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AFTER MARKET UPDATE - THURSDAY, JUNE 27TH, 2024
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DOW |
+36.26 |
39,164.06 |
+0.09% |
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Volume |
948,633,532 |
+5% |
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Volume |
5,471,351,700 |
+2% |
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NASDAQ |
+53.53 |
17,858.68 |
+0.30% |
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Advancers |
1,679 |
60% |
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Advancers |
2,663 |
63% |
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S&P 500 |
+4.97 |
5,482.87 |
+0.09% |
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Decliners |
1,101 |
40% |
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Decliners |
1,562 |
37% |
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Russell 2000 |
+20.22 |
2,038.34 |
+1.00% |
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52 Wk Highs |
74 |
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52 Wk Highs |
72 |
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S&P 600 |
+5.27 |
1,285.10 |
+0.41% |
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52 Wk Lows |
42 |
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52 Wk Lows |
128 |
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Leadership Improved as Major Indices Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+0.1%), Dow Jones Industrial Average (+0.1%), and Nasdaq Composite (+0.3%) each ended slightly higher. The Russell 2000 Index outperformed, rising +1.0%. Volume totals reported were higher than the prior session on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by 4-3 margin on the NYSE and by a 5-3 margin on the Nasdaq exchange. There were 31 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 17 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs 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 Nasdaq Composite Index is hovering near its all-time high.
The latest economic news included an upward revision to Q1 GDP, the highest level of continuing jobless claims since November 2021, and better-than-expected durable orders growth for May. The May Personal Income and Spending report is due Friday at 8:30 ET. It features the Fed's preferred inflation gauges in the form PCE and core-PCE price indexes.
The Fed's stress test showed that the 31 large banks subject to the test this year have sufficient capital. However, the S&P 500 financial sector fell -0.3% even as the SPDR S&P Bank ETF (KBE) closed +1.0% higher and the SPDR S&P Regional Banking ETF (KRE) showed a +1.1% gain. There was strong demand for the latest $44 billion 7-yr note sale. The 10-yr note yield settled at 4.29%, three basis points lower. The 2-yr note yield settled at 4.72%.
Amazon.com (AMZN +2.19%) moved further into record territory after reaching the $2 trillion market cap threshold. Micron (MU -7.12%) fell following its earnings report. NVIDIA (NVDA -1.91%) also lost ground.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Networking, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.42%) posted a solid gain while the Bank Index ($BKX +0.11%) and the Broker/Dealer Index ($XBD +0.15%) both inched higher. The Semiconductor Index ($SOX -0.57%) and the Biotech Index ($BTK -0.37%) both edged lower while the Networking Index ($NWX +1.31%) posted a solid gain. The Integrated Oil Index ($XOI +0.37%),Oil Services Index ($OSX +0.89%), and the Gold & Silver Index ($XAU +0.73%) each posted a modest gain.
PICTURED: The Semiconductor Index ($SOX -0.57%) is consolidating well above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
84.73 |
+0.75 |
+0.89% |
+1.02% |
| Integrated Oil |
$XOI |
2,034.24 |
+7.41 |
+0.37% |
+9.22% |
| Semiconductor |
$SOX |
5,421.09 |
-31.23 |
-0.57% |
+29.83% |
| Networking |
$NWX |
807.24 |
+10.45 |
+1.31% |
-3.07% |
| Broker/Dealer |
$XBD |
626.30 |
+0.96 |
+0.15% |
+12.38% |
| Retail |
$RLX |
4,647.13 |
+65.10 |
+1.42% |
+19.50% |
| Gold & Silver |
$XAU |
138.04 |
+1.00 |
+0.73% |
+9.83% |
| Bank |
$BKX |
102.13 |
+0.11 |
+0.11% |
+6.36% |
| Biotech |
$BTK |
5,321.12 |
-19.72 |
-0.37% |
-1.80% |
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Consolidating Above Prior Highs in an Orderly Fashion
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Celestica (CLS +$1.90 or +3.44% to $57.20) is consolidating above its 50-day moving average (DMA) line and perched within striking distance of its all-time high. Prior highs and its 50 DMA line define near-term support to watch in the $51 area define near-term support to watch. CLS was highlighted in yellow in the 5/15/24 mid-day report (read here) with pivot point cited based on its 4/04/24 high plus 10 cents after a 6-week flat base. It was last shown in detail in this FSU section on 6/04/24 with an annotated graph under the headline, "Steady Pullback to Below "Max Buy" Level Following Rally".
CLS hails from the high ranked Elec-Contract Mfg group which is now ranked 14th on the 197 Industry Groups List (L criteria). CLS recently reported earnings +83% on +20% sales revenues for the Mar '24 quarter versus the year ago period, and 7 of the last 8 quarterly comparisons were at or above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history has been strong since bottoming in FY '19. It has a highest possible 99 Earnings Per Share Rating.
There are only 119 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 322 in Jun '23 to 520 in Mar '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.6 is an unbiased indication its shares have been under accumulation over the past 50 days.
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 | $1,288.65 | -12.18
-0.94% | $1,303.00 | 321,841
146.96% of 50 DAV
50 DAV is 219,000 | $1,369.58
-5.91%
| 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 | $360.79 | +1.33
0.37% | $365.80 | 10,678
44.49% of 50 DAV
50 DAV is 24,000 | $378.78
-4.75%
| 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 | $57.20 | +1.90
3.44% | $57.25 | 1,522,992
62.26% of 50 DAV
50 DAV is 2,446,000 | $61.06
-6.32%
| 5/15/2024 | $51.52 | PP = $51.22 | | MB = $53.78 |  Most Recent Note - 6/27/2024 6:00:11 PM
G - Consolidating in an orderly fashion but 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. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Above Prior Highs in an Orderly Fashion - 6/27/2024 | 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 | $999.91 | +18.65
1.90% | $1,003.04 | 327,517
95.77% of 50 DAV
50 DAV is 342,000 | $1,106.89
-9.66%
| 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 | $218.00 | +13.41
6.55% | $218.50 | 1,424,454
91.14% of 50 DAV
50 DAV is 1,563,000 | $221.83
-1.73%
| 6/18/2024 | $212.40 | PP = $221.93 | | MB = $233.03 | Most Recent Note - 6/27/2024 6:01:33 PM
Y - Posted a big gain today with near average volume for a best-ever close. 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 ($179) 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 | $131.94 | -6.29
-4.55% | $136.35 | 10,608,626
109.83% of 50 DAV
50 DAV is 9,659,000 | $164.69
-19.89%
| 5/24/2024 | $161.85 | PP = $153.09 | | MB = $160.74 | Most Recent Note - 6/27/2024 6:03:40 PM
G - Color code is changed to green after slumping well below its 50 DMA line ($139.66) with today''s 9th consecutive loss. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> 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 | $387.29 | +6.92
1.82% | $391.54 | 3,294,382
68.02% of 50 DAV
50 DAV is 4,843,000 | $394.64
-1.86%
| 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 | $144.49 | +0.82
0.57% | $145.36 | 2,586,967
68.40% of 50 DAV
50 DAV is 3,782,000 | $148.15
-2.47%
| 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 | $61.58 | -0.06
-0.10% | $62.38 | 409,156
88.37% of 50 DAV
50 DAV is 463,000 | $65.08
-5.38%
| 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.
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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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