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AFTER MARKET UPDATE - TUESDAY, JULY 9TH, 2024
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DOW |
-52.82 |
39,291.97 |
-0.13% |
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Volume |
798,066,714 |
-6% |
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Volume |
4,979,557,200 |
-7% |
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NASDAQ |
+25.55 |
18,429.29 |
+0.14% |
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Advancers |
1,041 |
37% |
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Advancers |
1,945 |
45% |
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S&P 500 |
+4.13 |
5,576.98 |
+0.07% |
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Decliners |
1,747 |
63% |
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Decliners |
2,424 |
55% |
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Russell 2000 |
-9.20 |
2,029.47 |
-0.45% |
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52 Wk Highs |
87 |
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52 Wk Highs |
150 |
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S&P 600 |
-8.61 |
1,281.24 |
-0.67% |
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52 Wk Lows |
80 |
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52 Wk Lows |
160 |
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Dow Industrials Sputter as Other Indices Quietly Inch Higher
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+0.1%) and Nasdaq Composite (+0.1%) rose further into record territory. Volume was lighter than the prior session total on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by a 3-2 margin on the NYSE and by a 5-4 margin on the Nasdaq exchange. There were 43 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 44 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 S&P 500 Index is perched at a new all-time high after 6 consecutive gains.
JPMorgan Chase (JPM +1.2%), Wells Fargo (WFC +1.5%), and Citigroup (C +2.8%) were among the top performing names in the heavily-weighted financial sector (+0.7%) ahead their quarterly results due Friday. The SPDR S&P Bank ETF (KBE) closed 1.7% higher and the SPDR S&P Regional Banking ETF (KRE) jumped 1.8%.
The 10-yr note yield settled three basis points higher at 4.30% and the 2-yr note yield rose one basis point to 4.63%. The latest $58 billion 3-yr note auction met strong demand. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial and Biotech Indexes Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +1.52%) and the Broker/Dealer Index ($XBD +1.10%) both gained ground while the Retail Index ($RLX -0.16%) finished slightly lower on Tuesday. The Semiconductor Index ($SOX -0.00%) was unchanged while the Networking Index ($NWX -0.66%) edged lower and the Biotech Index ($BTK +0.73) edged higher. The Integrated Oil Index ($XOI -1.15%) and the Oil Services Index ($OSX -1.19%) both ended lower while the Gold & Silver Index ($XAU -0.19%) suffered a smaller loss.
PICTURED: The Oil Services Index ($OSX -1.19%) is sputtering below its 50-day and 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
83.37 |
-1.00 |
-1.19% |
-0.61% |
| Integrated Oil |
$XOI |
1,994.51 |
-23.18 |
-1.15% |
+7.09% |
| Semiconductor |
$SOX |
5,765.20 |
-0.01 |
-0.00% |
+38.07% |
| Networking |
$NWX |
837.71 |
-5.57 |
-0.66% |
+0.59% |
| Broker/Dealer |
$XBD |
638.47 |
+6.93 |
+1.10% |
+14.57% |
| Retail |
$RLX |
4,650.40 |
-7.27 |
-0.16% |
+19.59% |
| Gold & Silver |
$XAU |
145.32 |
-0.28 |
-0.19% |
+15.61% |
| Bank |
$BKX |
106.23 |
+1.59 |
+1.52% |
+10.63% |
| Biotech |
$BTK |
5,322.63 |
+38.68 |
+0.73% |
-1.77% |
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Consolidating Within Close Range of 52-Week High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Datadog (DDOG -$5.77 or -4.36% to $126.63) suffered a loss today with higher volume after it was highlighted in yellow in the earlier mid-day report (read here) with pivot point cited based on its 2/13/24 high plus 10 cents. It is consolidating above its 50-day moving average (DMA) line ($120.74) and perched -8.6% off its 52-week high. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
DDOG has a 99 Earnings Per Share Rating, the highest possible rank. It reported Mar '24 quarterly earnings +91% on +27% sales revenues versus the year-ago period, its 4th consecutive quarterly comparison well above the +25% minimum earnings guideline (C criteria). Its annual earnings (A criteria) history has been strong since completing its $27 IPO on 9/19/19.
It hails from the Computer Sftwr-Enterprse group which is currently ranked 103rd on the 197 Industry Groups list. The number of top-rated funds owning its shares rose from 1,658 in Sep '23 to 1,927 in Jun '24, a reassuring sign concerning the I criteria.
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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
Aerospace/Defense
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$1,270.46
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-1.72
-0.14% |
$1,274.97
|
167,695
69.30% of 50 DAV
50 DAV is 242,000
|
$1,369.58
-7.24%
|
4/12/2024
|
$1,224.21
|
PP = $1,246.32
|
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MB = $1,308.64
|
Most Recent Note - 7/8/2024 5:36:46 PM
G - Still lingering below its 50 DMA line ($1,303.65). Only a prompt rebound above the 50 DMA line would help its outlook improve. 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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$356.19
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-0.64
-0.18% |
$359.66
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7,247
31.51% of 50 DAV
50 DAV is 23,000
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$378.78
-5.96%
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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 - 7/8/2024 5:37:51 PM
Y - Still perched within close striking distance of all-time high. 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 (or add-on) technical buy signal. Found prompt support after briefly undercutting its 50 DMA line ($348) in recent weeks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : in Striking Distance of All-Time High After Volume-Driven Gains - 6/28/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
|
$59.26
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+0.09
0.15% |
$60.65
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1,249,847
55.97% of 50 DAV
50 DAV is 2,233,000
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$61.06
-2.95%
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7/6/2024
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$57.62
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PP = $61.16
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MB = $64.22
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Most Recent Note - 7/5/2024 8:37:36 PM
Y - Consolidating in an orderly fashion near its all-time high and its color code is changed to yellow with new pivot point cited based on its 5/28/24 high plus 10 cents. Important support is at prior highs in the $51 area and its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Consolidating Above Prior Highs in an Orderly Fashion - 6/27/2024 |
View all notes |
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Company Profile |
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News |
Chart |
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C
A
S
I |
DECK
-
NYSE
Deckers Outdoor
Apparel-Shoes and Rel Mfg
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$939.05
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-13.65
-1.43% |
$955.15
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226,118
66.90% of 50 DAV
50 DAV is 338,000
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$1,106.89
-15.16%
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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 - 7/8/2024 5:34:12 PM
G - Posted a gain today with near average volume, finding support near prior highs in the $956 and its 50 DMA line ($952.48).
>>> FEATURED STOCK ARTICLE : Deckers Consolidating Near High - 6/13/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
ELF
-
NYSE
e.l.f. Beauty
Cosmetics/Personal Care
|
$206.42
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+3.34
1.64% |
$210.38
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1,037,167
66.10% of 50 DAV
50 DAV is 1,569,000
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$221.83
-6.95%
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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 - 7/8/2024 5:35:32 PM
Y - Posted a small gain today with light 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 ($183.50) 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 |
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News |
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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
-
NASDAQ
PDD Holdings ADR
Retail-Internet
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$137.72
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+3.04
2.26% |
$138.04
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6,232,842
66.85% of 50 DAV
50 DAV is 9,324,000
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$164.69
-16.38%
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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 - 7/9/2024 10:44:35 PM
G - Posted a small gain today with light volume, still lingering below its 50 DMA line ($141.65). A rebound above the 50 DMA line is needed for its outlook to improve. Its 200 DMA line ($128) defines important near-term support.
>>> 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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$385.88
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-4.83
-1.24% |
$398.33
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2,973,776
59.31% of 50 DAV
50 DAV is 5,014,000
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$397.12
-2.83%
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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 - 7/9/2024 10:42:15 PM
G - Color code is changed to green after it touched a new high today above its "max buy" level but reversed into the red. Prior highs in the $358-365 area define initial support to watch above its 50 DMA line ($350). Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure Hovering Near All-Time High - 6/21/2024 |
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Company Profile |
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News |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
|
$140.43
|
-2.64
-1.85% |
$141.29
|
4,584,970
118.35% of 50 DAV
50 DAV is 3,874,000
|
$148.15
-5.21%
|
6/7/2024
|
$143.06
|
PP = $138.38
|
|
MB = $145.30
|
Most Recent Note - 7/9/2024 12:05:20 PM
Y - Consolidating above prior highs in the $138 area which define initial support to watch above its 50 DMA line ($136.40). Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Perched Near All-Time High Following Recent Gap Up With Volume - 7/1/2024 |
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Company Profile |
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News |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
|
$58.93
|
-1.54
-2.55% |
$60.47
|
1,551,290
302.40% of 50 DAV
50 DAV is 513,000
|
$65.08
-9.45%
|
6/11/2024
|
$59.76
|
PP = $64.33
|
|
MB = $67.55
|
Most Recent Note - 7/9/2024 11:57:58 AM
G - Slumping below its 50 DMA line ($60.92) raising concerns and triggering a technical sell signal and its color code is changed to green. Only a prompt rebound above the 50 DMA line would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Granite Testing Support at 50-Day Moving Average - 7/2/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
DDOG
-
NASDAQ
Datadog
Computer Sftwr-Enterprse
|
$126.63
|
-5.77
-4.36% |
$131.70
|
4,834,613
115.27% of 50 DAV
50 DAV is 4,194,000
|
$138.61
-8.64%
|
7/9/2024
|
$126.92
|
PP = $138.71
|
|
MB = $145.65
|
Most Recent Note - 7/9/2024 10:43:37 PM
Y - Suffered a loss today with above average volume, finishing weak after highlighted in yellow in the earlier mid-day report with pivot point cited based on its 2/13/24 high plus 10 cents. Consolidating above its 50 DMA line and perched within striking distance of its 52-week high. Reported Mar '24 quarterly earnings +91% on +27% sales revenues versus the year-ago period its 4th consecutive quarterly comparison well above the +25% minimum earnings guideline (C criteria). Its annual earnings (A criteria) history has been strong since completing its $27 IPO on 9/19/19. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Within Close Range of 52-Week High - 7/9/2024 |
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 |
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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
or 954-785-1121.
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