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AFTER MARKET UPDATE - MONDAY, AUGUST 31ST, 2015
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DOW |
-114.98 |
16,528.03 |
-0.69% |
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Volume |
1,080,192,890 |
+8% |
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Volume |
1,668,538,460 |
-7% |
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NASDAQ |
-51.81 |
4,776.51 |
-1.07% |
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Advancers |
1,351 |
44% |
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Advancers |
1,388 |
48% |
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S&P 500 |
-16.69 |
1,972.18 |
-0.84% |
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Decliners |
1,733 |
56% |
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Decliners |
1,483 |
52% |
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Russell 2000 |
-3.46 |
1,159.45 |
-0.30% |
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52 Wk Highs |
5 |
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52 Wk Highs |
22 |
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S&P 600 |
+0.02 |
674.86 |
+0.00% |
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52 Wk Lows |
42 |
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52 Wk Lows |
25 |
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Leadership Thin as Major Averages Pulled Back Again
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
For the month, the Dow was down 6.6%, the S&P 500 lost 6.3% and the NASDAQ tumbled 6.9%. Stocks retreated on Monday. The Dow finished 114 points lower to 16528. The S&P 500 declined 16 points to 1972. The NASDAQ ebbed 51 points to 4776. Monday's volume totals were reported mixed, higher than the prior session on the NYSE and lower on the Nasdaq exchange. Breadth was slightly negative as decliners led advancers by a 4-3 margin on the NYSE and 8-7 the Nasdaq exchange. Leadership thinned as there were only 6 stocks that made it onto the BreakOuts Page, down from 8 high-ranked companies from the Leaders List that made a new 52-week high on the prior session. There were losses for all 5 high-ranked companies currently on the Featured Stocks Page, a list that was trimmed during recent weakness. The total number of new 52-week lows still outnumbered new 52-week highs on both exchanges.
PICTURED: The Dow Jones Industrial Average chart shows the severity of the recently noted correction after the index's 50-day and 200-day moving average (DMA) lines converged. Monday's session marked Day 4 of a new rally attempt. Provided that the Day 1 session lows are not violated, investors may be looking for a valid follow-through day to possibly signal a new "confirmed rally" at some point. Follow-through days require at least one of the major averages to post a solid gain +1.4% gain or more on higher volume, and the gain must be coupled with an expansion in leadership (stocks hitting new 52-week highs).
Keep in mind, for a market environment to be considered technically "healthy" at least 2 of the 3 major indices should be trading above their respective 200-day moving average (DMA) lines. The market correction (M criteria) grew worrisome as all of the major indices dove below their respective 200-day moving average (DMA) lines. A lot of recovery work must be done to get the indices back into "healthy" shape, and that improvement could require some considerable time and patience.
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 sold off to cap the worst month for global equities in
more than three years. In economic news, a release this morning showed that
Chicago PMI for August was in line with expectations. Over the weekend, Fed vice
chairman Stanley Fischer said that the Fed has not ruled out raising interest
rates in September.
Nine of the ten sectors in the S&P 500 finished lower, with healthcare
and utilities bringing up the rear. Celgene (CELG -4.80%) to lead the
losses in healthcare. Energy was the lone sector in the green, turning positive
after an encouraging news release from OPEC and a report showing domestic
inventories declined. ConocoPhillips (COP +4.98%) jumped in sympathy with the
spike in oil prices. Phillip 66 (PSX +2.38%) also outperformed, advancing on
news this weekend that Warren Buffet’s Berkshire Hathaway (BRKB -1.25%) took a 10% stake in
the company.
Treasuries moved lower at the end of the session. The 10-year note fell 9/32
to yield 2.21%.
Commodities were mixed. WTI crude soared 7.8% to $48.76/barrel. COMEX gold
was little changed at $1134.90/ounce. In FOREX, the dollar index slid 0.3%.
The number of stocks currently listed to the Featured Stocks Page has waned based on deteriorating market conditions. The most current notes with headline links help members have access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy-Linked Groups Rose Amid Broader Group Weakness
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Strength in energy-linked shares boosted the Oil Services Index ($OSX +2.21%) and the Integrated Oil Index ($XOI +1.01%). Meanwhile, the Retail Index ($RLX -0.67%) ended lower on Monday, and financial shares had a slightly negative bias as the Broker/Dealer Index ($XBD -0.10%) and the Bank Index ($BKX -0.26%) both edged lower. The tech sector had a negative bias as the Biotechnology Index ($BTK -2.81%) was a standout decliner, meanwhile the Semiconductor Index ($SOX -0.47%) and the Networking Index ($NWX -0.37%) both ended with smaller losses. The Gold & Silver Index ($XAU -0.81%) also lost ground.
PICTURED: The Oil Services Index ($OSX +2.21%) rebounded above its 50-day moving average (DMA) line and above prior lows with a 4th consecutive gain. The fact-based investment system discourages speculating on out of favor groups and weak stocks. During especially weak market environments investors should preserve cash by reducing exposure.
| Oil Services |
$OSX |
184.33 |
+3.99 |
+2.21% |
-12.59% |
| Integrated Oil |
$XOI |
1,143.61 |
+11.38 |
+1.01% |
-15.17% |
| Semiconductor |
$SOX |
611.04 |
-2.87 |
-0.47% |
-11.04% |
| Networking |
$NWX |
373.21 |
-1.40 |
-0.37% |
+4.27% |
| Broker/Dealer |
$XBD |
176.55 |
-0.18 |
-0.10% |
-4.38% |
| Retail |
$RLX |
1,193.92 |
-8.04 |
-0.67% |
+15.61% |
| Gold & Silver |
$XAU |
48.43 |
-0.39 |
-0.80% |
-29.59% |
| Bank |
$BKX |
72.57 |
-0.19 |
-0.26% |
-2.28% |
| Biotech |
$BTK |
3,798.19 |
-109.81 |
-2.81% |
+10.44% |
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Found Support at 50-day Average Following Breakout
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Inogen Inc (INGN -$0.49 or -0.98% to $49.29) found prompt support near its 50-day moving average (DMA) line and prior highs when consolidating. It was last shown in this FSU section on 8/12/15 with an annotated graph under the headline, "Finished Strong With Volume-Driven Breakout Gain", after highlighted in yellow with pivot point cited based on its 6/23/15 high plus 10 cents in the earlier mid-day report (read here).
Technically, it broke out with a gap up and considerable volume-driven gain. Bullish action came as it reported Jun '15 earnings +55% on 45% sales revenues, its 4th consecutive quarterly earnings increase above the +25% minimum guideline (C criteria). During that time its sales revenues growth has been in the +43-49% range, a reassuring sign of increasing demand for its new products and services (N criteria).
The number of top-rated funds owning its shares rose from 114 in Sep '14 to 195 in Jun '15, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.2 is an unbiased indication its shares have been under slight accumulation over the past 500 days. Its small supply of only 11.8 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling.
Recent market weakness (M criteria) remains an overriding concern arguing against new buying efforts. Its limited history was previously noted as a concern, yet it is up considerably from its $16 IPO on 2/14/14 followed by a Secondary Offering on 10/30/14.
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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 |
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Max Buy |
BOFI
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NASDAQ
B O F I Holding Inc
BANKING - Savings andamp; Loans
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$115.84
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-1.78
-1.51% |
$118.42
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354,496
132.27% of 50 DAV
50 DAV is 268,000
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$134.79
-14.06%
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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 - 8/27/2015 6:37:01 PM
G - Recent market weakness (M criteria) has raised concerns. Halted its slide at its 50 DMA line with today's gain after 7 consecutive losses. It has not formed a sound base following a considerable +32% rally in less than 2 months after first featured in yellow in the 6/10/15 mid-day report.
>>> 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 |
Request a new note
C
A
S
I |
AHS
-
NYSE
A M N Healthcare Svcs
DIVERSIFIED SERVICES - Staffing and Outsourcing Service
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$33.60
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-0.30
-0.88% |
$34.02
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685,250
89.23% of 50 DAV
50 DAV is 768,000
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$37.25
-9.80%
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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 - 8/31/2015 5:41:15 PM
G - Found prompt support last week near prior highs and its 50 DMA line. More damaging losses would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Testing Support Amid Broad Market Weakness - 8/25/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
ULTA
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NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other
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$158.09
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-0.91
-0.57% |
$160.66
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1,110,638
125.35% of 50 DAV
50 DAV is 886,000
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$176.77
-10.57%
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5/29/2015
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$155.03
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PP = $159.95
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MB = $167.95
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Most Recent Note - 8/28/2015 1:10:37 PM
G - Erased much of its early gains today after briefly rebounding above the 50 DMA line ($163.58). A rebound above the 50 DMA line is needed for its outlook to improve. Found prompt support after undercutting its 200 DMA line on 8/24/15 amid broad market (M criteria) weakness.
>>> FEATURED STOCK ARTICLE : Recent Gains Have Still Lacked Substantial Volume Conviction - 8/13/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
LXFT
-
NYSE
Luxoft Holding Inc Cl A
Comp Sftwr-Spec Enterprs
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$61.09
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-0.62
-1.00% |
$61.70
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88,164
30.83% of 50 DAV
50 DAV is 286,000
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$68.16
-10.37%
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5/26/2015
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$51.90
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PP = $57.40
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MB = $60.27
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Most Recent Note - 8/27/2015 6:30:38 PM
G - Prompt rebound above the 50 DMA line helped its outlook improve following recent shakeout and broad market weakness (M criteria). See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : After Shakeout a Prompt Rebound Above 50-Day Moving Average - 8/27/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
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$49.29
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-0.49
-0.98% |
$51.09
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294,600
105.97% of 50 DAV
50 DAV is 278,000
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$51.86
-4.96%
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8/12/2015
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$49.01
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PP = $45.85
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MB = $48.14
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Most Recent Note - 8/31/2015 5:39:25 PM
G - Consolidating above its "max buy" level. Found prompt support near its 50 DMA line amid recent market weakness (M criteria) which remains an overriding concern arguing against new buying efforts. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Found Support at 50-day Average Following Breakout - 8/31/2015 |
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 |
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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.
This report is a service available
only to active Paid Premium Members.
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by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307
or 954-785-1121.
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