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AFTER MARKET UPDATE - THURSDAY, AUGUST 25TH, 2022
Previous After Market Report Next After Market Report >>>
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DOW |
+322.55 |
33,291.78 |
+0.98% |
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Volume |
729,489,464 |
+0% |
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Volume |
4,266,764,400 |
+10% |
|
NASDAQ |
+207.74 |
12,639.27 |
+1.67% |
|
Advancers |
2,481 |
80% |
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Advancers |
2,895 |
65% |
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S&P 500 |
+58.35 |
4,199.12 |
+1.41% |
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Decliners |
625 |
20% |
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Decliners |
1,528 |
35% |
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Russell 2000 |
+29.35 |
1,964.64 |
+1.52% |
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52 Wk Highs |
43 |
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52 Wk Highs |
53 |
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S&P 600 |
+23.80 |
1,266.00 |
+1.92% |
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52 Wk Lows |
34 |
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52 Wk Lows |
99 |
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Market Rose With Better Leadership and Higher Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 rose 1.4%,with all sectors in positive territory, while the Nasdaq Composite climbed 1.7%. The Dow added 322 points. Still, all three benchmarks remain on track for their first two-week losing streak since mid-June. The volume totals reported were higher than the prior session on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by almost a 4-1 margin on the NYSE and nearly 2-1 on the Nasdaq exchange. There were 20 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 13 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs on the Nasdaq exchange. The market is in a confirmed uptrend (M criteria). Any sustainable rally requires a healthy crop of leading stocks hitting new highs.
Chart courtesy of www.stockcharts.com%20on%20Tuesday.%20Yesterday,%20the%20broad%20benchmark%20eclipsed%20the%204,300%20level%20for%20the%20first%20time%20since%20late%20April.%20The%20Nasdaq%20Composite%20fell%201.3%%20amid%20weakness%20in%20mega-cap%20tech%20shares.%20The%20volume%20totals%20reported%20were%20mixed,%20lighter%20than%20the%20prior%20session%20on%20the%20NYSE%20and%20higher%20on%20the%20Nasdaq%20exchange.%20Decliners%20led%20advancers%20by%20a%204-1%20margin%20on%20the%20NYSE%20ad%20by%20a%203-1%20margin%20on%20the%20Nasdaq%20exchange.%20There%20were%2017%20high-ranked%20companies%20from%20the%20Leaders%20List%20that%20hit%20new%2052-week%20highs%20and%20were%20listed%20on%20the%20BreakOuts%20Page,%20down%20from%20the%20total%20of%2045%20on%20the%20prior%20session.%20New%2052-week%20highs%20outnumbered%20new%2052-week%20lows%20on%20the%20NYSE,%20but%20new%20lows%20outnumbered%20new%20highs%20on%20the%20Nasdaq%20exchange.%20The%20market%20is%20in%20a%20confirmed%20uptrend%20(M%20criteria).%20Any%20sustainable%20rally%20requires%20a%20healthy%20crop%20of%20leading%20stocks%20hitting%20new%20highs,%20so%20the%20recent%20improvement%20in%20leadership%20was%20a%20reassuring%20sign.)  PICTURED: The S&P 600 Small Cap Index posted a solid gain on Thursday. It met resistance again recently at its downward sloping 200-day moving average (DMA) line.
U.S. stocks finished higher Thursday as investors digested mixed economic data and awaited developments from the Federal Reserve’s (Fed) annual Jackson Hole economic symposium. Today, commentary from regional Fed Presidents James Bullard and Esther George stressed the need for front-loaded, aggressive rate hikes to curb inflation. Fed Chair Jerome Powell is scheduled to speak tomorrow morning, and market participants are bracing for hawkish remarks that could reaffirm the need for further rate hikes.
On the data front, a secondary reading of second-quarter Gross Domestic Product (GDP) was revised to show the U.S. economy contracted at a 0.6% annualized pace, a slight improvement from its initial print of -0.9%. The personal consumption component was upwardly revised to reflect an increase of 1.5%. Separately, weekly initial jobless claims came in at 243,000, while an update from the Kansas City Fed revealed manufacturing activity in the region deteriorated in August. Treasuries rallied for the first time in a week, with the yield on the 10-year note down eight basis points (0.08%) to 3.03%.
In earnings, chipmaker NVIDIA Corp. (NVDA +4.01%) rose despite disappointing results that included a downbeat outlook. Peloton Interactive Inc. (PTON -18.32%) fell after posting a quarterly loss and a 30% drop in revenue from a year ago. Elsewhere, Dollar Tree Inc. (DLTR -10.23%) fell after the discount retailer slashed its full-year guidance. The news is also pressuring Dollar General Corp., (DG -0.55%) despite its own positive report.
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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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Retail, Financial, Tech, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Semiconductor Index ($SOX +3.66%) and Networking Index ($NWX +2.87%) both led the tech sector higher with solid gains while the Biotech Index ($BTK +0.34%) posted a smaller gain. The Broker/Dealer Index ($XBD +1.42%), Bank Index ($BKX +1.72%), and Retail Index ($RLX +1.65%) each posted influential gains. Commodity-linked groups had a positive bias as the Oil Services Index ($OSX +1.02%), Integrated Oil Index ($XOI +0.88%), and Gold & Silver Index ($XAU +0.93%) each posted gains.
PICTURED: The Bank Index ($BKX +1.72%) rebounded from July low and back above its 50-day moving average (DMA) line, but it remains well below its 200 DMA line.
| Oil Services |
$OSX |
73.81 |
+0.75 |
+1.02% |
+40.00% |
| Integrated Oil |
$XOI |
1,717.54 |
+15.00 |
+0.88% |
+45.78% |
| Semiconductor |
$SOX |
2,971.07 |
+104.88 |
+3.66% |
-24.71% |
| Networking |
$NWX |
848.04 |
+23.62 |
+2.87% |
-12.67% |
| Broker/Dealer |
$XBD |
459.54 |
+6.44 |
+1.42% |
-5.61% |
| Retail |
$RLX |
3,451.06 |
+55.91 |
+1.65% |
-18.35% |
| Gold & Silver |
$XAU |
108.77 |
+1.00 |
+0.93% |
-17.88% |
| Bank |
$BKX |
111.38 |
+1.88 |
+1.72% |
-15.76% |
| Biotech |
$BTK |
4,889.46 |
+16.78 |
+0.34% |
-11.40% |
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Best Ever Close With Gain on Lighter Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Griffon Corporation (GFF +$0.90 or +2.72% to $34.00) posted a gain today backed by lighter than average volume as it managed a best-ever close after recently hovering near its 52-week high, stubbornly holding its ground. Prior highs in the $31 area define initial support to watch on pullbacks.
GFF has a 99 Earnings Per Share Rating. It reported Jun '22 quarterly earnings +215% on +31% sales revenues versus the year ago period, its 3rd strong quarterly comparison above the +25% minimum guideline (C criteria). Annual earnings (A criteria) growth has been strong and steady.
The company has only 57 million shares outstanding (S criteria) which can contribute to greater volatility in the event of institutional buying or selling. The number of top-dated funds owning its shares rose from 331 in Mar '22 to 347 in Jun '22. Its current Up/Down Volume Ratio of 1.8 is an unbiased indication its shares have been under accumulation over the past 50 days.
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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 |
IMXI
-
NASDAQ
International Money Exp
Financial Svcs-Specialty
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$24.79
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+0.19
0.77% |
$24.90
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229,911
43.63% of 50 DAV
50 DAV is 527,000
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$26.23
-5.49%
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7/1/2022
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$21.27
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PP = $21.38
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MB = $22.45
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Most Recent Note - 8/23/2022 5:25:29 PM
G - Down today for 3rd consecutive small loss on lighter volume, retreating from its all-time high. Prior highs in the $22 area and its 50 DMA line ($22.44) define important near-term support to watch. Reported Jun '22 quarterly earnings +21% on +17% sales revenues versus the year ago period, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : June Quarter Was Below +25% Minimum Earnings Guideline - 8/23/2022 |
View all notes |
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C
A
S
I |
CI
-
NYSE
Cigna Corp
Medical-Managed Care
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$291.85
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+3.09
1.07% |
$291.94
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1,443,243
71.73% of 50 DAV
50 DAV is 2,012,000
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$293.96
-0.72%
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7/7/2022
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$276.55
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PP = $273.68
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MB = $287.36
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Most Recent Note - 8/22/2022 6:06:40 PM
G - Volume totals have been cooling while hovering at its all-time high holding its ground after rising above its "max buy" level. Reported earnings for the Jun '22 quarter rose +19% on +5% sales revenues versus the year ago period, breaking a streak of 3 quarterly earnings increases above the +25% minimum guideline (C criteria), raising concerns. Near-term support to watch is at its 50 DMA line ($271.67).
>>> FEATURED STOCK ARTICLE : Wedging Higher With Lighter Volume Behind Gain for New High - 8/9/2022 |
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C
A
S
I |
AN
-
NYSE
Autonation Inc
SPECIALTY RETAIL - Auto Dealerships
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$129.14
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+3.06
2.43% |
$129.53
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778,874
111.27% of 50 DAV
50 DAV is 700,000
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$135.57
-4.74%
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7/20/2022
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$122.03
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PP = $126.49
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MB = $132.81
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Most Recent Note - 8/25/2022 5:52:00 PM
Y - Posted a 3rd consecutive gain today and rose back above prior highs in the $126 area which were noted as initial support to watch. Faces no resistance due to overhead supply. Reported Jun '22 quarterly earnings +34% on -2% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Autonation Hovering Near Stubborn Resistance - 8/11/2022 |
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C
A
S
I |
ESQ
-
NASDAQ
Esquire Financial Hldgs
Finance-Commercial Loans
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$39.03
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+0.21
0.54% |
$39.55
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15,353
26.02% of 50 DAV
50 DAV is 59,000
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$41.68
-6.36%
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7/26/2022
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$37.74
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PP = $39.19
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MB = $41.15
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Most Recent Note - 8/22/2022 6:03:30 PM
Y - Pulled back today with lighter than average volume. Wedged above resistance in the $39 area with recent gains lacking volume conviction. Confirming gains above the pivot point backed by at least +40% above average volume may help clinch a proper technical buy signal. Its 50 DMA line ($35.74) defines important near-term support.
>>> FEATURED STOCK ARTICLE : Closed at Session High With Gain for New All-Time High - 8/12/2022 |
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C
A
S
I |
GPK
-
NYSE
Graphic Packaging Hldg
CONSUMER NON-DURABLES - Packaging and Containers
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$23.43
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+0.15
0.64% |
$23.57
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2,349,123
77.89% of 50 DAV
50 DAV is 3,016,000
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$23.71
-1.18%
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7/26/2022
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$22.63
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PP = $23.09
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MB = $24.24
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Most Recent Note - 8/23/2022 5:28:38 PM
Y - Posted a small gain today with light volume. Churned heavy volume but made limited progress since its 8/10/22 breakout, action indicative of distributional pressure.
>>> FEATURED STOCK ARTICLE : Churned Heavy Volume Perched at High After 6 Straight Gains - 8/15/2022 |
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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 |
CSL
-
NYSE
Carlisle Cos Inc
Diversified Operations
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$315.24
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+5.80
1.87% |
$315.46
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300,763
73.18% of 50 DAV
50 DAV is 411,000
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$318.71
-1.09%
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7/28/2022
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$282.31
|
PP = $275.23
|
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MB = $288.99
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Most Recent Note - 8/25/2022 5:56:16 PM
G - Posted a 3rd consecutive small gain, perched near its all-time high, stubbornly holding its ground. Prior highs in the $275 area define initial support to watch along with its 50 DMA line ($272.70).
>>> FEATURED STOCK ARTICLE : Pulling Back From All-Time High After Volume-Driven Gains - 8/22/2022 |
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C
A
S
I |
ENPH
-
NASDAQ
Enphase Energy Inc
Energy-Solar
|
$299.81
|
+6.72
2.29% |
$299.92
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1,727,174
51.95% of 50 DAV
50 DAV is 3,325,000
|
$308.88
-2.94%
|
7/28/2022
|
$276.66
|
PP = $282.55
|
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MB = $296.68
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Most Recent Note - 8/24/2022 5:09:56 PM
Y - Posted a 2nd consecutive small gain today with light volume. Hovering near its all-time high in recent weeks with volume totals cooling. The prior high in the $282 area has been noted as initial support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Enphase Energy Consolidating After Rallying to New Highs - 8/19/2022 |
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C
A
S
I |
PWR
-
NYSE
Quanta Services Inc
MATERIALS and CONSTRUCTION - General Contractors
|
$147.75
|
+2.64
1.82% |
$149.33
|
863,362
72.92% of 50 DAV
50 DAV is 1,184,000
|
$146.84
0.62%
|
7/28/2022
|
$141.83
|
PP = $140.14
|
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MB = $147.15
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Most Recent Note - 8/24/2022 5:12:25 PM
Y - Posted a small gain today with light volume for its 2nd best ever close. Volume totals have been below average while recently wedging back above its pivot point since encountering some distributional pressure. Confirming volume-driven gains for new highs would be a reassuring sign of serious institutional buying demand. Its 50 DMA line ($132.22) defines important near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Stalled After Breakout But Still Quietly Hovering Near High - 8/16/2022 |
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C
A
S
I |
CLFD
-
NASDAQ
Clearfield Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
|
$126.56
|
-0.72
-0.57% |
$130.01
|
243,697
71.89% of 50 DAV
50 DAV is 339,000
|
$128.86
-1.78%
|
7/29/2022
|
$94.10
|
PP = $86.81
|
|
MB = $91.15
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Most Recent Note - 8/23/2022 5:27:41 PM
G - Posted a gain today with average volume for a new all-time high, getting very extended from any sound base. Prior high in the $86 area defines initial support to watch above its 50 DMA line. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Clearfield Showed Resilience After Considerable Rally - 8/17/2022 |
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C
A
S
I |
GFF
-
NYSE
Griffon Corporation
MATERIALS and CONSTRUCTION - General Building Materials
|
$34.00
|
+0.90
2.72% |
$34.19
|
242,558
52.62% of 50 DAV
50 DAV is 461,000
|
$34.35
-1.02%
|
8/8/2022
|
$32.46
|
PP = $31.12
|
|
MB = $32.68
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Most Recent Note - 8/25/2022 5:53:28 PM
G - Posted a gain today with below average volume for a best-ever close after recently hovering near its 52-week high. Prior highs in the $31 area define initial support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Best Ever Close With Gain on Lighter Volume - 8/25/2022 |
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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 |
CLH
-
NYSE
Clean Harbors Inc
Pollution Control
|
$122.34
|
+0.06
0.05% |
$124.33
|
359,543
111.66% of 50 DAV
50 DAV is 322,000
|
$122.82
-0.39%
|
8/10/2022
|
$111.78
|
PP = $115.10
|
|
MB = $120.86
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Most Recent Note - 8/24/2022 12:23:36 PM
G - Hitting a new all-time high with today's gain, rising above its "max buy" level and its color code is changed to green. Posted a solid gain on the prior session backed by +20% above average volume. Previously noted gain and strong close above the pivot point backed by +116% above average volume on 8/12/22 triggered a technical buy signal. No resistance remains due to overhead supply. Fundamentals remain strong. Prior high in the $115 area defines important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Pollution Control Firm Perched Near Prior High - 8/10/2022 |
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C
A
S
I |
SNPS
-
NASDAQ
Synopsys Inc
COMPUTER SOFTWARE and SERVICES - Technical and System Software
|
$363.26
|
+4.51
1.26% |
$363.36
|
773,786
81.19% of 50 DAV
50 DAV is 953,000
|
$391.17
-7.14%
|
8/17/2022
|
$381.37
|
PP = $377.70
|
|
MB = $396.59
|
Most Recent Note - 8/24/2022 5:13:55 PM
G - Halted its slide this week after encountering distributional pressure since reaching a new all-time high. Reported Jul '22 quarterly earnings +16% on +18% sales revenues versus the year ago period, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. Renewed strength and subsequent gains above the pivot point backed by at least +40% above average volume are needed to clinch a technical buy signal.
>>> FEATURED STOCK ARTICLE : Earnings Report Below +25% Minimum and Encountering Distributional Pressure - 8/18/2022 |
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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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