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AFTER MARKET UPDATE - THURSDAY, SEPTEMBER 1ST, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
+18.42 |
18,419.30 |
+0.10% |
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Volume |
804,496,450 |
-26% |
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Volume |
1,451,919,370 |
-9% |
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NASDAQ |
+13.99 |
5,227.21 |
+0.27% |
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Advancers |
1,400 |
48% |
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Advancers |
1,502 |
53% |
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S&P 500 |
-0.09 |
2,170.86 |
-0.00% |
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Decliners |
1,538 |
52% |
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Decliners |
1,334 |
47% |
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Russell 2000 |
+0.26 |
1,240.17 |
+0.02% |
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52 Wk Highs |
116 |
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52 Wk Highs |
111 |
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S&P 600 |
+0.04 |
753.11 |
+0.01% |
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52 Wk Lows |
15 |
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52 Wk Lows |
29 |
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Major Averages Posted Small Gains With Lighter Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished little-changed Thursday. The Dow added 18 points to 18419. The S&P 500 was flat to close at 2170. The Nasdaq Composite advanced 13 points to 5227. The volume totals were lighter than the prior session on the NYSE and on the Nasdaq exchange. Advancers and decliners were evenly mixed on the NYSE and the Nasdaq exchange. There were 29 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 26 on the prior session. New 52-week highs totals contracted yet still outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange. PICTURED: The Dow Jones Industrial Average is consolidating near its 50-day moving average (DMA) line and 2015 high.
The "confirmed uptrend" for the market (M criteria) endured more distributional pressure as the S&P 500 Index broke a five-month winning streak and the Dow Jones Industrial Average slumped near its 50-day moving average (DMA) line. The Featured Stocks Page lists noteworthy candidates that have made headway. The major averages fluctuated as investors positioned for tomorrow’s first-Friday jobs report. On the data front, Markit’s survey of U.S. manufacturing expanded to 52.0 in July, in-line with expectations. In a separate release, ISM’s manufacturing index yielded a 49.4 reading, contracting for the first time since February as new orders tumbled and factories cut jobs. Finally, new unemployment claims ticked up modestly to 263,000 last week, below expectations of 265,000. Six out of eleven sectors in the S&P 500 finished the session in positive territory. Energy and Financials lagged while Telecom and Tech stocks outperformed. In earnings, Salesforce.com (CRM -4.42%) fell as the cloud software company reported weak billings growth. Shares of Campbell Soup (CPB -6.27%) fell after quarterly profit and revenue fell short of expectations. Wynn Resorts (WYNN +4.31%) after posting its first increase in monthly gaming revenue in two years. Treasuries were mildly higher along the curve with benchmark 10-year note up 4/32 to yield 1.57%. In commodities, NYMEX WTI crude retreated 2.8% to a three-week low of $43.47/barrel. COMEX gold gained 0.4% to $1313.40/ounce. In FOREX, the dollar weakened against the Euro and British pound. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech Sector Rose and Gold & Silver Index Led Group Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The tech sector had a positive bias as the Networking Index ($NWX +1.27%) and the Semiconductor Index ($SOX +0.86%) outpaced the Biotechnology Index ($BTK +0.29%). The Retail Index ($RLX +0.13%) also eked out a small gain, but the Broker/Dealer Index ($XBD -0.73%) and Bank Index ($BKX -0.73%) both fell on Thursday. The Gold & Silver Index ($XAU +3.49%) rallied, meanwhile energy-linked groups were weak and the Oil Services Index ($OSX -1.15%) and the Integrated Oil Index ($XOI -0.56%) both ended lower. Charts courtesy www.stockcharts.com
PICTURED: The Bank Index ($BKX -0.73%) is near 2016 highs, recently rebounding above prior highs toward its 2015 record high.
| Oil Services |
$OSX |
154.80 |
-1.80 |
-1.15% |
-1.86% |
| Integrated Oil |
$XOI |
1,119.48 |
-6.33 |
-0.56% |
+4.36% |
| Semiconductor |
$SOX |
808.36 |
+6.88 |
+0.86% |
+21.84% |
| Networking |
$NWX |
398.04 |
+5.00 |
+1.27% |
+5.88% |
| Broker/Dealer |
$XBD |
170.93 |
-1.26 |
-0.73% |
-4.02% |
| Retail |
$RLX |
1,345.63 |
+1.77 |
+0.13% |
+4.84% |
| Gold & Silver |
$XAU |
93.32 |
+3.15 |
+3.49% |
+106.00% |
| Bank |
$BKX |
72.20 |
-0.42 |
-0.58% |
-1.20% |
| Biotech |
$BTK |
3,251.27 |
+9.35 |
+0.29% |
-14.75% |
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Rebound to 50-Day Moving Average After Abrupt Drop to 200-Day Line
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Maxlinear Inc (MXL +$0.35 or +1.83% to $19.52) has rebounded near its 50-day moving average (DMA) line. That important short-term average might act as a resistance level after damaging volume-driven losses. A convincing rebound above the 50 DMA line ($19.52) is needed for its outlook to improve. It found support at its 200 DMA line. That long-term average and prior lows in the $17 area define the next important support level where subsequent violations would raise serious concerns.
The high-ranked Electronics - Semiconductor firm was last shown in the FSU section on 7/29/16 with an annotated graph under the headline, "Consolidating Near Highs Above its 'Max Buy' Level ", following volume-driven gains for new highs. It reported Jun '16 earnings +127% on +44% sales revenues versus the year-ago period marking its 5th consecutive quarterly comparison above the +25% minimum earnings guideline (C criteria). Its small supply of only 54.5 million shares in the public float (S criteria) may contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 175 in Mar '15 to 327 in Jun '16, a very reassuring sign (I criteria). It currently has a Timeliness rating of A, and a Sponsorship Rating of D. |
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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
|
$287.41
|
+2.22
0.78% |
$287.85
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270,666
71.23% of 50 DAV
50 DAV is 380,000
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$289.96
-0.88%
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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 - 8/29/2016 4:02:29 PM
G - Volume has been drying up while hovering in a tight range, and today's light volume gain led to a best-ever close. 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 |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
|
$17.21
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+0.64
3.86% |
$17.29
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102,919
102.92% of 50 DAV
50 DAV is 100,000
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$18.12
-5.02%
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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 - 8/31/2016 2:41:33 PM
G - Pulling back for a 2nd session after spiking to new highs well above its "max buy" level. Under the fact-based system a stock which was previously sold can be bought back again if strength returns. Its 50 DMA line and the recent low (13.50 on 8/02/16) define important near-term support. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Strength Returned With Heavier Volume Gains for Highs - 8/30/2016 |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$215.91
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+3.94
1.86% |
$217.08
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1,127,961
100.80% of 50 DAV
50 DAV is 1,119,000
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$218.77
-1.31%
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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 - 9/1/2016 5:35:40 PM
G - Rose near its all-time high with today's gain on near average volume. It is extended from any sound base. Its 50 DMA line ($199) defines near-term support above prior highs in the $186 area.
>>> FEATURED STOCK ARTICLE : Pulled Back on Higher Volume Following Earnings Report - 8/18/2016 |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
|
$45.00
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+0.37
0.83% |
$45.17
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156,659
66.95% of 50 DAV
50 DAV is 234,000
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$47.72
-5.70%
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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 - 8/30/2016 6:00:20 PM
G - Pulled back today with lighter (near average) volume. Extended from any sound base after rallying well above its "max buy" level. Prior highs and its 50 DMA line define near term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gains for New Highs Signal Institutional Demand - 8/17/2016 |
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C
A
S
I |
MXL
-
NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure
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$19.52
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+0.35
1.83% |
$19.55
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787,682
55.90% of 50 DAV
50 DAV is 1,409,000
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$22.50
-13.24%
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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 - 9/1/2016 5:33:35 PM
G - Rebounded to its 50 DMA line ($19.55) which may act as resistance. Its 200 DMA line and prior lows in the $17 area define the next important support level where violations would raise serious concerns. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Rebound to 50-Day Moving Average After Abrupt Drop to 200-Day Line - 9/1/2016 |
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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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$64.56
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+0.53
0.83% |
$64.75
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128,983
58.10% of 50 DAV
50 DAV is 222,000
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$69.53
-7.15%
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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 - 8/31/2016 5:52:34 PM
G - Consolidating above the 50 DMA line ($62.98) and latest low ($59.51 on 8/16/16). Subsequent violations may raise concerns and trigger technical sell signals, meanwhile it may be forming a new base. See the latest FSU analysis for additional details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Building a New Base Above 50-Day Moving Average Line - 8/31/2016 |
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C
A
S
I |
FBHS
-
NYSE
Fortune Brands Hme & Sec
Bldg-Constr Prds/Misc
|
$63.83
|
+0.27
0.42% |
$63.96
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871,510
44.83% of 50 DAV
50 DAV is 1,944,000
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$64.47
-0.99%
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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 - 9/1/2016 5:38:12 PM
G - Finished near the session high with today's gain backed by light volume. Volume totals have been cooling while stubbornly holding its ground in a tight range near its 52-week high. Prior highs and its 50 DMA line define near-term support in the $60-61 area.
>>> FEATURED STOCK ARTICLE : Perched Above "Max Buy" Level Following Volume-Driven Gain - 8/1/2016 |
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C
A
S
I |
LGIH
-
NASDAQ
L G I Homes Inc
Bldg-Resident/Comml
|
$38.59
|
+0.17
0.44% |
$39.16
|
287,928
54.12% of 50 DAV
50 DAV is 532,000
|
$39.23
-1.63%
|
8/29/2016
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$37.08
|
PP = $36.44
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|
MB = $38.26
|
Most Recent Note - 8/30/2016 12:23:44 PM
Y - Rallying further today near its "max buy" level after finishing strong on the prior session. Highlighted in yellow in the 8/29/16 mid-day report with pivot point cited based on its 7/26/16 high, it hit a new 52-week high with +130% above average volume while rising from a 39-week long cup-with-handle base triggering a technical buy signal. Fundamentals remain strong. Group Relative Strength Rating of 62 reveals mediocre leadership (L criteria) in the industry group. Reported +45% earnings on +40% sales revenues for the second quarter ended June 30, 2016 versus the year ago period. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Finished Strong While Rallying From Cup-With-Handle Base - 8/29/2016 |
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C
A
S
I |
NVEE
-
NASDAQ
N V 5 Global Inc
Comml Svcs-Consulting
|
$31.29
|
+0.72
2.36% |
$31.31
|
85,435
97.09% of 50 DAV
50 DAV is 88,000
|
$37.00
-15.43%
|
4/19/2016
|
$28.20
|
PP = $28.10
|
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MB = $29.51
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Most Recent Note - 9/1/2016 5:37:16 PM
G - Rebounded near its 50 DMA line ($31.33) with today's gain on near average volume. Prior highs in the $30 area also define important near-term support. More damaging losses may trigger worrisome technical sell signals.
>>> FEATURED STOCK ARTICLE : Technically Strong Despite Fundamental Concerns - 8/22/2016 |
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C
A
S
I |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$52.41
|
+0.00
0.00% |
$52.71
|
50,845
57.13% of 50 DAV
50 DAV is 89,000
|
$53.58
-2.18%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
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Most Recent Note - 8/31/2016 2:42:59 PM
Y - Still quietly consolidating within close striking distance of its 52-week high. 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 : Still Consolidating Within Close Striking Distance of New Highs - 8/25/2016 |
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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 |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
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$57.95
|
-0.07
-0.12% |
$58.29
|
111,734
51.73% of 50 DAV
50 DAV is 216,000
|
$59.00
-1.78%
|
8/5/2016
|
$51.72
|
PP = $56.08
|
|
MB = $58.88
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Most Recent Note - 8/29/2016 4:04:33 PM
Y - Posted a gain with light volume today and matched its best-ever close after touching a new 52-week high. 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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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$27.66
|
+2.24
8.81% |
$28.60
|
4,100,758
654.03% of 50 DAV
50 DAV is 627,000
|
$28.72
-3.69%
|
7/19/2016
|
$26.42
|
PP = $28.82
|
|
MB = $30.26
|
Most Recent Note - 9/1/2016 12:23:55 PM
Y - Reported earnings +50% on +16% sales revenues for the Jul '16 quarter. Gapped up today promptly rebounding above its 50 DMA line with a considerable volume-driven gain helping its outlook improve and its color code is changed to yellow. Members were repeatedly reminded in prior notes - "Volume-driven gains above the pivot point are still needed to trigger a convincing technical buy signal."
>>> FEATURED STOCK ARTICLE : Near High Awaiting Volume-Driven Gain to Trigger Technical Buy Signal - 8/24/2016 |
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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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