FACTBASEDINVESTING.COM - AFTER MARKET UPDATE - Tuesday, September 3rd, 2024

<<<Previous Mid Day Report	Next Mid Day Report >>>
<<<Previous After Market Report	Next After Market Report >>>

You are not logged in.
This means you CAN ONLY VIEW reports that were published prior to Wednesday, September 18, 2024.
You MUST UPGRADE YOUR MEMBERSHIP if you want to see any current reports.

AFTER MARKET UPDATE - TUESDAY, SEPTEMBER 3RD, 2024

Previous After Market Report Next After Market Report >>>

Indices				NYSE			Nasdaq
DOW	-626.15	40,936.93	-1.51%	Volume	990,753,522	-40%	Volume	5,865,906,900	+5%
NASDAQ	-577.33	17,136.30	-3.26%	Advancers	765	28%	Advancers	1,005	23%
S&P 500	-119.47	5,528.93	-2.12%	Decliners	1,992	72%	Decliners	3,311	77%
Russell 2000	-68.42	2,149.21	-3.09%	52 Wk Highs	185		52 Wk Highs	90
S&P 600	-40.73	1,371.84	-2.88%	52 Wk Lows	52		52 Wk Lows	158

Major Indices Slumped on First September Session
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

The Dow Jones Industrial Average ended more than 600 points lower. The Nasdaq Composite closed nearly 600 points lower, the S&P 500 declined more than 100 points, and the Russell 2000 shed -3.1%. Volume reported was mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Decliners led advancers by a 5-2 margin on the NYSE and by more than a 3-1 margin on the Nasdaq exchange. There were 53 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus 80 on the prior session. New 52-week highs totals outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Disciplined investors know that new buying efforts are only to be made in stocks meeting all key criteria of the fact-based investment system.

Chart courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index fell toward its 50-day moving average (DMA) line. Last week's gains challenged its all-time high.

Nine of the 11 S&P 500 sectors fell. The information technology sector (-4.4%) logged the biggest loss due to weakness in its mega cap and semiconductor components. NVIDIA (NVDA -9.5%) was an influential loser, falling under profit-taking pressure. The energy sector (-2.4%) fell alongside oil prices. WTI crude oil futures fell -4.3% to $70.37/bbl.

The ISM Manufacturing Index for August showed improvement, but not as much as expected, raising concerns. The market also showed signs of worrys after China's Manufacturing PMI for August showed a deepening contraction.

Treasury yields settled lower. The 10-yr note yield fell seven basis points to 3.84% and the 2-yr note yield settled four basis points lower at 3.89%.

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.

Semiconductor and Commodity-Linked Indexes Led Widespread Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -1.01%), Bank Index ($BKX -1.57%), and the Broker/Dealer Index ($XBD -1.90%) ended unanimously lower. The tech sector was led lower by the Semiconductor Index ($SOX -7.75%), meanwhile the Networking Index ($NWX -2.19%) and the Biotech Index ($BTK -1.86%) both suffered smaller losses. The Gold & Silver Index ($XAU -4.19%), Oil Services Index ($OSX -4.90%), and the Integrated Oil Index ($XOI -3.19%) ended unanimously lower.

Chart courtesy of www.stockcharts.com

PICTURED: The Oil Services Index ($OSX -4.90%) recently met resistance near its 50-day and 200-day moving averages when rebounding. It slumped sharply toward its 2024 low on Tuesday with a big loss.

Industry Index	Symbol	Close	Change	% Change	YTD % Change
Oil Services	$OSX	77.83	-4.01	-4.90%	-7.21%
Integrated Oil	$XOI	1,945.23	-64.17	-3.19%	+4.44%
Semiconductor	$SOX	4,759.00	-399.82	-7.75%	+13.98%
Networking	$NWX	995.72	-22.31	-2.19%	+19.56%
Broker/Dealer	$XBD	666.69	-12.90	-1.90%	+19.63%
Retail	$RLX	4,414.41	-44.83	-1.01%	+13.52%
Gold & Silver	$XAU	147.47	-6.44	-4.19%	+17.33%
Bank	$BKX	114.11	-1.82	-1.57%	+18.84%
Biotech	$BTK	5,762.55	-109.34	-1.86%	+6.34%

Pulled Back From New All-Time High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam

Mercadolibre Inc (MELI -$71.49 or -3.47% to $1,990.17) pullied back today with above-average volume after hitting a new all-time high on the prior session. The prior highs in the $1825 area defines initial support to watch above trhe 50-day moving average (DMA) line ($1,785).

MELI was highlighted in yellow with pivot point cited based on its 5/20/24 high plus 10 cents in the 8/05/24 mid-day report (read here). It last shown in detail that evening with an annotated graph under the headline, "Finished Flat When Poised to Breakout".

MELI has a highest possible Earnings Per Share Rating of 99. It reported Jun '24 quarterly earnings +103% on +42% sales revenues versus the year ago period. Three of the 4 latest quarterly comparisons have shown strong sales revenues and earnings increases well above the +25% minimum guideline (C criteria). Following losses in FY '18 -'20 and annual earnings (A criteria) have improved greatly.

The Latin American Retail - Internet firm has seen top-rated funds owning an interest in the company's shares rise from 2,690 in Sep '23 to 3,032 in Jun '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.5 provides an unbiased indication that its shares have been under accumulation over the past 50 days.

Charts courtesy www.stockcharts.com

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
USLM - NASDAQ U.S. Lime & Minerals Bldg-Cement/Concrt/Ag	$76.15	-5.58 -6.83%	$82.06	70,635 86.14% of 50 DAV 50 DAV is 82,000	$87.13 -12.60%	6/18/2024	$71.26	PP = $75.77
								MB = $79.56
Most Recent Note - 9/3/2024 3:28:29 PM G - Pulling back today for a big loss testing its 50 DMA line ($76.86). More damaging losses would raise serious concerns. Near-term resistance remains due to overhead supply up to the $87 level. >>> FEATURED STOCK ARTICLE : Volume Cooling While Consolidating Above 50-Day Moving Average - 8/21/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
GVA - NYSE Granite Construction Bldg-Heavy Construction	$72.70	-2.46 -3.27%	$74.97	532,223 75.60% of 50 DAV 50 DAV is 704,000	$75.36 -3.53%	6/11/2024	$59.76	PP = $64.33
								MB = $67.55
Most Recent Note - 9/3/2024 3:32:39 PM G - Volume is light behind today's loss, slumping from its all-time high. Its 50 DMA line ($67.11) defines inital support to watch on pullbacks above prior highs in the $64 area. >>> FEATURED STOCK ARTICLE : Granite Contruction Closes at All-Time High - 8/30/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
MMYT - NASDAQ MakeMyTrip Leisure-Travel Booking	$88.62	-7.55 -7.85%	$95.25	765,717 114.97% of 50 DAV 50 DAV is 666,000	$101.50 -12.69%	7/23/2024	$96.92	PP = $93.39
								MB = $98.06
Most Recent Note - 9/3/2024 3:25:31 PM G - Today's big volume-driven loss is violating its 50 DMA line ($90.83) triggering a technical sell signal and its color code is changed to green. Only a prompt rebound above the 50 DMA line would help its outlook improve. >>> FEATURED STOCK ARTICLE : Reversed Into Red After Quietly Touching a New High - 8/26/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
TXRH - NASDAQ Texas Roadhouse Retail-Restaurants	$166.69	-2.06 -1.22%	$170.14	895,108 114.46% of 50 DAV 50 DAV is 782,000	$177.72 -6.21%	7/26/2024	$173.08	PP = $175.82
								MB = $184.61
Most Recent Note - 9/3/2024 3:35:48 PM G - Pulling back today with below-average volume, sputtering below its 50 DMA line ($169.23) which is now downward sloping and has acted as resistance. >>> FEATURED STOCK ARTICLE : Meeting Stubborn Resistance at 50-Day Moving Average - 8/27/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I
HWM - NYSE Howmet Aerospace Aerospace/Defense	$93.02	-3.64 -3.77%	$97.90	2,915,392 97.86% of 50 DAV 50 DAV is 2,979,000	$98.15 -5.23%	7/30/2024	$93.95	PP = $85.52
								MB = $89.80
Most Recent Note - 9/3/2024 3:31:27 PM G - Pulling back for a big loss today with below-average volume. Its 50 DMA ($86.90) and prior highs in the $85 area define important near-term support. >>> FEATURED STOCK ARTICLE : Holding Ground Near All-Time High After Pullback Testing Support - 8/29/2024 \| 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
MELI - NASDAQ MercadoLibre Retail-Internet	$1,990.17	-71.49 -3.47%	$2,053.60	346,554 109.32% of 50 DAV 50 DAV is 317,000	$2,064.76 -3.61%	8/5/2024	$1,793.73	PP = $1,792.15
								MB = $1,881.76
Most Recent Note - 9/3/2024 3:34:11 PM G - Pulling back today with lighter volume after hitting a new all-time high on the prior session. Prior highs define initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Pulled Back From New All-Time High - 9/3/2024 \| View all notes \| Set NEW NOTE alert \| Company Profile \| SEC News \| Chart \| Request a new note C A S I

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. You may opt-out of receiving report notifications at any time. Questions or comments may be submitted 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.