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AFTER MARKET UPDATE - THURSDAY, JULY 25TH, 2024
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DOW |
+81.20 |
39,935.07 |
+0.20% |
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Volume |
1,104,641,808 |
+13% |
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Volume |
6,194,354,000 |
-9% |
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NASDAQ |
-160.69 |
17,181.72 |
-0.93% |
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Advancers |
1,799 |
66% |
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Advancers |
2,457 |
58% |
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S&P 500 |
-27.91 |
5,399.22 |
-0.51% |
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Decliners |
924 |
34% |
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Decliners |
1,743 |
41% |
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Russell 2000 |
+27.61 |
2,222.98 |
+1.26% |
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52 Wk Highs |
167 |
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52 Wk Highs |
210 |
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S&P 600 |
+19.21 |
1,403.96 |
+1.39% |
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52 Wk Lows |
27 |
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52 Wk Lows |
111 |
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Small Caps Outperformed Major Indices
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow Jones Industrial Average (+0.2%) and Russell 2000 (+1.3%) both posted gains but the S&P 500 (-0.5%) and Nasdaq Composite (-0.9%) both ended lower on Thursday. Volume reported was mixed, higher than the prior session total on the NYSE and lower on the Nasdaq exchange. Breadth was positive as advancers led decliners by almost a 2-1 margin on the NYSE and by 4-3 on the Nasdaq exchange. There were 70 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 52 on the prior session. New 52-week highs totals expanded and outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are in an uptrend that has been encountering pressure (M criteria). Remember that any uptrend requires healthy leadership and it remains important for a countining flow of stocks hitting new highs.
PICTURED: The Dow Jones Industrial Average posted a gain on Thursday finding support near its March-May highs. It is well above its 50-day moving average (DMA) line with a big loss while retreating from new all-time highs.
Outsized moves in either direction were reserved for names with specific catalysts. Honeywell (HON -5.24%) and Ford Motor (F -18.38%) were losing standouts after reporting earnings news. Meanwhile, IBM (IBM +4.33%) and ServiceNow (NOW +13.40%) are winning standouts after reporting earnings.
A fresh $44 billion 7-yr note auction met strong demand. The 10-yr note yield declined three basis points to 4.26% and the 2-yr note yield rose two basis points to 4.44%. Treasuries were reacting to economic releases which were in-line with "soft landing" expectations. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial, Energy, Networking, and Biotech Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.93%) and the Bank Index ($BKX +1.20%) both posted solid gains while the Retail Index ($RLX -0.06%) finished flat on Thursday's session. The tech sector was mixed as the Semiconductor Index ($SOX -1.96%) continued sharply lower while the Networking Index ($NWX +2.25%) and the Biotech Index ($BTK +1.33%) both posted small gains. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU -2.42%) slumped, meanwhile the Oil Services Index ($OSX +3.57%) and the Integrated Oil Index ($XOI +1.70%) both posted solid gains.
PICTURED: The Gold & Silver Index ($XAU -2.42%) tested its 50-day moving average (DMA) line with a big loss.
| Oil Services |
$OSX |
90.47 |
+3.12 |
+3.57% |
+7.85% |
| Integrated Oil |
$XOI |
2,042.72 |
+34.15 |
+1.70% |
+9.68% |
| Semiconductor |
$SOX |
5,005.36 |
-100.30 |
-1.96% |
+19.88% |
| Networking |
$NWX |
887.07 |
+19.50 |
+2.25% |
+6.51% |
| Broker/Dealer |
$XBD |
665.66 |
+12.57 |
+1.93% |
+19.45% |
| Retail |
$RLX |
4,404.81 |
-2.77 |
-0.06% |
+13.27% |
| Gold & Silver |
$XAU |
145.75 |
-3.62 |
-2.42% |
+15.96% |
| Bank |
$BKX |
114.21 |
+1.35 |
+1.20% |
+18.95% |
| Biotech |
$BTK |
5,661.51 |
+74.04 |
+1.33% |
+4.48% |
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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 |
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Max Buy |
TDG
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NYSE
TransDigm Group
Aerospace/Defense
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$1,228.42
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-17.06
-1.37% |
$1,262.92
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200,470
82.16% of 50 DAV
50 DAV is 244,000
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$1,369.58
-10.31%
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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 - 7/24/2024 3:30:36 PM
G - Gapped down today after rebounding but meeting resistance at its 50 DMA line ($1,297.53) which is now downward sloping. It is -8.3% off its all-time high. A rebound above the 50 DMA line is needed to improve its outlook. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Lingering Below 50-Day Moving Average But Only -7% Off High - 7/10/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
USLM
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NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$81.75
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+0.37
0.45% |
$84.25
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82,675
78.00% of 50 DAV
50 DAV is 106,000
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$85.10
-3.94%
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6/18/2024
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$71.26
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PP = $75.77
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MB = $79.56
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Most Recent Note - 7/22/2024 5:39:15 PM
G - Posted a gain today with below-average volume, ending at a best-ever close near its all-time high. Color code is changed to green after rising above its "max buy" level. Found support while consolidating above its 50 DMA line ($72). Do not be confused as shares split 5:1 (Featured Price and Pivot Point were adjusted).
>>> FEATURED STOCK ARTICLE : Recent Breakout Triggered New (or Add-On) Technical Buy Signal - 7/22/2024 |
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
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$51.07
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-2.32
-4.35% |
$55.88
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6,269,387
284.84% of 50 DAV
50 DAV is 2,201,000
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$63.49
-19.56%
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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 - 7/25/2024 5:14:50 PM
G - Today's 2nd consecutive volume-driven loss more deeply violated its 50 DMA line ($56) after triggering a technical sell signal in the prior session. Stalled after quietly touching a new all-time high. Repeatedly noted - "A gain backed by at least +40% above average volume and a close above the new pivot point cited based on its 5/28/24 high plus 10 cents may trigger a proper technical buy signal. Important support is at its 50 DMA line ($54.60)."
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line After Wedging to New High - 7/19/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NVO
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NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$127.86
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-3.74
-2.84% |
$129.98
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5,301,684
140.55% of 50 DAV
50 DAV is 3,772,000
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$148.15
-13.70%
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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 - 7/24/2024 3:32:58 PM
G - Abruptly slumped below its 50 DMA line ($138.56) with heavier volume behind damaging losses last week raising concerns and triggering a technical sell signal. Only a prompt rebound above the 50 DMA line would help its outlook improve. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Violation of 50-Day Moving Average Line Raised Concerns - 7/24/2024 |
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
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$66.38
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+0.53
0.80% |
$67.28
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693,822
104.33% of 50 DAV
50 DAV is 665,000
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$68.71
-3.39%
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6/11/2024
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$59.76
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PP = $64.33
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MB = $67.55
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Most Recent Note - 7/24/2024 12:34:38 PM
G - Color code is changed tro green with today 3rd consecutive gain backed by above-average volume rallying above its "max buy" level to a new all-time high. Prior highs in the $64 area define initial support to watch above its 50 DMA line ($62.31).
>>> FEATURED STOCK ARTICLE : Granite Testing Support at 50-Day Moving Average - 7/2/2024 |
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 |
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Max Buy |
DDOG
-
NASDAQ
Datadog Inc
Computer Sftwr-Enterprse
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$120.31
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+2.99
2.55% |
$121.99
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3,459,588
95.16% of 50 DAV
50 DAV is 3,635,400
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$138.61
-13.20%
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7/9/2024
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$126.92
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PP = $138.71
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MB = $145.65
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Most Recent Note - 7/24/2024 3:28:51 PM
G - Color code is changed to green today while sinking below its 50 DMA line ($120.95) testing important support is at its 200 DMA line ($117.86). More damaging losses would raise serious concerns and trigger a worrisome technical sell signal. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> 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 |
MMYT
-
NASDAQ
MakeMyTrip
Leisure-Travel Booking
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$89.55
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-1.32
-1.45% |
$92.47
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934,726
117.43% of 50 DAV
50 DAV is 796,000
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$100.22
-10.65%
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7/23/2024
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$96.92
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PP = $93.39
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MB = $98.06
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Most Recent Note - 7/24/2024 1:17:50 PM
Y - Pulling back today following 4 consecutive volume-driven gains. Finished strong after highlighted in yellow in the 7/23/24 mid-day report with pivot point cited based on its 7/10/24 high plus 10 cents. Triggered a technical buy signal as it powered to a new all-time high. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Volume Driven Trip to New Highs - 7/23/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
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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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