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AFTER MARKET UPDATE - MONDAY, AUGUST 24TH, 2015
Previous After Market Report Next After Market Report >>>
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DOW |
-588.40 |
15,871.35 |
-3.57% |
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Volume |
1,611,034,780 |
+24% |
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Volume |
3,208,414,000 |
+26% |
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NASDAQ |
-179.79 |
4,526.25 |
-3.82% |
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Advancers |
136 |
4% |
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Advancers |
289 |
9% |
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S&P 500 |
-77.68 |
1,893.21 |
-3.94% |
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Decliners |
3,079 |
96% |
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Decliners |
2,840 |
91% |
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Russell 2000 |
-45.10 |
1,111.69 |
-3.90% |
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52 Wk Highs |
7 |
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52 Wk Highs |
12 |
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S&P 600 |
-25.87 |
651.04 |
-3.82% |
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52 Wk Lows |
1,322 |
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52 Wk Lows |
765 |
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Breadth Was Extremely Negative and Volume Swelled Behind Big Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
After a volatile session stocks ended lower on Monday. The Dow fell 588 points, or 3.6%, to 15871. The S&P 500 declined 77 points, or 3.9%, to 1893. The NASDAQ retreated 179 points, or 3.8%, to 4526. Technical damage in the charts of the major averages (M criteria) coupled with an evaporation of leadership has clearly earned the label of a market "correction". Monday's volume totals were reported higher than the prior session on the NYSE and on the Nasdaq exchange, a worrisome sign of increasing selling pressure coming from the institutional crowd. Breadth was solidly negative as decliners led advancers by nearly 10-1 on the Nasdaq exchange and by a 22-1 margin on the NYSE. Leadership has completely evaporated, as for a second consecutive session there were zero high-ranked companies from the Leaders List that made new 52-week highs and appeared on the BreakOuts Page, down considerably from 107 back on July 16th. There were losses for all of the high-ranked companies currently on the Featured Stocks Page, a list getting trimmed as recent action dictates. The number of new 52-week lows expanded considerably and solidly outnumbered new 52-week highs on both the Nasdaq and on the NYSE.
PICTURED: The Nasdaq Composite Index has seen volume totals spike considerably higher behind damaging losses after violating its 200-day moving average (DMA) line. The abrupt declines have the tech-heavy index quickly retreating toward its October 2014 lows.
The market correction (M criteria) grew more worrisome on Monday as the Dow Jones Industrial Average undercut its October 2014 low while all of the major indices dove further below their respective 200-day moving average (DMA) lines. Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price. This is precisely how the fact-based investment system prompts investors to reduce exposure in weak markets, preserving cash until another confirmed rally marked by solid leadership.
The major averages tumbled lower, following international weakness overnight. China’s Shanghai Composite fell 8.5%, stoking fears of a global slowdown. All 10 S&P 500 sectors were at least 3.1% lower on the session. Energy and financials led the way. In sympathy with oil prices, Exxon Mobil (XOM -4.73%) and Chevron (CVX -4.80%). Financials slumped lower on a diminished growth outlook and prospects of rate hike delays. JP Morgan (JPM -5.27%) and Citigroup (C -6.08%). Materials were also notable underperformers as Freeport McMoRan (FCX -9.39%) fell hard. After losing as much as 13%, Apple (AAPL -2.50%) managed to trim losses.
Turning to volatility, the Chicago Board of Options Exchange Volatility Index rose 44% to 40.42, paring readings of a 90% jump earlier in the morning. Last week, the gauge jumped 118% to 28.03.
Treasuries benefitted from a flight to perceived safety. The benchmark 10-year note advanced 6/32 to yield 2.01%.
Commodities were broadly lower. WTI crude slid 5.3% to $38.31/barrel, as over-supply concerns combined with lowered demand concerns. On the COMEX, gold lost 0.5% to $1153.40/ounce, and copper slumped 2.4% to $2.24/lb. In FOREX, the dollar ebbed 1.8% to $1.1591/EUR and weakened 2.8% against the yen to ¥118.66/USD.
The number of stocks currently listed to the Featured Stocks Page has waned based on deteriorating market conditions. The most current notes with headline links help members have access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Widespread Losses Punished All Groups
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -4.05%) slumped badly and financial shares were a negative influence on the major averages as the Broker/Dealer Index ($XBD -4.46%) and the Bank Index ($BKX -5.44%) fell hard again on Monday. The tech sector was punished again as the Biotechnology Index ($BTK -5.22%), Networking Index ($NWX -4.27%), and the Semiconductor Index ($SOX -2.08%) suffered unanimous losses. Energy-linked groups were down hard yet again as the Oil Services Index ($OSX -4.94%) and the Integrated Oil Index ($XOI -5.37%) both sank. The Gold & Silver Index ($XAU -7.83%) also tumbled badly.
PICTURED: The Retail Index ($RLX -4.05%) retreated a 4th consecutive session from its record high, suffering considerable losses and abruptly testing its 200-day moving average (DMA) line.
| Oil Services |
$OSX |
155.52 |
-8.08 |
-4.94% |
-26.25% |
| Integrated Oil |
$XOI |
1,043.92 |
-59.26 |
-5.37% |
-22.57% |
| Semiconductor |
$SOX |
566.58 |
-12.01 |
-2.08% |
-17.51% |
| Networking |
$NWX |
353.02 |
-15.75 |
-4.27% |
-1.37% |
| Broker/Dealer |
$XBD |
167.82 |
-7.84 |
-4.46% |
-9.11% |
| Retail |
$RLX |
1,129.05 |
-47.68 |
-4.05% |
+9.33% |
| Gold & Silver |
$XAU |
48.09 |
-4.08 |
-7.82% |
-30.08% |
| Bank |
$BKX |
69.02 |
-3.97 |
-5.44% |
-7.06% |
| Biotech |
$BTK |
3,569.09 |
-196.69 |
-5.22% |
+3.78% |
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Technical Weakness Trumps Strong Fundamentals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Acadia Healthcare Inc (ACHC -$3.97 or -5.39% to $69.71) rebounded after slumping well below its 200-day moving average (DMA) line today. It found support and finished the session above that important long-term average. On the 2 prior sessions it was noted after triggering worrisome technical sell signals. Widespread market weakness (M criteria) is cause for concern and it will be dropped from the Featured Stocks list tonight. A subsequent rebound above the 50 DMA line is needed for its outlook to improve.
ACHC was last shown in this FSU section on 8/04/15 with an annotated graphs under the headline, "Pullback Followed Another Strong Quarter Reported With Acceleration". It reported earnings +78% on +112% sales revenues for the Jun '15 quarter, extending its streak of strong quarterly comparisons with accelerating sales revenues and earnings increases well above the +25% minimum guideline (C criteria). Strong fundamentals can be reassuring when broader market weakness is hurting other stocks, but solid fundamentals are never a reason to ignore treacherous technical price/volume action in any individual issue.
On 6/19/15 its strong gain was backed by +97% above average volume as it rallied above the pivot point cited and triggered a technical buy signal. It has a small supply of only 49.4 million shares (S criteria) in the public float. Leadership in the Medical / Outpatient/Home Care industry group is a reassuring sign (L criteria) as the group has earned an 95 Group Relative Strength Rating. The number of top-rated funds owning its shares rose from 364 on Jun '14 to 479 in Jun '15, a reassuring sign concerning the I criteria. It completed a new Public Offering on 5/05/15, and such offerings typically hinder a stock's progress for the short-term, however, the upshot is that the underwriters help companies attract greater interest from the institutional crowd.
It reported earnings increases of +23%, +53%, +59%, and +54% in the Jun, Sep, Dec '14 and Mar '15 quarters, respectively. Having 3 or 4 quarterly comparisons with increases above the +25% minimum guideline satisfied the C criteria. Sales revenues increases during that span were also up +20%, +59%, +55%, and +82%, showing encouraging acceleration. Since tallying a loss in FY '11 its annual earnings (A criteria) have been strong.
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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 |
BOFI
-
NASDAQ
B O F I Holding Inc
BANKING - Savings andamp; Loans
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$120.06
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-3.93
-3.17% |
$123.74
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593,706
248.41% of 50 DAV
50 DAV is 239,000
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$134.79
-10.93%
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6/10/2015
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$101.47
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PP = $97.78
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MB = $102.67
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Most Recent Note - 8/24/2015 1:07:36 PM
G - Tested 50 DMA line today then found prompt support, pulling back with higher volume amid widespread market weakness (M criteria).
>>> FEATURED STOCK ARTICLE : Hovering Near Highs Very Extended From Sound Base - 8/20/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
AHS
-
NYSE
A M N Healthcare Svcs
DIVERSIFIED SERVICES - Staffing and Outsourcing Service
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$33.05
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-1.07
-3.14% |
$34.01
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1,458,229
212.88% of 50 DAV
50 DAV is 685,000
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$37.25
-11.28%
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8/5/2015
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$34.50
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PP = $32.53
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MB = $34.16
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Most Recent Note - 8/21/2015 12:16:25 PM
G - Gapped down today amid widespread market weakness (M criteria). Undercut its "max buy" level and traded near prior highs in the $32 area defining initial support to watch above its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Gap Up Gain Triggered Technical Buy Signal Following Earnings - 8/5/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
VRX
-
NYSE
Valeant Pharmaceuticals
DRUGS - Drug Manufacturers - Other
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$220.25
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-1.94
-0.87% |
$231.57
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4,582,648
272.13% of 50 DAV
50 DAV is 1,684,000
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$263.81
-16.51%
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7/14/2015
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$236.75
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PP = $246.11
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MB = $258.42
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Most Recent Note - 8/24/2015 7:06:19 PM
Undercut prior lows with damaging volume-driven losses today. Widespread market weakness (M criteria) is cause for concern. Will be dropped from the Featured Stocks list tonight. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Holding Ground Following Latest Technical Breakout - 8/3/2015 |
View all notes |
Set NEW NOTE alert |
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News |
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C
A
S
I |
USNA
-
NYSE
U S A N A Health Science
DRUGS - Drug Related Products
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$141.19
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-11.94
-7.80% |
$149.25
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201,718
151.67% of 50 DAV
50 DAV is 133,000
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$176.88
-20.18%
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8/5/2015
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$157.22
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PP = $145.15
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MB = $152.41
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Most Recent Note - 8/24/2015 6:28:36 PM
Gapped down suffering a 7th consecutive loss and volume was higher today while violating prior highs in the $145 area triggering a technical sell signal. May find support at its 50 DMA line, however, widespread market weakness (M criteria) is cause for concern. Will be dropped from the Featured Stocks list tonight.
>>> FEATURED STOCK ARTICLE : Abrupt Retreat Following Breakout for Stock With Small Supply - 8/6/2015 |
View all notes |
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Company Profile |
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News |
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C
A
S
I |
ACHC
-
NASDAQ
Acadia Healthcare Inc
HEALTH SERVICES - Specialized Health Services
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$69.71
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-3.98
-5.39% |
$72.57
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1,823,367
240.87% of 50 DAV
50 DAV is 757,000
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$85.62
-18.58%
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5/27/2015
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$73.90
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PP = $74.19
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MB = $77.90
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Most Recent Note - 8/24/2015 6:34:56 PM
Rebounded after slumping well below its 200 DMA line today triggering a worrisome technical sell signal. Found support, but widespread market weakness (M criteria) is cause for concern and it will be dropped from the Featured Stocks list tonight. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Technical Weakness Trumps Strong Fundamentals - 8/24/2015 |
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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 |
RH
-
NYSE
Restoration Hardware Hld
RETAIL - Home Furnishing Stores
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$91.61
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-3.36
-3.54% |
$95.19
|
1,523,761
194.36% of 50 DAV
50 DAV is 784,000
|
$105.98
-13.56%
|
7/28/2015
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$102.40
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PP = $102.10
|
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MB = $107.21
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Most Recent Note - 8/24/2015 7:09:38 PM
Damaging losses raised concerns and triggered worrisome technical sell signals as it violated its 200 DMA line. Will be dropped from the Featured Stocks list tonight.
>>> FEATURED STOCK ARTICLE : Slumped Quietly Below 50-Day Moving Average Line - 8/19/2015 |
View all notes |
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C
A
S
I |
ULTA
-
NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other
|
$158.72
|
-3.85
-2.37% |
$163.60
|
2,739,964
413.27% of 50 DAV
50 DAV is 663,000
|
$176.77
-10.21%
|
5/29/2015
|
$155.03
|
PP = $159.95
|
|
MB = $167.95
|
Most Recent Note - 8/24/2015 2:13:43 PM
G - Gapped down today and deeply undercut its 200 DMA line amid broad based market (M criteria) weakness, then rebounded impressively to trade near its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Recent Gains Have Still Lacked Substantial Volume Conviction - 8/13/2015 |
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C
A
S
I |
LXFT
-
NYSE
Luxoft Holding Inc Cl A
Comp Sftwr-Spec Enterprs
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$55.56
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-4.87
-8.06% |
$63.21
|
607,194
230.00% of 50 DAV
50 DAV is 264,000
|
$68.16
-18.49%
|
5/26/2015
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$51.90
|
PP = $57.40
|
|
MB = $60.27
|
Most Recent Note - 8/24/2015 6:23:47 PM
G - Triggered technical sell signals during a streak of 7 consecutive damaging losses. Only a prompt rebound above the 50 DMA line ($60.20)would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Earnings News Often Leads to Greater Volume and Volatility - 8/10/2015 |
View all notes |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$46.66
|
-3.32
-6.64% |
$49.10
|
293,424
109.90% of 50 DAV
50 DAV is 267,000
|
$51.86
-10.03%
|
8/12/2015
|
$49.01
|
PP = $45.85
|
|
MB = $48.14
|
Most Recent Note - 8/24/2015 6:39:38 PM
Y - Pulled back below its "max buy" level and its color code is changed to yellow. Found prompt support after undercutting prior highs near $45 defining support above its 50 DMA line ($44.63). Widespread market weakness (M criteria) is an overriding cause for concern.
>>> FEATURED STOCK ARTICLE : Finished Strong With Volume-Driven Breakout Gain - 8/12/2015 |
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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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