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AFTER MARKET UPDATE - THURSDAY, JULY 7TH, 2016
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DOW |
-22.74 |
17,895.88 |
-0.13% |
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Volume |
851,326,820 |
-17% |
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Volume |
1,532,607,500 |
-9% |
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NASDAQ |
+17.65 |
4,876.81 |
+0.36% |
|
Advancers |
1,637 |
55% |
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Advancers |
1,680 |
58% |
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S&P 500 |
-1.83 |
2,097.90 |
-0.09% |
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Decliners |
1,356 |
45% |
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Decliners |
1,228 |
42% |
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Russell 2000 |
+2.42 |
1,149.76 |
+0.21% |
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52 Wk Highs |
168 |
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52 Wk Highs |
86 |
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S&P 600 |
+1.25 |
705.56 |
+0.18% |
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52 Wk Lows |
20 |
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52 Wk Lows |
29 |
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Major Indices Ended Little Changed While Leadership Waned
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished little changed Thursday. The Dow was down 23 points to 17895. The S&P 500 slipped 2 points to 2097. The Nasdaq Composite closed 18 points higher at 4876. The volume totals were lighter than the prior session on the NYSE and on the Nasdaq exchange. Advancers led decliners by an 8-7 margin on the NYSE and by 4-3 on the Nasdaq exchange. There were 40 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 51 on the prior session. New 52-week highs outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange. PICTURED: The Dow Jones Industrial Average is consolidating above its 50-day moving average (DMA) line and perched only -1.5% off its April 2016 high.
Big gains for the major indices and strong closes near each session high last Tuesday, Wednesday, and Thursday effectively put an end to the "correction" noted in prior commentaries. Experts at the newspaper stated that the bullish action signaled a new "confirmed uptrend" for the market (M criteria).
The S&P 500 Index, Dow Jones Industrial Average and Nasdaq Composite Index have unanimously rebounded above their 50-day moving average (DMA) lines following recent damaging losses on much heavy volume. On the Featured Stocks Page a few noteworthy candidates remain, however in recent weeks few have made meaningful headway. The major averages ended a choppy session mixed as investors appeared cautious heading into tomorrow’s jobs report. Forecasts are non-farm payrolls rose 180,000 in June while the unemployment rate edged up to 4.8%. Today’s employment reading from ADP showed private payrolls increased 172,000 last month versus a projected 160,000 increase. Initial jobless claims unexpectedly declined 16,000 to 254,000 from 270,000 in the prior week. A drop in oil also provided a market headwind after weekly U.S. inventories declined less than anticipated. Shares of Chevron (CVX -1.46%) and Exxon (XOM -1.20%) fell. On the earnings front, Pepsi (PEP +1.48%) rose after providing guidance above analyst forecasts. Western Digital (WDC +4.84%) after the disk drive maker raised its fourth-quarter outlook. In M&A news, WhiteWave (WWAV +18.55) rose after DANONE (DANOY +1.06%) agreed to buy the non-dairy and dairy producer for $10 billion. Consumer Discretionary was the best performing sector in the S&P500. Viacom (VIAB +4.01%) rose. Utilities were down the most on the session as Exelon (EXC -2.54%) fell. Treasuries were mostly lower with the 10-year note down 6/32 to yield 1.39%. In commodities, NYMEX WTI crude dropped 4.7% to $45.18/barrel. COMEX gold was off 0.4% to $1361.30/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financials and the Tech Sector Showed a Positive Bias
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.61%) and the Bank Index ($BKX +0.80%) both ended higher and lifted the major averages on Thursday. The Retail Index ($RLX -0.12%) edged lower. The Gold & Silver index ($XAU -2.82%) retreated. The Semiconductor Index ($SOX +1.23%) and Biotechnology Index ($BTK +0.87%) outpaced the Networking Index ($NWX +0.70%) as the tech sector showed a positive bias. The Oil Services Index ($OSX +0.11%) edged higher but the Integrated Oil Index ($XOI -1.21%) fell. Charts courtesy www.stockcharts.com
PICTURED: The Networking Index ($NWX +0.70%) is consolidating near its 50-day and 200-day moving average (DMA) lines. It recently found support above its May 2016 lows.
| Oil Services |
$OSX |
163.61 |
+0.18 |
+0.11% |
+3.73% |
| Integrated Oil |
$XOI |
1,116.88 |
-13.73 |
-1.21% |
+4.12% |
| Semiconductor |
$SOX |
681.82 |
+8.27 |
+1.23% |
+2.76% |
| Networking |
$NWX |
361.18 |
+2.51 |
+0.70% |
-3.92% |
| Broker/Dealer |
$XBD |
149.43 |
+2.37 |
+1.61% |
-16.09% |
| Retail |
$RLX |
1,310.96 |
-1.63 |
-0.12% |
+2.14% |
| Gold & Silver |
$XAU |
103.84 |
-3.02 |
-2.83% |
+129.23% |
| Bank |
$BKX |
63.27 |
+0.50 |
+0.80% |
-13.42% |
| Biotech |
$BTK |
3,143.13 |
+27.69 |
+0.89% |
-17.59% |
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Seriously Applying the Fact-Based System Now
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Asset Management Services Using the Winning Fact-Based Investment System - Inquire Now! You can have professional help in limiting your losses and maximizing your gains in all market environments. For help with how your portfolio is managed in 2016 and beyond click here and indicate "Find a Broker". *Accounts over $250,000 please. **Serious inquires only, please. |
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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 Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services
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$262.46
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+0.14
0.05% |
$264.91
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386,393
44.72% of 50 DAV
50 DAV is 864,000
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$268.00
-2.07%
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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 - 7/6/2016 5:11:24 PM
G - Recent lows and its 50 DMA line ($251.84) define important near-term support to watch on pullbacks. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Near Highs After Finding Support Above 50-Day Moving Average Line - 7/1/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NTES
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NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$188.44
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+2.32
1.25% |
$189.41
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1,174,550
83.90% of 50 DAV
50 DAV is 1,400,000
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$193.44
-2.58%
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6/29/2016
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$182.42
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PP = $186.55
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MB = $195.88
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Most Recent Note - 7/7/2016 4:22:00 PM
Y - Volume totals have been cooling while consolidating above prior highs after triggering a technical buy signal with a volume-driven gain on 6/30/16. Highlighted in yellow with pivot point cited based on its 12/29/15 high plus 10 cents in the 6/29/16 mid-day report (read here).
>>> FEATURED STOCK ARTICLE : Rallying Within Striking Distance of Highs - 6/29/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
MXL
-
NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure
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$17.82
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+0.01
0.06% |
$18.18
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691,681
62.26% of 50 DAV
50 DAV is 1,111,000
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$20.98
-15.05%
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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 - 7/5/2016 5:36:02 PM
G - The 200 DMA line and prior lows in the $15-16 area define the next important support area. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Slump Into Prior Base and Below 50-Day Moving Average Raised Concerns - 7/5/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$63.75
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+1.35
2.16% |
$63.88
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182,274
121.52% of 50 DAV
50 DAV is 150,000
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$63.83
-0.13%
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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 - 7/7/2016 12:17:22 PM
G - Hitting yet another new high today, getting more extended from any sound base following volume-driven gains. Disciplined investors avoid chasing stocks more than +5% above prior highs. Its 50 DMA line ($52.42) defines near-term support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Getting Extended From Prior Base After More Volume-Driven Gains - 7/6/2016 |
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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$58.78
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+0.19
0.32% |
$58.84
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1,062,039
61.18% of 50 DAV
50 DAV is 1,736,000
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$59.98
-2.00%
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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 - 7/5/2016 5:38:20 PM
Y - Consolidating after a quiet rebound above its 50 DMA line ($57.03) helped its outlook to improve. Members were repeatedly reminded since first featured in the 6/22/16 mid-day report - "It needs subsequent volume-driven gains above the pivot point to trigger a technical buy signal."
>>> FEATURED STOCK ARTICLE : Wait Continues for Technical Breakout - 6/22/2016 |
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 |
NVEE
-
NASDAQ
N V 5 Global Inc
Comml Svcs-Consulting
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$27.38
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+0.02
0.07% |
$27.74
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44,281
36.90% of 50 DAV
50 DAV is 120,000
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$30.21
-9.37%
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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 - 7/6/2016 5:10:23 PM
Y - Color code is changed to yellow after quietly rebounding above its 50 DMA line ($27.15). Faces a little resistance due to overhead supply. Recent lows in the $24 area define the next important support to watch.
>>> FEATURED STOCK ARTICLE : Perched Near Highs After Rebound Above 50-Day Average - 6/30/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
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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