FACTBASEDINVESTING.COM - AFTER MARKET UPDATE - Wednesday, August 7th, 2024

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AFTER MARKET UPDATE - WEDNESDAY, AUGUST 7TH, 2024

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Indices				NYSE			Nasdaq
DOW	-234.21	38,763.45	-0.60%	Volume	1,078,332,279	-3%	Volume	6,027,930,900	+0%
NASDAQ	-171.05	16,195.81	-1.05%	Advancers	1,141	42%	Advancers	1,425	34%
S&P 500	-40.53	5,199.50	-0.77%	Decliners	1,603	58%	Decliners	2,805	66%
Russell 2000	-29.19	2,035.11	-1.41%	52 Wk Highs	98		52 Wk Highs	50
S&P 600	-14.64	1,308.46	-1.11%	52 Wk Lows	58		52 Wk Lows	192

TODAY'S SPECIAL NOTICE

Weak action has been noted as a more worrisome market correction (M criteria). Disciplined investors know to avoid new buying efforts during market corrections and to reduce exposure by selling any weakening stocks on a case-by-case basis.

Major Indices Erased Early Gains to End Session Lower
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Gains quickly faded Wednesday and the major indices ultimately settled with declines. The S&P 500, which was trading up as much as +1.7% at its high, closed -0.8% lower. Volume reported was lighter than the prior session total on the NYSE and near the prior total on the Nasdaq exchange. Decliners led advancers by a 4-3 margin on the NYSE and by a 2-1 margin on the Nasdaq exchange. There were 17 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 13 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows outnumbered new 52-week highs on the Nasdaq exchange. The major indices are in a market correction (M criteria). Disciplined investors know that in corrections it is wise to reduce market exposure by selling any weakening stocks on a case-by-case basis.

Chart courtesy of www.stockcharts.com

PICTURED: The S&P 600 Small Cap Index met resistance at its 50-day moving average (DMA) line and suffered another damaging volume-driven loss. The recent deterioration raised greater concerns for the broader market outlook.

The concerns about further unwinding of carry trade positions dissipated after the Bank of Japan's Deputy Governor Uchida said the bank will not raise rates during market instability. The yen weakened against the dollar (USD/JPY +1.9% to 147.10).

Dow components Amgen (AMGN -5.0%) and Walt Disney (DIS -4.5%) underperformed after reporting earnings. Walt Disney's streaming business generated positive operating income for the first time, but demand is weakening for its theme parks. Airbnb (ABNB -13.4%) was an influential laggard after it reported slowing demand from U.S. guests.

The utilities (+0.6%) and energy (+0.5%) sectors led gainers while seven of the S&P 500 sectors closed lower and four of them declined more than -1.0%. The consumer discretionary (-1.4%) and information technology (-1.4%) sectors were among the worst performers.

A fresh $42 billion 10-yr note auction was poorly received. The 10-yr note yield settled eight basis points higher at 3.97% and the 2-yr note yield settled two basis points higher at 4.00%.

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.

Semiconductor and Gold & Silver Indexes Were Big Decliners
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -0.01%) finished flat while the Bank Index ($BKX -0.49%) and the Retail Index ($RLX -0.61%) edged lower. The tech sector had a negative bias and was led lower by the Semiconductor Index ($SOX -3.09%) while the Networking Index ($NWX -0.81%) and the Biotech Index ($BTK -0.88%) both suffered smaller losses. The Gold & Silver Index ($XAU -3.00%) outpaced the Oil Services Index ($OSX -0.76%) to the downside.

Chart courtesy of www.stockcharts.com

PICTURED: The Integrated Oil Index ($XOI +0.44%) was a standout as it posted a 2nd consecutive small gain. It halted its slide after slumping well below its 200-day moving average (DMA) line and undercutting the prior low with 3 consecutive big losses.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	80.54	-0.61	-0.75%	-3.99%
Integrated Oil	$XOI	1,936.64	+8.51	+0.44%	+3.98%
Semiconductor	$SOX	4,426.27	-141.30	-3.09%	+6.01%
Networking	$NWX	869.04	-7.12	-0.81%	+4.35%
Broker/Dealer	$XBD	611.86	-0.06	-0.01%	+9.79%
Retail	$RLX	4,100.03	-25.06	-0.61%	+5.43%
Gold & Silver	$XAU	137.92	-4.26	-3.00%	+9.73%
Bank	$BKX	104.25	-0.48	-0.46%	+8.57%
Biotech	$BTK	5,530.74	-48.86	-0.88%	+2.07%

Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

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
USLM - NASDAQ U.S. Lime & Minerals Bldg-Cement/Concrt/Ag	$69.25	-3.59 -4.93%	$71.99	174,674 171.25% of 50 DAV 50 DAV is 102,000	$87.13 -20.52%	6/18/2024	$71.26	PP = $75.77
								MB = $79.56
Most Recent Note - 8/7/2024 12:43:33 PM G - Sinking further below its 50 DMA line ($73.63) with today's 5th consecutive loss raising greater concerns. A rebound above the 50 DMA line is needed for its outlook to improve. >>> 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
GVA - NYSE Granite Construction Bldg-Heavy Construction	$68.16	-0.79 -1.15%	$69.82	573,164 76.93% of 50 DAV 50 DAV is 745,000	$73.01 -6.64%	6/11/2024	$59.76	PP = $64.33
								MB = $67.55
Most Recent Note - 8/5/2024 8:48:58 PM G - Pulled back today yet finished near the session high with just a small loss backed by +20% above average volume. Prior highs in the $64 area define initial support to watch above its 50 DMA line ($63.20). >>> FEATURED STOCK ARTICLE : Hit New High While Making Steady Progress - 7/31/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
MMYT - NASDAQ MakeMyTrip Leisure-Travel Booking	$88.59	-0.32 -0.36%	$92.68	692,496 93.96% of 50 DAV 50 DAV is 737,000	$100.22 -11.60%	7/23/2024	$96.92	PP = $93.39
								MB = $98.06
Most Recent Note - 8/6/2024 6:05:15 PM Y - Posted a gain today with lighter volume while finding prompt support near its 50 DMA line ($84.45). More damaging losses would raise greater concerns. >>> 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
TXRH - NASDAQ Texas Roadhouse Retail-Restaurants	$164.73	-1.77 -1.06%	$168.55	498,906 58.49% of 50 DAV 50 DAV is 853,000	$177.72 -7.31%	7/26/2024	$173.08	PP = $175.82
								MB = $184.61
Most Recent Note - 8/6/2024 6:06:36 PM G - Posted a gain today with lighter volume after damaging losses with higher volume raised concerns. A rebound above the 50 DMA line ($170) is needed for its outlook to improve. >>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure When Poised to Break Out - 7/26/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
HWM - NYSE Howmet Aerospace Aerospace/Defense	$87.92	-1.16 -1.30%	$90.82	2,289,913 73.49% of 50 DAV 50 DAV is 3,116,000	$97.29 -9.63%	7/30/2024	$93.95	PP = $85.52
								MB = $89.80
Most Recent Note - 8/5/2024 8:50:26 PM Y - Pulled back today for a 3rd volume-driven loss testing prior highs in the $85 area which define initial support to watch above its 50 DMA line ($82.17). >>> FEATURED STOCK ARTICLE : Breakaway Gap For Howmet Aerospace - 7/30/2024 \| 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
								Max Buy
MELI - NASDAQ MercadoLibre Retail-Internet	$1,859.70	+49.31 2.72%	$1,878.38	534,901 166.64% of 50 DAV 50 DAV is 321,000	$1,850.00 0.52%	8/5/2024	$1,793.73	PP = $1,792.15
								MB = $1,881.76
Most Recent Note - 8/7/2024 12:45:45 PM Y - Hitting a new 52-week high with today's 2nd consecutive gain backed by above average volume. See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : Finished Flat When Poised to Breakout - 8/5/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I

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