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AFTER MARKET UPDATE - MONDAY, SEPTEMBER 23RD, 2024
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DOW |
+38.17 |
42,603.36 |
+0.09% |
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Volume |
4,037,254,100 |
+286% |
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Volume |
10,425,414,200 |
+87% |
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NASDAQ |
-65.66 |
17,948.32 |
-0.36% |
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Advancers |
955 |
35% |
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Advancers |
1,484 |
35% |
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S&P 500 |
-11.09 |
5,702.55 |
-0.19% |
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Decliners |
1,761 |
65% |
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Decliners |
2,722 |
65% |
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Russell 2000 |
-24.82 |
2,227.89 |
-1.10% |
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52 Wk Highs |
242 |
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52 Wk Highs |
181 |
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S&P 600 |
-14.94 |
1,415.08 |
-1.04% |
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52 Wk Lows |
18 |
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52 Wk Lows |
121 |
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MC
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Dow Jones Industrial Average (+0.2%) and S&P 500 (+0.3%) extended further into record territory and the Nasdaq Composite settled 0.1% higher. The Russell 2000 underperformed, dropping 0.3% after outperforming its peers of late. The volume reported was much lighter than the prior session totals on the NYSE and on the Nasdaq exchange which were inflated by options expirations. Breadth was negative as decliners led advancers by almost a 2-1 margin on the NYSE and on the Nasdaq exchange. There were 84 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 81 on the prior session. New 52-week highs outnumbered 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 ended lower on Friday, pulling back from a new all-time high.
Many semiconductor stocks settled higher, leading the PHLX Semiconductor Index (SOX) to close 0.5% above Friday's settlement. TSMC (TSM +0.4%) was a story stock in the space after a Wall Street Journal report that TSMC and Samsung are considering new chip-making facilities in the United Arab Emirates.
Boeing (BA +2.0%) was higher after confirming that it substantially increased the machinist contract offer, attempting to end the strike.
This price action helped boost the S&P 500 industrial sector (+0.7%). Other sectors that outperformed the index included the energy (+1.3%), consumer discretionary (+1.3%), real estate (+1.1%), and utilities (+1.0%) sectors.
The 10-yr yield settled one basis point higher at 3.74% and the 2-yr yield settled one basis point higher at 3.58%. |
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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igw
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -0.87%) and the Bank Index ($BKX -0.48%) lost ground while the Retail Index ($RLX +0.44%) posted a small gain. The tech sector was mixed as the Semiconductor Index ($SOX -1.31%) and the Biotech Index ($BTK -0.67%) lost ground while the Networking Index ($NWX +0.89%) posted a small gain. The Gold & Silver Index ($XAU +1.49%) posted a solid gain. The Oil Services Index ($OSX +0.19%) inched higher while the Integrated Oil Index ($XOI -0.63%) edged lower.
PICTURED: The Gold & Silver Index ($XAU +1.49%) posted a gain for its best close while perched near its 2024 high.
| Oil Services |
$OSX |
79.55 |
+0.47 |
+0.60% |
-5.16% |
| Integrated Oil |
$XOI |
1,915.91 |
+8.86 |
+0.46% |
+2.87% |
| Semiconductor |
$SOX |
5,017.46 |
+17.39 |
+0.35% |
+20.17% |
| Networking |
$NWX |
1,133.19 |
+8.95 |
+0.80% |
+36.07% |
| Broker/Dealer |
$XBD |
691.47 |
+1.35 |
+0.19% |
+24.08% |
| Retail |
$RLX |
4,711.04 |
+20.65 |
+0.44% |
+21.14% |
| Gold & Silver |
$XAU |
161.83 |
+0.72 |
+0.45% |
+28.76% |
| Bank |
$BKX |
114.47 |
-0.49 |
-0.42% |
+19.21% |
| Biotech |
$BTK |
5,862.54 |
-47.55 |
-0.80% |
+8.19% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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 | $94.64 | -0.08
-0.08% | $96.12 | 23,840
32.66% of 50 DAV
50 DAV is 73,000 | $96.58
-2.01%
| 9/17/2024 | $71.26 | PP = $87.23 | | MB = $91.59 | Most Recent Note - 9/19/2024 2:45:02 PM
G - Hitting another new all-time high with today''s 12th consecutive gain backed by below-average volume. New pivot point was cited based on its 8/01/24 high plus 10 cents. Color code is changed to green after rising above its "max buy" level.
>>> FEATURED STOCK ARTICLE : US Lime & Minerals Lingers Below 50-Day Average - 9/6/2024 | 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 | $79.21 | -1.07
-1.33% | $81.38 | 565,415
85.93% of 50 DAV
50 DAV is 658,000 | $81.33
-2.61%
| 6/11/2024 | $59.76 | PP = $64.33 | | MB = $67.55 | Most Recent Note - 9/19/2024 1:12:09 PM
G - Hitting another new all-time high with today's big volume-driven gain. Its recent low and 50 DMA line coincide in the $70 area defining important near-term support to watch on pullbacks.
>>> 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 | $110.10 | +1.63
1.50% | $110.23 | 245,914
38.19% of 50 DAV
50 DAV is 644,000 | $109.70
0.36%
| 7/23/2024 | $96.92 | PP = $93.39 | | MB = $98.06 | Most Recent Note - 9/18/2024 9:01:36 PM
G - Posted an 8th consecutive gain today with below-average volume hitting yet another new 52-week high. Recently retested support near its 50 DMA line ($93.76).
>>> FEATURED STOCK ARTICLE : New High After Finding Prompt Support Near 50-Day Moving Average - 9/12/2024 | 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 | $174.64 | +4.93
2.90% | $175.65 | 503,656
66.18% of 50 DAV
50 DAV is 761,000 | $177.72
-1.73%
| 7/26/2024 | $173.08 | PP = $175.82 | | MB = $184.61 | Most Recent Note - 9/19/2024 2:43:21 PM
Y - Color code is changed to yellow with today''s big gain and rebound above the 50 DMA line ($167.77) helping its outlook to improve. Faces some resistance due to overhead supply up to the $177 level.
>>> 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 | $98.34 | +0.89
0.91% | $98.76 | 667,546
23.42% of 50 DAV
50 DAV is 2,850,000 | $98.29
0.05%
| 7/30/2024 | $93.95 | PP = $85.52 | | MB = $89.80 | Most Recent Note - 9/18/2024 8:57:47 PM
G - Volume totals have been cooling while consolidating in a tight range near its high. Its 50 DMA ($90.26) line defines 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 | $2,104.01 | +0.26
0.01% | $2,140.97 | 99,706
31.65% of 50 DAV
50 DAV is 315,000 | $2,157.64
-2.49%
| 8/5/2024 | $1,793.73 | PP = $1,792.15 | | MB = $1,881.76 | Most Recent Note - 9/18/2024 8:59:09 PM
G - Volume totals have been cooling while hovering near its all-time high. Its 50 DMA line ($1,877) defines 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 | NGVC - NYSE
Natural Grocers
Retail-Super/Mini Mkts | $28.36 | +0.05
0.18% | $28.72 | 58,106
70.01% of 50 DAV
50 DAV is 83,000 | $30.32
-6.46%
| 9/5/2024 | $27.91 | PP = $27.60 | | MB = $28.98 | Most Recent Note - 9/20/2024 11:29:17 PM
Y - Churned above average volume and ended lower for a 3rd consecutive session, retreating from its 52-week high. The color code is changed to yellow after retreating below its "max buy" level. Prior high in the $27 area defines initial support to watch on pullbacks. Fundamentals remain strong.
>>> 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 | Request a new note C A S I |
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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***
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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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