171.06 |
+0.16 |
+0.09% |
+8.45% |
| Integrated Oil |
$XOI |
1,136.72 |
-6.96 |
-0.61% |
+5.97% |
| Semiconductor |
$SOX |
698.25 |
-1.15 |
-0.16% |
+5.24% |
| Networking |
$NWX |
369.82 |
-0.89 |
-0.24% |
-1.62% |
| Broker/Dealer |
$XBD |
157.83 |
+0.28 |
+0.18% |
-11.38% |
| Retail |
$RLX |
1,280.29 |
-2.34 |
-0.18% |
-0.25% |
| Gold & Silver |
$XAU |
90.89 |
+1.64 |
+1.84% |
+100.64% |
| Bank |
$BKX |
66.56 |
-0.14 |
-0.21% |
-8.92% |
| Biotech |
$BTK |
3,021.52 |
+20.35 |
+0.68% |
-20.78% |
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Wait Continues for Technical Breakout
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Fortune Brands Home & Security Inc (FBHS -$0.41 or -0.71% to $57.16) encountered distributional pressure today after highlighted in yellow with pivot point cited based on its 4/21/16 high plus 10 cents. Disciplined investors will observe that it was noted - "It needs subsequent volume-driven gains above the pivot point to trigger a technical buy signal.
The high-ranked Building - Construction Products firm has shown encouraging earnings acceleration in sequential quarters, up +16%, +23%, +27% and +39% in the Jun, Sep, Dec '15 and Mar '16 quarters, respectively. The larger than +25% increases (C criteria) help it better match with the fact-based investment system's fundamental guidelines. The number of top-rated funds owning its shares rise from 659 in Jun '15 to 844 in Mar '16, a reassuring sign concerning the I criteria. Patient investors will watch for fresh signs of meaningful new institutional buying demand driving the stock into new high territory (N criteria). Without that bullish "breakout" action, investors have less reasons to expect a considerable and sustained advance in the weeks and months ahead.
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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
-
NYSE
Transdigm Group Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services
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$261.87
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-0.87
-0.33% |
$263.83
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493,022
57.87% of 50 DAV
50 DAV is 852,000
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$268.00
-2.29%
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5/11/2016
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$248.33
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PP = $245.00
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MB = $257.25
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Most Recent Note - 6/21/2016 4:50:23 PM
G - Color code is changed to green after trading back above its "max buy" level. Prior highs and its 50 DMA line define near-term support in the $242-244 area.
>>> FEATURED STOCK ARTICLE : Getting Extended From Prior Base After More Volume-Driven Gains - 6/1/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
MXL
-
NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure
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$19.10
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-0.03
-0.16% |
$19.54
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486,818
39.29% of 50 DAV
50 DAV is 1,239,000
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$20.98
-8.95%
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5/16/2016
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$19.24
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PP = $19.20
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MB = $20.16
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Most Recent Note - 6/21/2016 4:49:19 PM
Y - Volume totals have been cooling while quietly consolidating. Prior highs in the $19 area define support to watch above its 50 DMA line ($18.64).
>>> FEATURED STOCK ARTICLE : Extended From Latest Base After Recently Wedging Higher - 6/2/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$56.14
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+0.43
0.77% |
$56.84
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121,808
92.98% of 50 DAV
50 DAV is 131,000
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$56.34
-0.35%
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5/24/2016
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$53.45
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PP = $50.68
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MB = $53.21
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Most Recent Note - 6/20/2016 4:00:40 PM
G - Touched another new 52-week high today. Prior highs define near term support in the $50 area, above its 50 DMA line ($49.69).
>>> FEATURED STOCK ARTICLE : Extended From Base After Another Volume-Driven Gain - 6/16/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
FBHS
-
NYSE
Fortune Brands Hme & Sec
Bldg-Constr Prds/Misc
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$57.16
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-0.41
-0.71% |
$57.92
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2,976,153
297.02% of 50 DAV
50 DAV is 1,002,000
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$59.98
-4.70%
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6/22/2016
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$57.71
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PP = $60.08
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MB = $63.08
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Most Recent Note - 6/22/2016 5:19:18 PM
Y - Encountered distributional pressure today after highlighted in yellow with pivot point cited based on its 4/21/16 high plus 10 cents. It needs subsequent volume-driven gains above the pivot point to trigger a technical buy signal. Strong earnings increases through the Mar '16 quarter helped it better match with the fact-based investment system's fundamental guidelines. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Wait Continues for Technical Breakout - 6/22/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NVEE
-
NASDAQ
N V 5 Global Inc
Comml Svcs-Consulting
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$26.83
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-1.29
-4.59% |
$27.93
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84,553
75.49% of 50 DAV
50 DAV is 112,000
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$30.21
-11.19%
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4/19/2016
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$28.20
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PP = $28.10
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MB = $29.51
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Most Recent Note - 6/22/2016 5:16:40 PM
G - Color code is changed to green after again slumping below its 50 DMA line ($27.04) raising concerns. Recent lows define the next important support to watch.
>>> FEATURED STOCK ARTICLE : Consolidating Near Highs After Completing New Public Offering - 5/31/2016 |
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 |
|
Max Buy |
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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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