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AFTER MARKET UPDATE - WEDNESDAY, AUGUST 17TH, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
+21.92 |
18,573.94 |
+0.12% |
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Volume |
765,692,620 |
+5% |
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Volume |
1,605,525,940 |
+4% |
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NASDAQ |
+1.55 |
5,228.66 |
+0.03% |
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Advancers |
1,553 |
52% |
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Advancers |
1,173 |
41% |
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S&P 500 |
+4.07 |
2,182.22 |
+0.19% |
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Decliners |
1,419 |
48% |
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Decliners |
1,718 |
59% |
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Russell 2000 |
-3.45 |
1,227.68 |
-0.28% |
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52 Wk Highs |
83 |
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52 Wk Highs |
72 |
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S&P 600 |
-1.83 |
743.88 |
-0.25% |
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52 Wk Lows |
12 |
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52 Wk Lows |
27 |
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Major Indices Pared Early Losses and Posted Small Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished modestly higher on Wednesday. The Dow was up 21 points to 18573. The S&P 500 added 4 points to 2182 and the Nasdaq Composite gained 1 point to 5228. The volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange. Decliners led advancers by 4-3 on the Nasdaq exchange while advancers had a slight lead on decliners on the NYSE. There were 23 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 21 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 is consolidating near its record high after rallying above its 2015 peak.
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). See the Featured Stocks Pagewhich now lists a few noteworthy candidates that have made headway. The major averages pared early losses while U.S. Treasuries advanced after the Fed released the minutes from its July FOMC meeting. The release showed that Fed officials were divided over the timing of an interest rate increase. Rate expectations dropped after the news with futures currently pricing in a 47% probability of a 2016 rate hike according to Bloomberg data. As recently as Wednesday morning, those odds were at 51%. Seven of 10 sectors in the S&P 500 finished in positive territory. In earnings, Urban Outfitters (URBN +15.4%) rose after its quarterly revenue was above Wall Street consensus. Valeant Pharmaceuticals (VRX +12.8%) rallied after being the subject of positive analyst commentary. Consumer Discretionary shares were notable decliners on the session. Shares of Target (TGT -6.4%) sank after the retailer lowered its comparable sales forecast for the end of 2016. Lowe’s Co (LOW -5.7%) fell as the home improvement retailer’s profit fell short of estimates. Staples (SPLS -7.1%) dropped with reported sales falling for the 14th consecutive quarter. Treasuries advanced with the benchmark 10-year note up 4/32 to yield 1.55%. In commodities, NYMEX WTI crude gained 0.6% to $46.86/barrel. COMEX gold lost 0.6% to $1342.70/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy and Bank Index Rose While Retail and Tech Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +0.21%) posted a small gain and the Broker/Dealer Index ($XBD -0.09%) finished flat while the Retail Index ($RLX -0.58%) finished lower on Wednesday. The tech sector was mostly lower while the Networking Index ($NWX -0.87%) and the Biotechnology Index ($BTK -0.24%) both edged lower and the Semiconductor Index ($SOX +0.00%) ended the session unchanged. The Oil Services Index ($OSX +0.14%) and the Integrated Oil Index ($XOI +0.44%) ended slightly higher, but the Gold & Silver Index ($XAU -0.57%) ended slightly lower. Charts courtesy www.stockcharts.com
PICTURED: The 2-year chart of the Networking Index ($NWX -0.87%) shows it recently challenging its prior highs.
| Oil Services |
$OSX |
163.66 |
-0.40 |
-0.24% |
+3.76% |
| Integrated Oil |
$XOI |
1,148.10 |
+1.82 |
+0.16% |
+7.03% |
| Semiconductor |
$SOX |
784.61 |
+0.00 |
+0.00% |
+18.26% |
| Networking |
$NWX |
390.88 |
-3.44 |
-0.87% |
+3.98% |
| Broker/Dealer |
$XBD |
166.45 |
-0.15 |
-0.09% |
-6.54% |
| Retail |
$RLX |
1,360.34 |
-7.93 |
-0.58% |
+5.99% |
| Gold & Silver |
$XAU |
109.24 |
-1.59 |
-1.43% |
+141.15% |
| Bank |
$BKX |
70.05 |
+0.15 |
+0.21% |
-4.15% |
| Biotech |
$BTK |
3,332.42 |
-7.98 |
-0.24% |
-12.63% |
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Volume-Driven Gains for New Highs Signal Institutional Demand
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
China Lodging Group Ads (HTHT +$1.75 or +4.18% to $43.66) rallied to new highs with another big volume-driven gain today and its color code was changed to green after again rallying above its "max buy" level.
HTHT was last shown in this FSU section on 7/13/16 with an annotated graph under the headline, "Negative Reversal After Touching New High". It had reversed into the red after touching a new 52-week high (N criteria). Members were cautioned - "Gains for new highs and a strong close backed by at least +40% above average volume may help clinch a convincing technical buy signal." A volume-driven gain on 7/15/16 triggered a technical buy signal, but it sputtered back near prior highs and its 50-day moving average line before any further signs of heavy institutional buying demand showed up.
Recently it reported earnings +71% on +6% sales revenues for the Jun '16 quarter, continuing its strong earnings track record of increases greater than +25% versus the year-ago periods. The number of top-rated funds owing its shares rose from 87 in Sep '15 to 123 in Jun '16, a reassuring sign concerning the I criteria. Currently the high-ranked Leisure- Lodging firm has an A Timeliness rating but a D Sponsorship rating. Its small supply of 26.2 million shares (S criteria) in the public float may contribute to greater price volatility in the event of institutional buying or selling.
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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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$283.93
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+0.31
0.11% |
$284.44
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214,005
47.14% of 50 DAV
50 DAV is 454,000
|
$289.67
-1.98%
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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 - 8/16/2016 7:40:00 PM
G - Volume has remained below average while recently hovering near all-time highs. Its 50 DMA line and prior highs near $268 define important near-term support to watch on pullbacks.
>>> 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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$14.46
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-0.24
-1.63% |
$14.66
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57,582
59.98% of 50 DAV
50 DAV is 96,000
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$16.77
-13.77%
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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 - 8/16/2016 7:43:29 PM
Y - Found support above its 50 DMA line ($13.98). It negated the recent breakout by slumping back into the prior base raising concerns. Prior lows (13.50) define near-term support.
>>> 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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$213.33
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+0.13
0.06% |
$215.49
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1,113,209
100.20% of 50 DAV
50 DAV is 1,111,000
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$217.37
-1.86%
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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 - 8/16/2016 1:31:51 PM
G - Hitting another new high with today's 5th consecutive gain on ever-increasing volume. Disciplined investors avoid chasing stocks more than +5% above the prior high or pivot point. Prior highs near $186 and its 50 DMA line define important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Perched +5% Above Prior Highs Following Volume-Driven Gains - 7/15/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$43.66
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+1.75
4.18% |
$45.70
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677,784
338.89% of 50 DAV
50 DAV is 200,000
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$43.77
-0.25%
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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 - 8/17/2016 5:25:01 PM
G - Hit new highs with considerable volume-driven gains indicative of fresh institutional buying demand. Color code was changed to green after again rallying above its "max buy" level. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gains for New Highs Signal Institutional Demand - 8/17/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
MXL
-
NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure
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$18.15
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-0.45
-2.42% |
$18.60
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1,392,635
105.34% of 50 DAV
50 DAV is 1,322,000
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$22.50
-19.33%
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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 - 8/15/2016 10:18:58 PM
G - Posted a 4th consecutive gain today since finding support at its 200 DMA line ($17.43). More damaging losses would raise greater concerns.
>>> 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 |
Chart |
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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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$63.09
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+3.56
5.98% |
$64.39
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912,610
600.40% of 50 DAV
50 DAV is 152,000
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$69.53
-9.26%
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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 - 8/17/2016 12:41:15 PM
G - Gapped up today following an analyst upgrade, finding prompt support after slumping below its 50 DMA line on the prior session. Subsequent deterioration below the 50 DMA line and prior session low ($59.51) would raise greater concerns and trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Rallied +30% in 2 Months Since Breakout Was Featured - 7/28/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
FBHS
-
NYSE
Fortune Brands Hme & Sec
Bldg-Constr Prds/Misc
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$62.45
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-0.51
-0.81% |
$62.85
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1,325,030
67.23% of 50 DAV
50 DAV is 1,971,000
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$64.47
-3.13%
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6/22/2016
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$57.71
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PP = $60.08
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MB = $63.08
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Most Recent Note - 8/15/2016 10:20:56 PM
G - Volume totals have been cooling while stubbornly holding its ground in a tight range above its "max buy" level and near all-time highs. Rallied for new highs on 7/28/16 with +66% above average volume following strong earnings news.
>>> FEATURED STOCK ARTICLE : Perched Above "Max Buy" Level Following Volume-Driven Gain - 8/1/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
NVEE
-
NASDAQ
N V 5 Global Inc
Comml Svcs-Consulting
|
$34.34
|
-0.85
-2.42% |
$35.32
|
99,299
115.46% of 50 DAV
50 DAV is 86,000
|
$37.00
-7.19%
|
4/19/2016
|
$28.20
|
PP = $28.10
|
|
MB = $29.51
|
Most Recent Note - 8/17/2016 12:38:03 PM
G - Perched near all-time highs after recently wedging higher. Its 50 DMA line and prior highs in the $30 coincide defining important near-term support. Reported earnings +23% on +62% sales revenues, below the +25% minimum earnings guideline (C criteria), raising concerns.
>>> FEATURED STOCK ARTICLE : Winning Streak Leaves Leader Extended From Prior Base Pattern - 7/18/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
SFBS
-
NASDAQ
"ServisFirst Bancshares, Inc"
BANKING - Regional - Southeast Banks
|
$51.12
|
+0.21
0.41% |
$51.54
|
41,113
42.43% of 50 DAV
50 DAV is 96,900
|
$53.58
-4.59%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
|
Most Recent Note - 8/17/2016 5:27:33 PM
Y - Still quietly sputtering above its 50 DMA line ($50.11). members were previously reminded - "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 |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$56.12
|
-0.59
-1.04% |
$57.44
|
208,559
90.68% of 50 DAV
50 DAV is 230,000
|
$58.78
-4.53%
|
8/5/2016
|
$51.72
|
PP = $56.08
|
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MB = $58.88
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Most Recent Note - 8/16/2016 7:42:07 PM
Y - Fell today and finished near the session low with above average volume indicative of distributional pressure. Stalled after its 8/09/16 volume-driven gain triggered a technical buy signal.
>>> FEATURED STOCK ARTICLE : Perched Within Striking Distance of Highs Following Rebound - 8/5/2016 |
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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 |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$26.98
|
+0.12
0.45% |
$27.16
|
332,072
35.90% of 50 DAV
50 DAV is 925,000
|
$28.72
-6.06%
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7/19/2016
|
$26.42
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PP = $28.82
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MB = $30.26
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Most Recent Note - 8/15/2016 10:21:57 PM
Y - Perched within close striking distance of all-time highs. Volume-driven gains above the pivot point are still needed to trigger a convincing technical buy signal.
>>> FEATURED STOCK ARTICLE : Retail Firm Approaching Pivot Point - 7/19/2016 |
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Set NEW NOTE alert |
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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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