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AFTER MARKET UPDATE - FRIDAY, JULY 29TH, 2016
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DOW |
-24.11 |
18,432.24 |
-0.13% |
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Volume |
1,172,324,660 |
+37% |
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Volume |
1,869,295,710 |
+4% |
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NASDAQ |
+7.15 |
5,162.13 |
+0.14% |
|
Advancers |
1,886 |
63% |
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Advancers |
1,489 |
50% |
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S&P 500 |
+3.54 |
2,173.60 |
+0.16% |
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Decliners |
1,127 |
37% |
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Decliners |
1,481 |
50% |
|
Russell 2000 |
+2.62 |
1,219.94 |
+0.21% |
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52 Wk Highs |
308 |
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52 Wk Highs |
153 |
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S&P 600 |
+1.12 |
743.98 |
+0.15% |
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52 Wk Lows |
18 |
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52 Wk Lows |
36 |
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Indices Posted Solid Gains for July
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
For the week, the Dow lost 0.8%, the S&P 500 dipped 0.1%, and the Nasdaq climbed 1.2%. For the month the Dow added 2.8%, the S&P 500 climbed 3.6%, and the Nasdaq advanced 6.6%. Stocks were mixed on Friday. The Dow lost 24 points to 18432. The S&P 500 added 3 points to 2173. The Nasdaq Composite climbed 7 points to 5162. The benchmark S&P 500 Index, the S&P 400 Mid Cap, and the S&P 600 Small Cap Index each hit new record highs on Friday. Big gains for the major indices were noted in prior commentaries and that bullish action signaled a new "confirmed uptrend" for the market (M criteria). Volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange. Advancers led decliners by a 3-2 margin on the NYSE while the mix was even on the Nasdaq exchange. There were 65 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 62 on the prior session. New 52-week highs outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange. PICTURED: The benchmark S&P 500 Index touched a new record high.
The major averages fluctuated on the final trading day of July following a weaker-than-expected U.S GDP report. The Commerce Department said the economy grew at a 1.2% annualized rate, well below a projected 2.6%. Separate releases showed that Midwest manufacturing activity improved in July and consumer sentiment for the month was revised slightly higher. Seven of ten sectors in the S&P 500 finished the session in positive territory with Telecom and Utilities shares leading the way. Tech shares advanced with Google parent Alphabet (GOOG +3.07%) rose following its positive profit results last night. Amazon.com (AMZN +0.82%) edged near an all-time high after the company easily exceeded analyst earnings expectations. Materials underperformed with Eastman Chemical (EMN -7.30%) as quarterly sales missed consensus estimates. Treasuries were higher with the 10-year note up 15/32 to yield 1.45%. In commodities, NYMEX WTI crude rebounded 0.8% to $41.45/barrel while COMEX gold increased 1.5% to $1351.80/ounce. In FOREX, the dollar retreated 3.1% against the yen after stimulus measures from the Bank of Japan disappointed investors this morning. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups, Biotech and Retail Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.51%) posted a small gain but the Broker/Dealer Index ($XBD -0.28%) and the Bank Index ($BKX -0.31%) weighed on the major averages on Friday. The Biotechnology Index ($BTK +1.88%) led the tech sector and the Networking Index ($NWX +0.30%) edged higher but the Semiconductor Index ($SOX -0.49%) edged lower. Commodity-linked groups were the session's best performers as the Integrated Oil Index ($XOI +1.00%), Oil Services Index ($OSX +1.31%) and the Gold & Silver Index ($XAU +2.35%) each posted a solid gain. Charts courtesy www.stockcharts.com
PICTURED: The Retail Index ($RLX +0.51%) has rallied to new record highs.
| Oil Services |
$OSX |
160.84 |
+2.08 |
+1.31% |
+1.97% |
| Integrated Oil |
$XOI |
1,116.01 |
+11.09 |
+1.00% |
+4.04% |
| Semiconductor |
$SOX |
766.78 |
-3.74 |
-0.49% |
+15.57% |
| Networking |
$NWX |
379.89 |
+1.14 |
+0.30% |
+1.05% |
| Broker/Dealer |
$XBD |
163.31 |
-0.46 |
-0.28% |
-8.30% |
| Retail |
$RLX |
1,367.22 |
+7.00 |
+0.51% |
+6.53% |
| Gold & Silver |
$XAU |
110.28 |
+2.54 |
+2.36% |
+143.44% |
| Bank |
$BKX |
68.00 |
-0.21 |
-0.31% |
-6.95% |
| Biotech |
$BTK |
3,388.93 |
+62.54 |
+1.88% |
-11.14% |
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Consolidating Near Highs Above its "Max Buy" Level
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Maxlinear Inc (MXL -$0.26 or -1.18% to $21.81) is consolidating above its "max buy" level following volume-driven gains for new highs. Recent lows and the 200-day moving average (DMA) line in the $16.85 area define important support to watch on pullbacks. The high-ranked Electronics - Semiconductor firm was last shown in the FSU section on 7/05/16 with an annotated graph under the headline, "Slump Into Prior Base and Below 50-Day Moving Average Raised Concerns". Volume-driven losses leading to a slump into the prior base and a violation of the 50 DMA line had triggered a technical sell signal. A subsequent rebound above the 50 DMA line on 7/08/16 helped its near-term outlook improve,
There was a powerful gap up on 5/10/16 for a considerable volume-driven gain after it reported strong earnings +422% on +190% sales revenues for the Mar '16 quarter versus the year ago period. The gain helped it rebound above its 50-day moving average (DMA) line. Members were reminded - "Remember that any stock that was previously sold can be bought again when strength returns."MXL was first highlighted in yellow with pivot point cited based on its 1/13/16 high in the 2/26/16 mid-day report (read here). It ended up breaking out convincingly with a subsequent streak of gains on above average volume, clearing the previously noted a "double bottom" base and triggering a technical buy signal. The high-ranked Semiconductor firm saw sales revenues increases of +99%, +193%, and +205% for the Jun, Sep, and Dec '15 quarters, respectively, versus the year ago periods as earnings rose +62%, +900%, and +820%. The 3 strong quarterly comparisons above the +25% minimum guideline (C criteria) were noted in the 2/09/16 mid-day report - "Helping it better match the fact-based investment system's guidelines." Its small supply of only 54.5 million shares in the public float (S criteria) may contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 175 in Mar '15 to 309 in Jun '16, a very reassuring sign (I criteria). It currently has a Timeliness rating of A, and a Sponsorship Rating of D. |
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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 Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services
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$279.52
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+0.53
0.19% |
$280.28
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504,713
68.20% of 50 DAV
50 DAV is 740,000
|
$279.52
0.00%
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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 - 7/27/2016 5:46:35 PM
G - Volume totals still have been cooling while wedging further into new all-time high territory. Its 50 DMA line ($263) defines important near-term support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Gains Lack Great Volume While Wedging to New Highs - 7/27/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$15.55
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-0.18
-1.14% |
$16.08
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59,351
67.44% of 50 DAV
50 DAV is 88,000
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$16.77
-7.27%
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7/26/2016
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$15.79
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PP = $15.74
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MB = $16.53
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Most Recent Note - 7/28/2016 5:31:20 PM
Y - Consolidating near prior highs which define initial support to watch. The gain above the pivot point backed by +140% above average volume when highlighted on 7/26/16 clinched a technical buy signal. Fundamentals remain strong and it found support at its 200 DMA line and rebounded after dropped from the Featured Stocks list on 6/21/16. See the latest FSU analysis for additional details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain for New Highs Clinched Technical Buy Signal - 7/26/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$204.27
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-1.76
-0.85% |
$206.00
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489,117
36.86% of 50 DAV
50 DAV is 1,327,000
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$210.27
-2.85%
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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 - 7/29/2016 5:10:05 PM
G - Stubbornly holding its ground above its "max buy" level with volume totals cooling. Disciplined investors avoid chasing stocks more than +5% above the prior high or pivot point. Prior highs near $186 define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Perched +5% Above Prior Highs Following Volume-Driven Gains - 7/15/2016 |
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Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$38.43
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-0.10
-0.26% |
$38.70
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116,623
52.30% of 50 DAV
50 DAV is 223,000
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$41.76
-7.97%
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7/13/2016
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$38.87
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PP = $39.29
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MB = $41.25
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Most Recent Note - 7/26/2016 5:05:11 PM
Y - Pulled back today for a small loss with higher (near average) volume. Sputtering since the 7/15/16 gain backed by +57% above average volume clinched a technical buy signal.
>>> FEATURED STOCK ARTICLE : Negative Reversal After Touching New High - 7/13/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
Chart |
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C
A
S
I |
MXL
-
NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure
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$21.81
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-0.26
-1.18% |
$22.13
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1,346,126
133.94% of 50 DAV
50 DAV is 1,005,000
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$22.50
-3.07%
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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 - 7/29/2016 5:08:08 PM
G - Consolidating above its "max buy" level. Recent lows and the 200 DMA line in the $16.85 area define important support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Near Highs Above its "Max Buy" Level - 7/29/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
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 |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$64.56
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-1.84
-2.77% |
$66.89
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173,678
113.52% of 50 DAV
50 DAV is 153,000
|
$69.53
-7.15%
|
5/24/2016
|
$53.45
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PP = $50.68
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|
MB = $53.21
|
Most Recent Note - 7/28/2016 5:29:04 PM
G - Reported strong earnings for the Jun '16 quarter and hit a new all-time high today, getting more extended from any sound base. Disciplined investors avoid chasing stocks more than +5% above prior highs. Its 50 DMA line ($57.85) defines near-term support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Rallied +30% in 2 Months Since Breakout Was Featured - 7/28/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
FBHS
-
NYSE
Fortune Brands Hme & Sec
Bldg-Constr Prds/Misc
|
$63.27
|
-0.57
-0.89% |
$64.21
|
1,823,067
98.23% of 50 DAV
50 DAV is 1,856,000
|
$64.47
-1.86%
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6/22/2016
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$57.71
|
PP = $60.08
|
|
MB = $63.08
|
Most Recent Note - 7/28/2016 12:46:48 PM
Y - Volume is running at an above average pace while hitting new highs above its "max buy" level after gapping up. Reported earnings +39% on +11% sales revenues for the Jun '16 quarter. Volume and volatility often increase near earnings news.
>>> FEATURED STOCK ARTICLE : New Highs Lack Important Institutional Volume Punch - 7/11/2016 |
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C
A
S
I |
NVEE
-
NASDAQ
N V 5 Global Inc
Comml Svcs-Consulting
|
$32.17
|
-0.48
-1.47% |
$32.74
|
56,421
55.86% of 50 DAV
50 DAV is 101,000
|
$33.14
-2.93%
|
4/19/2016
|
$28.20
|
PP = $28.10
|
|
MB = $29.51
|
Most Recent Note - 7/29/2016 5:11:09 PM
G - Volume totals have been below average while holding its ground near all-time highs. Its 50 DMA line ($28.64) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Winning Streak Leaves Leader Extended From Prior Base Pattern - 7/18/2016 |
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C
A
S
I |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$50.63
|
-0.30
-0.59% |
$51.17
|
57,379
51.69% of 50 DAV
50 DAV is 111,000
|
$53.58
-5.51%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
|
Most Recent Note - 7/26/2016 5:02:48 PM
Y - A volume-driven gain and strong close above the pivot point may help clinch a convincing technical buy signal. It has been quietly consolidating since highlighted in yellow in the 7/19/16 mid-day report with pivot point cited based on the 6/01/16 high plus 10 cents.
>>> FEATURED STOCK ARTICLE : Meeting Resistance Near Prior Highs - 7/20/2016 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$26.14
|
+0.56
2.19% |
$26.35
|
360,060
38.06% of 50 DAV
50 DAV is 946,000
|
$28.72
-8.98%
|
7/19/2016
|
$26.42
|
PP = $28.82
|
|
MB = $30.26
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Most Recent Note - 7/29/2016 5:12:42 PM
Y - Volume-driven gains for new highs are still needed to trigger a technical buy signal. Completed another Secondary Offering on 6/06/16. Such offerings often hinder upward price progress for the short term, yet they also help to attract more institutional sponsorship.
>>> FEATURED STOCK ARTICLE : Retail Firm Approaching Pivot Point - 7/19/2016 |
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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.
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