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AFTER MARKET UPDATE - THURSDAY, SEPTEMBER 8TH, 2016
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DOW |
-46.23 |
18,479.91 |
-0.25% |
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Volume |
818,189,240 |
+2% |
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Volume |
1,693,691,020 |
-1% |
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NASDAQ |
-24.45 |
5,259.48 |
-0.46% |
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Advancers |
1,342 |
45% |
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Advancers |
1,401 |
49% |
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S&P 500 |
-4.86 |
2,181.30 |
-0.22% |
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Decliners |
1,610 |
55% |
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Decliners |
1,436 |
51% |
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Russell 2000 |
-2.65 |
1,258.36 |
-0.21% |
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52 Wk Highs |
181 |
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52 Wk Highs |
149 |
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S&P 600 |
-2.84 |
762.63 |
-0.37% |
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52 Wk Lows |
7 |
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52 Wk Lows |
32 |
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Less Leadership as Major Indices Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Thursday. The Dow was down 46 points to 18479. The S&P 500 lost 4 points to 2181 and the Nasdaq Composite fell 24 points to 5259. The volume totals were mixed, higher than the prior session on the NYSE and lighter on the Nasdaq exchange. Decliners narrowly led advancers on the NYSE while the mix was even on the Nasdaq exchange. There was less leadership as 39 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 71 on the prior session. New 52-week highs totals continued contracting yet still solidly outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange. PICTURED: The Dow Jones Industrial Average is consolidating near important near-term support at its 50-day moving average (DMA) line.
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. The Featured Stocks Page lists noteworthy candidates that have made headway.
The Nasdaq snapped its four-day winning streak as investors digested the European Central Bank’s decision to leave interest rates and its stimulus program unchanged. In prepared remarks, President Mario Draghi said the ECB didn’t discuss an extension to its bond-buying program, which sent European shares mostly lower on the session. On the domestic front, initial jobless claims came in at 259,000, below the reported 263,000 in the previous week.
Seven of 11 sectors in the S&P 500 finished in negative territory. Tech shares lagged as Apple (AAPL -2.62%) was lower following yesterday’s iPhone 7 product launch. Hewlett-Packard Enterprise (HPE -3.21%) fell as the computer products maker reported lower-than-expected quarterly revenue. In the consumer space, Tractor Supply (TSCO -16.94%) fell after the company cut its full-year guidance. Energy shares outperformed on the session as crude surged over 4%. Oil producer Petrobras (PBR +3.04%) rose after being the subject of positive analyst commentary.
Treasuries declined along the curve with the benchmark 10-year note down 20/32 to yield 1.60%. In commodities, NYMEX WTI crude rallied 4.3% to $47.46/barrel, after the weekly EIA report showed crude inventories fell by 14.5 million barrels last week. In FOREX, the dollar gained 0.8% against the yen. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy and Financial Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.67%) and Bank Index ($BKX +0.43%) both posted gains on Thursday while the Retail Index ($RLX -0.85%) created a drag on the major indices. The Biotechnology Index ($BTK +0.71%) led the tech sector while the Networking Index ($NWX -0.19%) and the Semiconductor Index ($SOX -0.20%) both sputtered to small losses. The Gold & Silver Index ($XAU -1.78%) fell, meanwhile the Oil Services Index ($OSX +2.53%) and the Integrated Oil Index ($XOI +1.55%) both finished higher. Charts courtesy www.stockcharts.com
PICTURED: The Oil Services Index ($OSX +2.53%) rebounded above its 200-day moving average (DMA) line again.
| Oil Services |
$OSX |
160.68 |
+3.96 |
+2.53% |
+1.87% |
| Integrated Oil |
$XOI |
1,169.34 |
+17.90 |
+1.55% |
+9.01% |
| Semiconductor |
$SOX |
797.57 |
-1.63 |
-0.20% |
+20.21% |
| Networking |
$NWX |
399.32 |
-0.78 |
-0.19% |
+6.22% |
| Broker/Dealer |
$XBD |
173.06 |
+1.15 |
+0.67% |
-2.82% |
| Retail |
$RLX |
1,339.92 |
-11.47 |
-0.85% |
+4.40% |
| Gold & Silver |
$XAU |
99.28 |
-1.80 |
-1.78% |
+119.16% |
| Bank |
$BKX |
72.23 |
+0.31 |
+0.43% |
-1.16% |
| Biotech |
$BTK |
3,420.54 |
+24.24 |
+0.71% |
-10.32% |
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Pullback Testing Important Near-Term Support Level
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Fortune Brands Home & Security Inc's (FBHS -$0.59 or -0.94% to $61.93) recent weakness has it testing its 50-day moving average (DMA) line ($61.97) and prior lows ($61.91 on 8/17/16) defining important near-term support. More damaging losses and violations may raise concerns and trigger technical sell signals, meanwhile it may be building a new base. However, it has seen its Relative Strength Rating slump to 71, well below the 80+ minimum guideline for buy candidates under the fact-based investment system.
It was last shown in this FSU section on 8/01/16 with an annotated graph under the headline, "Perched Above 'Max Buy' Level Following Volume-Driven Gain". Volume was +66% above average on 7/28/16 triggering a technical buy signal while hitting new highs after gapping up. Disciplined investors avoid chasing stocks more than +5% above prior highs.
It reported earnings +39% on +11% sales revenues for the Jun '16 quarter. The high-ranked Building - Construction Products firm showed encouraging earnings acceleration in sequential quarters, up +16%, +23%, +27% and +39% in the Jun, Sep, Dec '15 and Mar '16 quarters, respectively. The larger than +25% increases (C criteria) helped it better match with the fact-based investment system's fundamental guidelines.
FBHS currently has a Timeliness Rating of A and a Sponsorship Rating of B. It was first highlighted in yellow with pivot point cited based on its 4/21/16 high plus 10 cents. The number of top-rated funds owning its shares rose from 805 in Sep '15 to 1,003 in Jun '16, a reassuring sign concerning the I criteria.
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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
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$288.49
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-3.32
-1.14% |
$291.33
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471,797
135.57% of 50 DAV
50 DAV is 348,000
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$294.38
-2.00%
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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 - 9/7/2016 6:05:15 PM
G - Wedged to new all-time highs with today's 4th consecutive gain backed by light volume. Its 50 DMA line and prior highs define important near-term support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Light Volume Behind Gains Wedging for New Highs - 9/7/2016 |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$17.30
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+0.03
0.17% |
$17.41
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39,739
47.31% of 50 DAV
50 DAV is 84,000
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$18.16
-4.74%
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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 - 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 |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
|
$221.68
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+2.75
1.26% |
$223.25
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716,320
61.75% of 50 DAV
50 DAV is 1,160,000
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$224.18
-1.12%
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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 - 9/6/2016 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 |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
|
$45.11
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-0.20
-0.44% |
$45.75
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106,285
46.01% of 50 DAV
50 DAV is 231,000
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$47.72
-5.47%
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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 - 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 |
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C
A
S
I |
MXL
-
NYSE
Maxlinear Inc Cl A
Telecom-Infrastructure
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$19.36
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-0.14
-0.72% |
$19.55
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989,685
71.30% of 50 DAV
50 DAV is 1,388,000
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$22.50
-13.96%
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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 - 9/7/2016 6:10:55 PM
G - Fell back below its 50 DMA line ($19.65) today. Its 200 DMA line and prior lows in the $17 area define the next important support level where violations would raise serious concerns.
>>> 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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$64.74
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-0.85
-1.30% |
$65.82
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106,684
48.94% of 50 DAV
50 DAV is 218,000
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$69.53
-6.89%
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9/8/2016
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$64.74
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PP = $69.63
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MB = $73.11
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Most Recent Note - 9/8/2016 6:12:35 PM
Y - Color code is changed to yellow with new pivot point cited based on its 7/28/16 high plus 10 cents. Volume-driven gains for new highs may trigger a new (or add-on) technical buy signal, meanwhile, it is quietly consolidating above the 50 DMA line ($63.84) which has acted as support in recent weeks. Subsequent losses leading to a violation may trigger a technical sell signal.
>>> 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
|
$61.93
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-0.59
-0.94% |
$62.68
|
952,709
80.64% of 50 DAV
50 DAV is 1,181,500
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$64.47
-3.94%
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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 - 9/8/2016 6:02:03 PM
G - Quietly consolidating near its 50 DMA line and prior low ($61.91 on 8/17/16) defining important near-term support. More damaging losses and violations may raise concerns and trigger technical sell signals, meanwhile it may be building a new base. See the latest FSU analysis for additional details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Pullback Testing Important Near-Term Support Level - 9/8/2016 |
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C
A
S
I |
LGIH
-
NASDAQ
L G I Homes Inc
Bldg-Resident/Comml
|
$38.92
|
-0.54
-1.37% |
$39.64
|
313,837
58.99% of 50 DAV
50 DAV is 532,000
|
$40.47
-3.83%
|
8/29/2016
|
$37.08
|
PP = $36.44
|
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MB = $38.26
|
Most Recent Note - 9/8/2016 6:06:18 PM
G - Pulled back on lighter volume today after hitting new all-time highs above its "max buy" level and its color code was changed to green. Prior highs in the $36 area define initial support to watch.
>>> 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
|
$31.35
|
+0.08
0.26% |
$31.39
|
28,837
36.50% of 50 DAV
50 DAV is 79,000
|
$37.00
-15.27%
|
4/19/2016
|
$28.20
|
PP = $28.10
|
|
MB = $29.51
|
Most Recent Note - 9/7/2016 6:12:13 PM
G - Quietly consolidating near its 50 DMA line ($31.60). Prior highs in the $30 area 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
|
$52.51
|
-0.24
-0.45% |
$52.89
|
30,332
43.33% of 50 DAV
50 DAV is 70,000
|
$53.58
-2.00%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
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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 |
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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
|
$59.60
|
-0.01
-0.02% |
$60.07
|
132,066
64.74% of 50 DAV
50 DAV is 204,000
|
$59.90
-0.50%
|
8/5/2016
|
$51.72
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PP = $56.08
|
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MB = $58.88
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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 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$26.20
|
-0.14
-0.53% |
$26.50
|
1,678,902
218.04% of 50 DAV
50 DAV is 770,000
|
$28.72
-8.77%
|
7/19/2016
|
$26.42
|
PP = $28.82
|
|
MB = $30.26
|
Most Recent Note - 9/8/2016 12:33:43 PM
Y - Slumped near its 50 DMA line with a considerable volume-driven loss on previously noted news of a Secondary Offering. Reported earnings +50% on +16% sales revenues for the Jul '16 quarter. 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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