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AFTER MARKET UPDATE - MONDAY, JULY 29TH, 2024
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DOW |
-49.41 |
40,539.93 |
-0.12% |
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Volume |
852,200,864 |
-4% |
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Volume |
4,982,197,500 |
-7% |
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NASDAQ |
+12.32 |
17,370.20 |
+0.07% |
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Advancers |
1,142 |
41% |
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Advancers |
1,482 |
35% |
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S&P 500 |
+4.44 |
5,463.54 |
+0.08% |
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Decliners |
1,622 |
59% |
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Decliners |
2,783 |
65% |
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Russell 2000 |
-24.74 |
2,235.33 |
-1.09% |
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52 Wk Highs |
168 |
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52 Wk Highs |
164 |
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S&P 600 |
-9.78 |
1,419.57 |
-0.68% |
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52 Wk Lows |
14 |
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52 Wk Lows |
90 |
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Major Indices Little Changed on Session
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+0.1%) and Nasdaq Composite (+0.1%) eked out slim gains while the Dow Jones Industrial Average closed 0.1% lower and the Russell 2000 underperformed, dropping 1.1%. Volume reported was lighter than the prior session total on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by a 4-3 margin on the NYSE and by nearly 2-1 on the Nasdaq exchange. There were 75 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 112 on the prior session. New 52-week highs totals contracted yet 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 continuing flow of stocks hitting new highs.
PICTURED: The Nasdaq Composite Index is consolidating below its 50-day moving average (DMA) line.
Dow component McDonald's (MCD +3.7%) closed higher despite reporting disappointing quarterly results. The S&P 500 consumer discretionary sector (+1.4%) benefitted from gains in Amazon and Tesla (TSLA +5.6%). The communication services sector was the next best performer, jumping +0.9%. The heavily-weighted information technology (-0.3%) and financials (-0.2%) sectors were top laggards.
The U.S. Treasury announced that it expects to borrow $740 billion in Q3, $106 billion less than anticipated in April. Q4 borrowing is expected to reach $565 billion. The Treasury market didn't react much to the news, ultimately settling little changed. The 10-yr note yield declined two basis points to 4.18% and the 2-yr note yield settled unchanged at 4.39%. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Networking, and Gold & Silver Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.41%) posted a small gain while the Bank Index ($BKX -0.97%) and the Broker/Dealer Index ($XBD -0.89%) both finished lower. The tech sector was mixed as the Semiconductor Index ($SOX -0.30%) edged lower and the Biotech Index ($BTK -0.03%) finished flat while the Networking Index ($NWX +1.00%) posted a solid gain. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU +0.71%) rose while the Oil Services Index ($OSX -1.58%) and the Integrated Oil Index ($XOI -1.03%) each lost ground.
PICTURED: The Networking Index ($NWX +1.00%) posted a solid gain hitting a new 2024 high.
| Oil Services |
$OSX |
89.68 |
-1.44 |
-1.58% |
+6.91% |
| Integrated Oil |
$XOI |
2,026.77 |
-21.13 |
-1.03% |
+8.82% |
| Semiconductor |
$SOX |
5,087.62 |
-15.51 |
-0.30% |
+21.85% |
| Networking |
$NWX |
913.04 |
+9.02 |
+1.00% |
+9.63% |
| Broker/Dealer |
$XBD |
657.75 |
-5.92 |
-0.89% |
+18.03% |
| Retail |
$RLX |
4,489.52 |
+18.51 |
+0.41% |
+15.45% |
| Gold & Silver |
$XAU |
147.82 |
+1.04 |
+0.71% |
+17.60% |
| Bank |
$BKX |
114.17 |
-1.12 |
-0.97% |
+18.91% |
| Biotech |
$BTK |
5,693.16 |
-1.76 |
-0.03% |
+5.06% |
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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 |
|
Max Buy |
TDG
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NYSE
Transdigm Group Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services
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$1,236.12
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+1.26
0.10% |
$1,246.80
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173,045
71.62% of 50 DAV
50 DAV is 241,600
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$1,369.58
-9.74%
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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 |
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C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$82.38
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-1.55
-1.85% |
$84.39
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52,041
49.10% of 50 DAV
50 DAV is 106,000
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$85.10
-3.20%
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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 - 7/26/2024 6:43:31 PM
G - Posted a gain today with near average volume for its 2nd best ever close near its all-time high. Color code was changed to green after rising above its "max buy" level. Found support while consolidating above its 50 DMA line ($72.59). 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 |
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Company Profile |
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News |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$50.00
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-2.67
-5.07% |
$53.41
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3,610,421
154.62% of 50 DAV
50 DAV is 2,335,000
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$63.49
-21.25%
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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 - 7/29/2024 11:21:43 PM
Today's volume-driven loss led it further below its 50 DMA line and it will be dropped from the Featured Stocks list tonight. A rebound above its 50 DMA line ($56.16) line is needed for its outlook to improve,
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line After Wedging to New High - 7/19/2024 |
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Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$128.05
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+1.32
1.04% |
$129.53
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3,093,983
82.26% of 50 DAV
50 DAV is 3,761,000
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$148.15
-13.57%
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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 |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$67.85
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-0.98
-1.42% |
$69.30
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714,680
105.57% of 50 DAV
50 DAV is 677,000
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$68.91
-1.54%
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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 - 7/26/2024 6:45:10 PM
G - Posted another gain backed by above-average volume rallying further above its "max buy" level to another new all-time high. Prior highs in the $64 area define initial support to watch above its 50 DMA line ($62.43).
>>> 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 |
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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 |
DDOG
-
NASDAQ
Datadog Inc
Computer Sftwr-Enterprse
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$117.92
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-0.39
-0.33% |
$119.95
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2,165,116
59.36% of 50 DAV
50 DAV is 3,647,600
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$138.61
-14.93%
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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 |
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C
A
S
I |
MMYT
-
NASDAQ
MakeMyTrip
Leisure-Travel Booking
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$92.25
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+0.01
0.01% |
$95.05
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670,159
84.40% of 50 DAV
50 DAV is 794,000
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$100.22
-7.95%
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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 - 7/26/2024 6:46:38 PM
Y - Posted a gain today with below average volume. 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.
>>> FEATURED STOCK ARTICLE : Volume Driven Trip to New Highs - 7/23/2024 |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$172.44
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+3.06
1.81% |
$174.02
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716,678
88.04% of 50 DAV
50 DAV is 814,000
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$175.72
-1.87%
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7/26/2024
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$173.08
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PP = $175.82
|
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MB = $184.61
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Most Recent Note - 7/26/2024 6:41:58 PM
Y - Encountered distributional pressure after highlighted in yellow with pivot point cited based on its 6/28/24 high plus 10 cents in the earlier mid-day report. Gapped up rebounding from below its 50 DMA line and back within close striking distance of its all-time high. Subsequent gains and a close above the pivot point backed by at least +40% above average volume may trigger a proper technical buy signal. Reported Jun '24 quarterly earnings +47% on +15% sales revenues versus the year-ago period. Sequential quarterly comparisons show impressive earnings growth rate acceleration. Annual earnings growth has been strong since a downturn in FY '20. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure When Poised to Break Out - 7/26/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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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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