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AFTER MARKET UPDATE - MONDAY, AUGUST 1ST, 2016
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DOW |
-27.73 |
18,404.51 |
-0.15% |
|
Volume |
829,789,070 |
-29% |
|
Volume |
1,711,749,790 |
-8% |
|
NASDAQ |
+22.07 |
5,184.20 |
+0.43% |
|
Advancers |
1,217 |
41% |
|
Advancers |
1,426 |
49% |
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S&P 500 |
-2.76 |
2,170.84 |
-0.13% |
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Decliners |
1,755 |
59% |
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Decliners |
1,454 |
50% |
|
Russell 2000 |
-0.82 |
1,219.12 |
-0.07% |
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52 Wk Highs |
349 |
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|
52 Wk Highs |
148 |
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S&P 600 |
-0.70 |
743.28 |
-0.09% |
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52 Wk Lows |
20 |
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52 Wk Lows |
27 |
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Indices Were Mixed With Lighter Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished mixed on Monday. The Dow lost 27 points to 18404. The S&P 500 slipped 2 points to 2170. The Nasdaq climbed 22 points to 5184. 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 lighter than the prior session on the NYSE and on the Nasdaq exchange. Decliners led advancers by a 3-2 margin on the NYSE while the mix was even on the Nasdaq exchange. There were 60 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 65 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 suffered a 6th consecutive small loss while consolidating near record highs.
The major averages fluctuated during the first trading day of August. Gains in Technology and Health Care were countered by widespread weakness in the Energy sector. Apple (AAPL +1.77%) posted a gain. Biogen (BIIB +4.10%) rose following positive trial results for its joint venture muscle drug treatment. Shares of Exxon (XOM -3.47%) fell in sympathy with a decline in oil prices. Diamond Offshore (DO -7.66%) fell on its cautious outlook for the drilling industry after posting quarterly results above consensus estimates. On the economic front, the Institute for Supply Management said U.S. manufacturing activity expanded by less than projected in July with a reading of 52.6. A separate release revealed construction spending unexpectedly fell 0.6% in June, compared to a forecasted 0.5% gain. In M&A news, Tesla (TSLA -2.04%) reached an agreement to buy Solar City (SCTY -7.42%) for $2.6 billion while GPS tracking company Fleetmatics (FLTX +38.71%) accepted a $2.4 billion offer from Verizon Communications (VZ -1.64%). Treasuries lost ground with the Benchmark 10-year off 15/32 to yield 1.50%. In commodities, NYMEX WTI crude dropped another 3.9% to $39.38/barrel. COMEX gold added 0.2% at $1352.20/ounce. In FOREX, the Dollar Index gained 0.2% with particular strength against the yen. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Biotech, and Gold & Silver Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.21%) posted a solid gain but the Broker/Dealer Index ($XBD -0.78%) and the Bank Index ($BKX -0.82%) both weighed on the major averages on Monday. The Biotechnology Index ($BTK +2.43%) led the tech sector but the Networking Index ($NWX +0.05%) and the Semiconductor Index ($SOX +0.16%) each barely inched higher. Commodity-linked groups were mixed as the Integrated Oil Index ($XOI -3.17%) and the Oil Services Index ($OSX -3.11%) both tumbled while the Gold & Silver Index ($XAU +1.21%) posted a solid gain. Charts courtesy www.stockcharts.com
PICTURED: The Oil Services Index ($OSX -3.11%) is sputtering below its 50-day and 200-day moving average (DMA) lines near its May lows.
| Oil Services |
$OSX |
155.83 |
-5.01 |
-3.11% |
-1.20% |
| Integrated Oil |
$XOI |
1,080.67 |
-35.34 |
-3.17% |
+0.74% |
| Semiconductor |
$SOX |
768.02 |
+1.24 |
+0.16% |
+15.76% |
| Networking |
$NWX |
380.08 |
+0.19 |
+0.05% |
+1.10% |
| Broker/Dealer |
$XBD |
162.03 |
-1.28 |
-0.78% |
-9.02% |
| Retail |
$RLX |
1,373.62 |
+6.40 |
+0.47% |
+7.02% |
| Gold & Silver |
$XAU |
111.61 |
+1.33 |
+1.21% |
+146.38% |
| Bank |
$BKX |
67.44 |
-0.56 |
-0.82% |
-7.72% |
| Biotech |
$BTK |
3,471.17 |
+82.24 |
+2.43% |
-8.99% |
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Perched Above "Max Buy" Level Following Volume-Driven Gain
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Fortune Brands Home & Security Inc (FBHS +$0.33 or +0.52% to $63.60) is consolidating just above its "max buy" level. Volume was +66% above average on 7/28/16 triggering a technical buy signal while hitting new highs after gapping up. Disciplined investors avoid chasing stocks more than +5% above prior highs.
It reported earnings +39% on +11% sales revenues for the Jun '16 quarter. The high-ranked Building - Construction Products firm showed encouraging earnings acceleration in sequential quarters, up +16%, +23%, +27% and +39% in the Jun, Sep, Dec '15 and Mar '16 quarters, respectively. The larger than +25% increases (C criteria) helped it better match with the fact-based investment system's fundamental guidelines.
FBHS currently has a Timeliness Rating of A and a Sponsorship Rating of B. It was first highlighted in yellow with pivot point cited based on its 4/21/16 high plus 10 cents. It was last shown in this FSU section on 7/11/16 with an annotated graph under the headline, "New Highs Lack Important Institutional Volume Punch". The number of top-rated funds owning its shares rose from 805 in Sep '15 to 933 in Jun '16, 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 Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services
|
$279.02
|
-0.50
-0.18% |
$280.19
|
520,838
70.57% of 50 DAV
50 DAV is 738,000
|
$280.28
-0.45%
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5/11/2016
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$248.33
|
PP = $245.00
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MB = $257.25
|
Most Recent Note - 8/1/2016 6:04:02 PM
G - Volume was below average while recently wedging into new all-time high territory. Its 50 DMA line ($264.91) defines important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Gains Lack Great Volume While Wedging to New Highs - 7/27/2016 |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
|
$14.21
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-1.34
-8.62% |
$15.55
|
146,178
164.24% of 50 DAV
50 DAV is 89,000
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$16.77
-15.27%
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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 - 8/1/2016 1:37:02 PM
G - Considerable loss today with higher volume raising concerns and its color code is change to green while slumping back into the prior base. Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price. Testing its 50 DMA line ($13.94).
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain for New Highs Clinched Technical Buy Signal - 7/26/2016 |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$202.71
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-1.56
-0.76% |
$204.25
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1,079,575
82.54% of 50 DAV
50 DAV is 1,308,000
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$210.27
-3.59%
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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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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
|
$38.19
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-0.24
-0.62% |
$38.97
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151,867
70.64% of 50 DAV
50 DAV is 215,000
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$41.76
-8.55%
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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 - 8/1/2016 6:00:44 PM
Y - Quietly sputtering back into its prior base raising concerns. Stalled after 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 |
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C
A
S
I |
MXL
-
NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure
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$22.04
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+0.23
1.05% |
$22.07
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827,270
82.07% of 50 DAV
50 DAV is 1,008,000
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$22.50
-2.04%
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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 |
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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
|
$66.43
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+1.87
2.90% |
$66.55
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191,777
124.53% of 50 DAV
50 DAV is 154,000
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$69.53
-4.46%
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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 - 7/28/2016 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 |
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C
A
S
I |
FBHS
-
NYSE
Fortune Brands Hme & Sec
Bldg-Constr Prds/Misc
|
$63.60
|
+0.33
0.52% |
$63.69
|
1,026,393
54.80% of 50 DAV
50 DAV is 1,873,000
|
$64.47
-1.35%
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6/22/2016
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$57.71
|
PP = $60.08
|
|
MB = $63.08
|
Most Recent Note - 8/1/2016 5:58:46 PM
G - Consolidating above its "max buy" level and its color code is changed to green. Rallied for new highs with +66% above average volume following strong earnings news. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Above "Max Buy" Level Following Volume-Driven Gain - 8/1/2016 |
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C
A
S
I |
NVEE
-
NASDAQ
N V 5 Global Inc
Comml Svcs-Consulting
|
$32.99
|
+0.82
2.55% |
$33.08
|
86,371
85.52% of 50 DAV
50 DAV is 101,000
|
$33.14
-0.45%
|
4/19/2016
|
$28.20
|
PP = $28.10
|
|
MB = $29.51
|
Most Recent Note - 8/1/2016 1:39:42 PM
G - Challenging its 52-week high with today's gain. Volume totals have been below average while holding its ground near all-time highs. Its 50 DMA line ($28.79) 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
|
$50.10
|
-0.53
-1.05% |
$50.99
|
58,421
53.11% of 50 DAV
50 DAV is 110,000
|
$53.58
-6.49%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
|
Most Recent Note - 8/1/2016 6:02:36 PM
Y - Quietly slumped below its 50 DMA line ($50.23) today. A volume-driven gain and strong close above the pivot point are needed to 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
|
$27.20
|
+1.06
4.06% |
$27.37
|
1,654,264
174.50% of 50 DAV
50 DAV is 948,000
|
$28.72
-5.29%
|
7/19/2016
|
$26.42
|
PP = $28.82
|
|
MB = $30.26
|
Most Recent Note - 8/1/2016 1:42:11 PM
Y - Rallying above recent highs with today's volume-driven gain. Volume-driven gains above the pivot point are needed to trigger a convincing 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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