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AFTER MARKET UPDATE - TUESDAY, SEPTEMBER 6TH, 2016
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Indices NYSE Nasdaq
DOW  +46.16 18,538.12 +0.25% Volume 835,153,260 +7% Volume 1,628,067,260 +19%
NASDAQ +26.01 5,275.91 +0.50% Advancers 1,755 59% Advancers 1,578 54%
S&P 500 +6.50 2,186.48 +0.30% Decliners 1,223 41% Decliners 1,357 46%
Russell 2000 +1.54 1,253.37 +0.12% 52 Wk Highs 299   52 Wk Highs 270  
S&P 600 -1.44 760.43 -0.19% 52 Wk Lows 10   52 Wk Lows 26  

Leadership Expanded as Major Averages Rose With More Volume

Stocks finished higher on Tuesday. The Dow was up 46 points to 18538. The S&P 500 added 6 points to 2186 and the Nasdaq Composite gained 26 points to 5275.  The volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange as traders returned from the long Labor Day weekend. Breadth was positive as advancers led decliners by a 3-2 margin on the NYSE and by an 8-7 margin on the Nasdaq exchange. There were 78 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 68 on the prior session. New 52-week highs totals expanded and solidly outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange.

Charts used courtesy of www.stockcharts.com


PICTURED: The Nasdaq Composite Index touched a new record high and ended at a best-ever close with Tuesday's gain on higher volume. 

The "confirmed uptrend" for the market (M criteria) endured some distributional pressure, however the Dow Jones Industrial Average found support above its 50-day moving average (DMA) line.  A healthy crop of leading stocks remains hitting new 52-week highs. ThFeatured Stocks Page lists noteworthy candidates that have made headway.

The major averages advanced on the session Tuesday as investors digested increased deal activity. On the data front, a report from the Institute for Supply Management showed the U.S. services sector expanded in August at the weakest pace in six years. In M&A news, Spectra Energy (SE+13.42%) climbed after agreeing to a $28 billion takeover bid from Canadian pipeline giant Enbridge (ENB +5.05%). Danaher Corp (DHR -2.08%) fell as the company agreed to acquire molecular diagnostics supplier  Cepheid (CPHD +52.61%) for $4 billion.

Eight of 11 sectors in the S&P 500 finished in positive territory. Energy shares paced the gains while Financials lagged. Over in Industrials, Navistar (NAV +40.65%) rose after announcing a strategic alliance with Volkswagen (VLKAF -1.38%) which will take 16.6% stake in the company. Barnes & Noble (BKS +9.89%) advanced after being the subject of positive analyst commentary. In earnings, Marvell Technology (MRVL -0.54%) sputtered as the company reported weaker-than-expected quarterly revenue.

Treasuries finished higher with the benchmark 10-year note up 18/32 to yield 1.54%. In commodities, NYMEX WTI crude added 1% to $44.88/barrel. COMEX gold gained 2.1% to $1354.60/ounce. In FOREX, the Dollar Index tumbled 1%.


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.


Commodity-Linked Groups and Biotech Index Led Gainers

The Broker/Dealer Index ($XBD -1.07%) and Bank Index ($BKX -1.07%) both fell on Tuesday  The Biotechnology Index ($BTK +2.88%) led the tech sector while the Networking Index ($NWX +0.17%) edged higher but the Semiconductor Index ($SOX -0.23%) sputteredThe Retail Index ($RLX +0.38%) eked out a modest gain.  The Gold & Silver Index ($XAU +5.09%) was a standout gainer and energy-linked groups had a positive bias as the Oil Services Index ($OSX +1.15%) and the Integrated Oil Index ($XOI +1.33%) both tallied gains.

Charts courtesy www.stockcharts.com

PICTURED: The Gold & Silver Index ($XAU +5.09%) is rebounding toward its 50-day moving average (DMA) line following August weakness.

Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  157.73 +1.79 +1.15% +0.00%
Integrated Oil $XOI  1,150.58 +15.05 +1.33% +7.26%
Semiconductor $SOX  805.10 -1.85 -0.23% +21.35%
Networking $NWX  401.07 +0.68 +0.17% +6.69%
Broker/Dealer $XBD  170.49 -1.84 -1.07% -4.27%
Retail $RLX  1,354.59 +5.07 +0.38% +5.54%
Gold & Silver $XAU  101.55 +4.92 +5.09% +124.17%
Bank $BKX  71.78 -0.78 -1.07% -1.78%
Biotech $BTK  3,344.21 +93.69 +2.88% -12.32%


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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  
$290.08 +1.72
0.60%

$290.82

259,736
69.26% of 50 DAV
50 DAV is 375,000
$290.85
-0.26%
5/11/2016 $248.33 PP = $245.00
MB = $257.25
Most Recent Note - 9/6/2016 4:25:47 PM
G - Today's light volume gain led to a best-ever close. Volume has been drying up while hovering in a tight range. 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 | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
IESC - NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc  
$16.85 -0.94
-5.28%

$18.16

173,845
173.85% of 50 DAV
50 DAV is 100,000
$18.12
-7.01%
7/26/2016 $15.79 PP = $15.74
MB = $16.53
Most Recent Note - 9/6/2016 4:16:58 PM
G - There was a "negative reversal" for a loss on higher volume after touching a new high today. Its 50 DMA line and the recent low (13.50 on 8/02/16) define important near-term support to watch. 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
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
NTES - NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers  
$222.00 +7.09
3.30%

$224.18

2,169,228
192.99% of 50 DAV
50 DAV is 1,124,000
$218.77
1.48%
6/29/2016 $182.42 PP = $186.55
MB = $195.88
Most Recent Note - 9/6/2016 1:01:02 PM
G - Rallying further into new all-time high territory with today's gain while volume is running at an above average pace. It is extended from any sound base. Its 50 DMA line ($201) 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
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
HTHT - NASDAQ
China Lodging Group Ads
LEISURE - Lodging  
$45.57 +0.43
0.95%

$45.71

199,563
84.92% of 50 DAV
50 DAV is 235,000
$47.72
-4.51%
7/13/2016 $38.87 PP = $39.29
MB = $41.25
Most Recent Note - 9/6/2016 4:20:59 PM
G - 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
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
MXL - NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure  
$19.81 -0.07
-0.35%

$20.01

836,800
59.14% of 50 DAV
50 DAV is 1,415,000
$22.50
-11.96%
5/16/2016 $19.24 PP = $19.20
MB = $20.16
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
 |  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
PATK - NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale  
$66.73 +0.62
0.94%

$66.87

210,265
94.71% of 50 DAV
50 DAV is 222,000
$69.53
-4.03%
5/24/2016 $53.45 PP = $50.68
MB = $53.21
Most Recent Note - 9/2/2016 3:24:16 PM
G - Quietly consolidating above the 50 DMA line ($63.30) 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 an annotated graph.
>>> FEATURED STOCK ARTICLE : Building a New Base Above 50-Day Moving Average Line - 8/31/2016
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
FBHS - NYSE
Fortune Brands Hme & Sec
Bldg-Constr Prds/Misc  
$63.00 -0.79
-1.24%

$64.02

874,979
46.00% of 50 DAV
50 DAV is 1,902,000
$64.47
-2.28%
6/22/2016 $57.71 PP = $60.08
MB = $63.08
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
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
LGIH - NASDAQ
L G I Homes Inc
Bldg-Resident/Comml  
$38.55 +0.33
0.86%

$38.78

454,190
85.37% of 50 DAV
50 DAV is 532,000
$39.23
-1.73%
8/29/2016 $37.08 PP = $36.44
MB = $38.26
Most Recent Note - 9/2/2016 3:27:08 PM
Y - Stubbornly holding its ground near its "max buy" level following considerable volume-driven gains for new highs. Highlighted in yellow in the 8/29/16 mid-day report with pivot point cited based on its 7/26/16 high, clearing a long cup-with-handle base and 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
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
NVEE - NASDAQ
N V 5 Global Inc
Comml Svcs-Consulting  
$31.33 -0.12
-0.38%

$32.07

31,998
36.36% of 50 DAV
50 DAV is 88,000
$37.00
-15.32%
4/19/2016 $28.20 PP = $28.10
MB = $29.51
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
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
SFBS - NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks  
$52.08 -1.06
-1.99%

$53.14

54,753
61.52% of 50 DAV
50 DAV is 89,000
$53.58
-2.80%
7/19/2016 $53.28 PP = $52.82
MB = $55.46
Most Recent Note - 9/6/2016 4:18:47 PM
Y - Today's quiet loss broke a streak of 8 small gains challenging 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
 |  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
INGN - NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies  
$58.75 +0.64
1.10%

$58.76

182,254
84.77% of 50 DAV
50 DAV is 215,000
$59.00
-0.42%
8/5/2016 $51.72 PP = $56.08
MB = $58.88
Most Recent Note - 9/6/2016 4:23:50 PM
Y - Posted a gain with light volume today for a best-ever close. Remains at its 52-week high, stubbornly holding ts ground. 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
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
OLLI - NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety  
$27.21 -0.27
-0.98%

$27.98

522,061
75.12% of 50 DAV
50 DAV is 695,000
$28.72
-5.26%
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
 |  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.

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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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