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AFTER MARKET UPDATE - WEDNESDAY, JUNE 26TH, 2024
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DOW |
+15.64 |
39,127.80 |
+0.04% |
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Volume |
901,925,091 |
-9% |
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Volume |
5,340,982,800 |
+6% |
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NASDAQ |
+87.50 |
17,805.16 |
+0.49% |
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Advancers |
1,214 |
44% |
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Advancers |
1,951 |
46% |
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S&P 500 |
+8.60 |
5,477.90 |
+0.16% |
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Decliners |
1,523 |
56% |
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Decliners |
2,261 |
54% |
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Russell 2000 |
-4.23 |
2,018.12 |
-0.21% |
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52 Wk Highs |
45 |
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52 Wk Highs |
72 |
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S&P 600 |
-0.02 |
1,279.83 |
-0.00% |
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52 Wk Lows |
61 |
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52 Wk Lows |
188 |
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Major Indices Ended Slightly Higher
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+0.2%) and the Nasdaq Composite (+0.5%) closed at or near their highs of the day. The Dow Jones Industrial Average closed slightly higher but the Russell 2000 logged a -0.2% decline. Volume totals reported were mixed, lighter than the prior session on the NYSE and higher on the Nasdaq exchange. Breadth was negative as decliners led advancers by a 5-4 margin on the NYSE and a narrower margin on the Nasdaq exchange. There were 17 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 38 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. Remember that any uptrend requires healthy leadership.
 PICTURED: The S&P 500 Index is hovering near its all-time high.
Eight of the 11 S&P 500 sectors settled lower. The financial sector was among the worst performers, down -0.5%, while the consumer discretionary sector (+2.0%) led the pack. Apple (AAPL +2.00%), Amazon.com (AMZN +3.90%), and Tesla (TSLA +4.81%) were among the top performers from the mega cap space. FedEx (FDX +15.53%) rallied following better-than-expected earnings and an indication that demand is expected to improve through FY25. General Mills (GIS -4.59%) fell after a fiscal Q4 earnings report that included a revenue miss driven by lower prices and lower volumes.
The 10-yr note yield settled eight basis points higher at 4.32% and the 2-yr note yield rose two basis points to 4.32%. There was solid demand for a fresh $70 billion 5-yr note sale. There latest economic data included a below-consensus New Home Sales report for May.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail Index Posted Standout Gain
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +2.67%) posted a solid gain while the Bank Index ($BKX -0.32%) and the Broker/Dealer Index ($XBD -0.18%) both finished slightly lower. The Semiconductor Index ($SOX -0.28%) and the Biotech Index ($BTK -0.39%) both edged lower while the Networking Index ($NWX +0.00%) was unchanged. The Integrated Oil Index ($XOI -0.83%) and the Oil Services Index ($OSX -0.54%) both edged lower while the Gold & Silver Index ($XAU +0.26%) eked out a small gain.
PICTURED: The Broker/Dealer Index ($XBD -0.18%) is consolidating above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
83.99 |
-0.45 |
-0.54% |
+0.13% |
| Integrated Oil |
$XOI |
2,026.83 |
-16.94 |
-0.83% |
+8.82% |
| Semiconductor |
$SOX |
5,452.32 |
-15.34 |
-0.28% |
+30.58% |
| Networking |
$NWX |
796.79 |
+0.02 |
+0.00% |
-4.33% |
| Broker/Dealer |
$XBD |
625.35 |
-1.15 |
-0.18% |
+12.21% |
| Retail |
$RLX |
4,582.03 |
+119.34 |
+2.67% |
+17.83% |
| Gold & Silver |
$XAU |
137.04 |
+0.36 |
+0.26% |
+9.03% |
| Bank |
$BKX |
102.02 |
-0.33 |
-0.32% |
+6.25% |
| Biotech |
$BTK |
5,340.85 |
-21.15 |
-0.39% |
-1.44% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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
Aerospace/Defense | $1,300.83 | -19.53
-1.48% | $1,315.37 | 234,769
107.69% of 50 DAV
50 DAV is 218,000 | $1,369.58
-5.02%
| 4/12/2024 | $1,224.21 | PP = $1,246.32 | | MB = $1,308.64 |  Most Recent Note - 6/26/2024 5:33:02 PM
G - Testing its 50 DMA line ($1,295) and recent lows which define important near-term support to watch. More damaging losses would raise greater concerns. 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 | Request a new note C A S I | USLM - NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag | $359.46 | +3.67
1.03% | $361.52 | 12,787
51.15% of 50 DAV
50 DAV is 25,000 | $378.78
-5.10%
| 6/18/2024 | $356.30 | PP = $378.88 | | MB = $397.82 | Most Recent Note - 6/26/2024 5:33:58 PM
Y - Volume totals have been cooling while consolidating above its 50 DMA line. 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 | SEC News | Chart | Request a new note C A S I | CLS - NYSE
Celestica
Elec-Contract Mfg | $55.30 | -0.51
-0.91% | $56.83 | 1,435,341
59.02% of 50 DAV
50 DAV is 2,432,000 | $61.06
-9.43%
| 5/15/2024 | $51.52 | PP = $51.22 | | MB = $53.78 | Most Recent Note - 6/25/2024 6:09:06 PM
G - Posted a big gain today with below-average volume. It has not formed a sound base of sufficient length. Important support is at prior highs in the $51 area and its 50 DMA line ($50.70).
>>> 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 | DECK - NYSE
Deckers Outdoor
Apparel-Shoes and Rel Mfg | $981.26 | +5.94
0.61% | $992.32 | 291,719
84.31% of 50 DAV
50 DAV is 346,000 | $1,106.89
-11.35%
| 5/24/2024 | $1,010.60 | PP = $956.27 | | MB = $1,004.08 | Most Recent Note - 6/26/2024 5:29:53 PM
G - Paused today after 10 consecutive losses. 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 | $204.59 | -4.17
-2.00% | $213.48 | 1,269,000
81.35% of 50 DAV
50 DAV is 1,560,000 | $221.83
-7.77%
| 6/18/2024 | $212.40 | PP = $221.93 | | MB = $233.03 | Most Recent Note - 6/25/2024 6:07:21 PM
Y - Posted a gain today with below-average volume. 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 ($177) defines important near-term support to watch.
>>> 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 | 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 | PDD - NASDAQ
PDD Holdings ADR
Retail-Internet | $138.23 | -1.77
-1.26% | $140.20 | 9,278,315
97.31% of 50 DAV
50 DAV is 9,535,000 | $164.69
-16.07%
| 5/24/2024 | $161.85 | PP = $153.09 | | MB = $160.74 | 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 | SEC News | Chart | Request a new note C A S I | CRWD - NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security | $380.37 | -6.39
-1.65% | $387.51 | 2,794,245
57.79% of 50 DAV
50 DAV is 4,835,000 | $394.64
-3.62%
| 5/28/2024 | $351.47 | PP = $365.10 | | MB = $383.36 | Most Recent Note - 6/25/2024 6:10:28 PM
Y - Posted a gain today with lighter volume after 3 volume-driven losses, consolidating below its "max buy" level. Its 50 DMA line ($333) 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 : Encountered Distributional Pressure Hovering Near All-Time High - 6/21/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | NVO - NYSE
Novo Nordisk ADR
Medical-Ethical Drugs | $143.67 | -3.24
-2.21% | $145.62 | 4,358,933
116.18% of 50 DAV
50 DAV is 3,752,000 | $148.15
-3.02%
| 6/7/2024 | $143.06 | PP = $138.38 | | MB = $145.30 | Most Recent Note - 6/26/2024 12:14:01 PM
G - Gapped down today, pulling back from its all-time high after a gap up on the prior session capped a streak of 5 consecutive gains. Color code is changed to yellow after retreating below its "max buy" level. 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 | Request a new note C A S I | GVA - NYSE
Granite Construction
Bldg-Heavy Construction | $61.64 | -1.04
-1.66% | $62.41 | 341,154
74.00% of 50 DAV
50 DAV is 461,000 | $65.08
-5.29%
| 6/11/2024 | $59.76 | PP = $64.33 | | MB = $67.55 | Most Recent Note - 6/26/2024 5:31:15 PM
Y - Volume totals have been cooling while hovering near its 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 | Request a new note C A S I |
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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***
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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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