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AFTER MARKET UPDATE - FRIDAY, SEPTEMBER 13TH, 2024
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DOW |
+297.01 |
41,393.78 |
+0.72% |
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Volume |
821,682,865 |
-5% |
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Volume |
4,864,346,300 |
-3% |
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NASDAQ |
+114.30 |
17,683.98 |
+0.65% |
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Advancers |
2,334 |
85% |
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Advancers |
3,230 |
76% |
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S&P 500 |
+30.26 |
5,626.02 |
+0.54% |
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Decliners |
426 |
15% |
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Decliners |
1,007 |
24% |
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Russell 2000 |
+53.06 |
2,182.49 |
+2.49% |
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52 Wk Highs |
360 |
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52 Wk Highs |
249 |
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S&P 600 |
+33.81 |
1,384.04 |
+2.50% |
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52 Wk Lows |
11 |
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52 Wk Lows |
60 |
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Major Indices Rose Again With Less Volume Conviction
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+0.5%) and Nasdaq Composite (+0.7%) posted modest gains while the Russell 2000 outperformed, jumping +2.5%. Volume reported was lighter than the prior session totals on the NYSE and on the Nasdaq exchange, indicative of lackluster institutional buying demand. Breadth was positive as advancers led decliners by more than a 5-1 margin on the NYSE and by a 3-1 margin on the Nasdaq exchange. There were 79 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 33 on the prior session. New 52-week highs totals expanded and outnumbered shrinking new 52-week lows on the NYSE and 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.
 PICTURED: The S&P 500 Index posted a 5th consecutive gain, making steady progress above its 50-day moving average (DMA) line toward its all-time high.
The belief that the economy is headed for a soft landing was supported by the preliminary University of Michigan Consumer Sentiment survey for September showing that year-ahead expectations for personal finances and the economy both improved.
The 10-yr note yield settled three basis points lower at 3.65%. The 2-yr note yield settled seven basis points lower at 3.58%. Signaling optimism that the Fed may cut rates 50 basis points next week, the probability of a 25 basis points rate cut dropped to 53.0% from 72.0% yesterday, according to the CME FedWatch Tool.
All 11 S&P 500 sectors closed higher led by utilities (+1.4%) and communication services (+1.0%). A decline in shares of Boeing (BA -3.7%) acted as a limiting factor for the Dow Jones Industrial Average (+0.7%) after news that its machinists union voted by 96% in favor of striking.
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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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Financial, Tech, and Gold & Silver Indexes Led Group Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.70%) and the Bank Index ($BKX +0.90%) posted influential gains while the Retail Index ($RLX +0.32%) posted a smaller gain. The tech sector had a positive bias as the Networking Index ($NWX +0.63%), Biotech Index ($BTK +1.43%), and the Semiconductor Index ($SOX +1.68%) posted unanimous gains. Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +2.36%) posted a solid gain as the Oil Services Index ($OSX +0.21%) and the Integrated Oil Index ($XOI +0.63%) both notched smaller gains.
PICTURED: The Oil Services Index ($OSX +0.21%) posted a 3rd consecutive small gain, rebounding from its 2024 low.
| Oil Services |
$OSX |
73.72 |
+0.15 |
+0.21% |
-12.11% |
| Integrated Oil |
$XOI |
1,848.56 |
+11.51 |
+0.63% |
-0.75% |
| Semiconductor |
$SOX |
4,980.49 |
+82.05 |
+1.68% |
+19.28% |
| Networking |
$NWX |
1,076.58 |
+6.74 |
+0.63% |
+29.27% |
| Broker/Dealer |
$XBD |
672.09 |
+11.26 |
+1.70% |
+20.60% |
| Retail |
$RLX |
4,619.55 |
+14.83 |
+0.32% |
+18.79% |
| Gold & Silver |
$XAU |
160.39 |
+3.70 |
+2.36% |
+27.61% |
| Bank |
$BKX |
109.80 |
+0.98 |
+0.90% |
+14.36% |
| Biotech |
$BTK |
5,881.12 |
+83.11 |
+1.43% |
+8.53% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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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 |
USLM
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NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$84.83
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+2.97
3.63% |
$85.09
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39,861
54.60% of 50 DAV
50 DAV is 73,000
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$87.13
-2.64%
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6/18/2024
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$71.26
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PP = $75.77
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MB = $79.56
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Most Recent Note - 9/13/2024 2:53:19 PM
Y - Color code was changed to yellow during its streak of 8 consecutive gains, rising above its 50 DMA line ($78) helping its outlook improve. Little near-term resistance remains due to overhead supply up to the $87 level.
>>> FEATURED STOCK ARTICLE : US Lime & Minerals Lingers Below 50-Day Average - 9/6/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
GVA
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NYSE
Granite Construction
Bldg-Heavy Construction
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$76.37
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+2.08
2.80% |
$76.92
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1,049,891
157.64% of 50 DAV
50 DAV is 666,000
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$75.36
1.34%
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6/11/2024
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$59.76
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PP = $64.33
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MB = $67.55
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Most Recent Note - 9/13/2024 2:50:57 PM
G - Volume is below average behind today's 5th consecutive gain as it is rising to a new all-time high. Its recent low ($70.54 on 9/06/24) and 50 DMA line ($69) define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Granite Contruction Closes at All-Time High - 8/30/2024 |
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News |
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C
A
S
I |
MMYT
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NASDAQ
MakeMyTrip
Leisure-Travel Booking
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$102.79
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+1.56
1.54% |
$104.35
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478,074
69.69% of 50 DAV
50 DAV is 686,000
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$103.31
-0.50%
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7/23/2024
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$96.92
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PP = $93.39
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MB = $98.06
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Most Recent Note - 9/12/2024 5:12:51 PM
G - Posted a 4th consecutive gain today with near average volume, rising further above its "max buy" level and hitting new 52-week high. Recently retested support near its 50 DMA line ($92.48). Faces no resistance due to overhead supply. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : New High After Finding Prompt Support Near 50-Day Moving Average - 9/12/2024 |
View all notes |
Set NEW NOTE alert |
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News |
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C
A
S
I |
TXRH
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NASDAQ
Texas Roadhouse
Retail-Restaurants
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$163.92
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+2.07
1.28% |
$164.32
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716,108
97.03% of 50 DAV
50 DAV is 738,000
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$177.72
-7.77%
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7/26/2024
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$173.08
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PP = $175.82
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MB = $184.61
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Most Recent Note - 9/12/2024 5:09:46 PM
G - Pulled back today with higher (+18% above-average) volume. Still sputtering below its 50 DMA line ($168) which is now downward sloping and has acted as resistance. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> 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 |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$95.28
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+1.05
1.11% |
$95.97
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2,815,365
102.45% of 50 DAV
50 DAV is 2,748,000
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$98.15
-2.92%
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7/30/2024
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$93.95
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PP = $85.52
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MB = $89.80
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Most Recent Note - 9/12/2024 5:07:59 PM
G - Posted a 2nd consecutive small gain today with below-average volume after recent losses backed by higher volume. Its 50 DMA ($89) line defines important near-term support above prior highs in the $85 area.
>>> FEATURED STOCK ARTICLE : Holding Ground Near All-Time High After Pullback Testing Support - 8/29/2024 |
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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 |
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Max Buy |
MELI
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NASDAQ
MercadoLibre
Retail-Internet
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$2,122.37
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-17.73
-0.83% |
$2,143.96
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256,587
81.20% of 50 DAV
50 DAV is 316,000
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$2,142.59
-0.94%
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8/5/2024
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$1,793.73
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PP = $1,792.15
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MB = $1,881.76
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Most Recent Note - 9/12/2024 1:59:03 PM
G - Powering to a new all-time high with today's big gain, getting extended from any sound base. Its 50 DMA line ($1,841) and prior highs define 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 |
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C
A
S
I |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$28.63
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+0.70
2.51% |
$29.36
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88,897
112.53% of 50 DAV
50 DAV is 79,000
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$28.31
1.13%
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9/5/2024
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$27.91
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PP = $27.60
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MB = $28.98
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Most Recent Note - 9/13/2024 2:52:15 PM
Y - Powering to a new 52-week high with today's 4th consecutive gain backed by below-average volume. Color code was changed to yellow in the 9/05/24 mid-day report as a valid secondary buy point was noted up to 5% above the prior high since finding support near its 10 WMA line after an earlier breakout. Reported earnings +29% on +10% sales revenues for the Jun '24 quarter versus the year-ago period, its 5th consecutive strong quarter above the +25% minimum earnings guideline (C criteria). Annual earnings growth has been steady.
>>> FEATURED STOCK ARTICLE : Following Pullback a Secondary Buy Point Exists - 9/5/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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.
This report is a service available
only to active Paid Premium Members.
You may opt-out of receiving report notifications
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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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