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AFTER MARKET UPDATE - MONDAY, JUNE 24TH, 2024
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DOW |
+260.88 |
39,411.21 |
+0.67% |
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Volume |
991,597,182 |
-72% |
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Volume |
5,641,052,100 |
-37% |
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NASDAQ |
-192.54 |
17,496.82 |
-1.09% |
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Advancers |
1,876 |
68% |
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Advancers |
2,331 |
55% |
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S&P 500 |
-16.75 |
5,447.87 |
-0.31% |
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Decliners |
863 |
31% |
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Decliners |
1,930 |
45% |
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Russell 2000 |
+8.78 |
2,030.81 |
+0.43% |
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52 Wk Highs |
85 |
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52 Wk Highs |
74 |
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S&P 600 |
+8.48 |
1,290.85 |
+0.66% |
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52 Wk Lows |
25 |
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52 Wk Lows |
143 |
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Major Indices Were Mixed as Some Mega Cap Tech Leaders Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (-0.3%) and the Nasdaq Composite (-1.1%) both lost ground and closed at their lows of the session, meanwhile, the Dow Jones Industrial Average logged a 0.7% gain and the Russell 2000 closed 0.4% higher. Volume totals reported were lighter than the prior session on the NYSE and on the Nasdaq exchange, down from Friday's totals which were inflated by options expirations. Advancers narrowly led decliners on the NYSE and on the Nasdaq exchange. 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 20 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 S&P 500 Index is pulling back from its all-time high.
A solid loss in NVIDIA (NVDA -6.58%) weighed on the major indices. Super Micro Computer (SMCI -8.66%) and Qualcomm (QCOM -5.50%) were also among the influential laggards. Amazon.com (AMZN -1.88%) and Broadcom (AVGO -4.00%) both edged lower.
Energy-related names and bank stocks were among the top performers boosting the S&P 500 energy (+2.7%) and financial (+1.0%) sectors. WTI crude oil futures settled +1.2% higher at $81.63/bbl and natural gas futures settled +3.7% higher at $2.81/mmbtu.
The 10-yr note yield settled one basis points lower at 4.25% and the 2-yr note yield settled unchanged at 4.73%. Tuesday's calendar includes the June Consumer Confidence report. The U.S. Treasury will hold a fresh $69 billion 2-yr Treasury note offering.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Semiconductor, Networking, and Retail Indexes Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -1.39%) lost ground while the Broker/Dealer Index ($XBD +0.71%) and the Bank Index ($BKX +1.65%) both finished higher on Monday. The tech sector was mixed as the Semiconductor Index ($SOX -3.02%) and the Networking Index ($NWX -1.75%) both lost ground while the Biotech Index ($BTK +2.38%) posted a solid gain. The Integrated Oil Index ($XOI +2.38%) and the Oil Services Index ($OSX +2.73%) both posted solid gains while the Gold & Silver Index ($XAU +0.40%) posted a smaller gain.
PICTURED: The Oil Services Index ($OSX +2.73%) is rebounding toward its 200-day and 50-day moving average (DMA) lines.
| Oil Services |
$OSX |
84.37 |
+2.24 |
+2.73% |
+0.59% |
| Integrated Oil |
$XOI |
2,040.16 |
+47.41 |
+2.38% |
+9.54% |
| Semiconductor |
$SOX |
5,371.52 |
-167.02 |
-3.02% |
+28.64% |
| Networking |
$NWX |
798.05 |
-14.24 |
-1.75% |
-4.17% |
| Broker/Dealer |
$XBD |
626.52 |
+4.41 |
+0.71% |
+12.42% |
| Retail |
$RLX |
4,494.84 |
-63.55 |
-1.39% |
+15.59% |
| Gold & Silver |
$XAU |
138.21 |
+0.55 |
+0.40% |
+9.96% |
| Bank |
$BKX |
103.60 |
+1.68 |
+1.65% |
+7.90% |
| Biotech |
$BTK |
5,373.47 |
+124.82 |
+2.38% |
-0.84% |
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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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$1,328.05
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+6.96
0.53% |
$1,333.22
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262,006
121.30% of 50 DAV
50 DAV is 216,000
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$1,369.58
-3.03%
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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 - 6/21/2024 3:45:13 PM
G - Still quietly consolidating above its "max buy" level. Its 50 DMA line ($1,290) defines near-term support to watch above recent lows in the $1,280 area. Fundamentals remain strong.
>>> 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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$357.45
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+3.26
0.92% |
$364.25
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35,473
141.89% of 50 DAV
50 DAV is 25,000
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$378.78
-5.63%
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6/18/2024
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$356.30
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PP = $378.88
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MB = $397.82
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Most Recent Note - 6/20/2024 5:05:55 PM
Y - There was a "negative reversal" for a loss today following 3 consecutive gains with increasing volume. Color code was changed to yellow with new pivot point cited based on its 5/15/24 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new technical buy signal. Recently found prompt support near its 50 DMA line ($334.61). 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 |
Chart |
Request a new note
C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$53.38
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-2.53
-4.53% |
$55.49
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1,883,920
78.27% of 50 DAV
50 DAV is 2,407,000
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$61.06
-12.58%
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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 - 6/24/2024 5:33:46 PM
G - Suffered a big loss today with lighter volume. It has not formed a sound base of sufficient length yet found support near prior highs in the $51 area. Its 50 DMA line ($50.48) defines additional near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Steady Pullback to Below "Max Buy" Level Following Rally - 6/4/2024 |
View all notes |
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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$978.08
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-2.06
-0.21% |
$991.39
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269,244
76.71% of 50 DAV
50 DAV is 351,000
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$1,106.89
-11.64%
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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 - 6/20/2024 5:23:48 PM
G - Suffered a 7th consecutive loss with average volume today. Prior highs in the $956 area define initial support to watch.
>>> FEATURED STOCK ARTICLE : Deckers Consolidating Near High - 6/13/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
ELF
-
NYSE
e.l.f. Beauty
Cosmetics/Personal Care
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$204.19
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-1.72
-0.84% |
$215.94
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1,333,843
85.39% of 50 DAV
50 DAV is 1,562,000
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$221.83
-7.95%
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6/18/2024
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$212.40
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PP = $221.93
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MB = $233.03
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Most Recent Note - 6/20/2024 5:29:48 PM
Y - Paused today after rallying toward its all-time high. Color code was changed to yellow with new pivot point cited based on its 3/04/24 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal. Its 50 DMA line ($174) defines important near-term support to watch. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Within Striking Distance of All-Time High - 6/20/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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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$141.53
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-2.33
-1.62% |
$144.96
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5,083,966
53.16% of 50 DAV
50 DAV is 9,564,000
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$164.69
-14.06%
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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 - 6/24/2024 5:34:41 PM
Y - Pulled back today for a 6th consecutive small loss 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. Its 50 DMA line ($138.32) defines important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Still Sputtering Below Pivot Point After Negating Breakout - 6/17/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
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$377.93
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-2.70
-0.71% |
$381.76
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5,288,559
111.48% of 50 DAV
50 DAV is 4,744,000
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$394.64
-4.23%
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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 - 6/21/2024 4:46:45 PM
Y - Encountered distributional pressure and it is consolidating below its "max buy" level. Its 50 DMA line ($330) 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. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure Hovering Near All-Time High - 6/21/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
|
$142.28
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+0.32
0.23% |
$142.66
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2,565,681
69.70% of 50 DAV
50 DAV is 3,681,000
|
$144.50
-1.54%
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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 - 6/21/2024 3:42:23 PM
Y - Volume totals have been cooling while holding its ground after wedging to new all-time highs with gains lacking great volume conviction. 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
|
$62.10
|
-0.37
-0.59% |
$63.62
|
393,213
85.85% of 50 DAV
50 DAV is 458,000
|
$65.08
-4.58%
|
6/11/2024
|
$59.76
|
PP = $64.33
|
|
MB = $67.55
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Most Recent Note - 6/20/2024 12:00:46 PM
Y - Reversed into the red quickly today after a gap up gain hitting a new 52-week high. Color code was changed to yellow when highlighted on the 6/11/24 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.
>>> 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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