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AFTER MARKET UPDATE - THURSDAY, OCTOBER 1ST, 2015
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DOW |
-12.69 |
16,272.01 |
-0.08% |
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Volume |
960,308,670 |
-20% |
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Volume |
1,936,579,780 |
-9% |
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NASDAQ |
+6.92 |
4,627.08 |
+0.15% |
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Advancers |
1,501 |
49% |
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Advancers |
1,210 |
40% |
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S&P 500 |
+3.79 |
1,923.82 |
+0.20% |
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Decliners |
1,545 |
51% |
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Decliners |
1,795 |
60% |
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Russell 2000 |
-3.15 |
1,097.54 |
-0.29% |
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52 Wk Highs |
10 |
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52 Wk Highs |
18 |
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S&P 600 |
-3.22 |
646.97 |
-0.50% |
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52 Wk Lows |
169 |
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52 Wk Lows |
197 |
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Major Averages Show Little Decisiveness or Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks were mixed on Thursday. The Dow was off 12 points to 16272. The S&P 500 gained 3 points to 1923. The NASDAQ added 6 points to 4627. The volume totals were reported lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Decliners led advancers by a 3-2 margin on the Nasdaq exchange while the mix was fairly even on the NYSE. Leadership remained rather thin as there were 10 stocks that made it onto the BreakOuts Page, up from the prior session total of 8 high-ranked companies from the Leaders List that made a new 52-week high on the prior session. The total number of new 52-week lows still solidly outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. There were gains for 3 of the 5 high-ranked companies currently on the Featured Stocks Page.
PICTURED: The Nasdaq Composite Index undercut its Day 1 (8/26/15) lows recently, technically ending the latest rally. It met resistance at its 200-day moving average (DMA) line when rebounding. The latest slide toward the late-August lows came with higher volume behind the losses. Its MACD indicator is currently bearish.
The recent rally ended due to damaging losses and waning leadership as stocks retreated. The fact-based investment system requires disciplined investors to always limit losses by selling any stock that falls more than -7% from their purchase price. All 3 major averages (M criteria) remain well below their 200-day moving average lines. Members have been repeatedly reminded in recent weeks that at least 2 of the 3 major indices should be trading above their respective 200-day moving average (DMA) lines in order for a market environment to be considered technically "healthy". A lot of recovery work must be done to get the indices back into healthy shape, and that improvement could require some considerable time and patience.
The major averages fluctuated on the heels of the worst quarter for stocks since 2011. In economic news, initial jobless claims came in higher than expected, but still near recent lows. Separate releases showed September ISM manufacturing numbers were slightly lower than analyst consensus while market manufacturing PMI for the month was revised higher. Overseas, an important gauge of Chinese manufacturing suggested possible stabilization after a decidedly negative number last month.
Five sectors in the S&P 500 retreated on the day. Utilities and telecom stocks lagged while the materials and healthcare sectors paced the gains. In corporate action, Dunkin Brands (DNKN -12.24%) fell after a negative earnings pre-announcement. McCormick & Co (MKC -4.26%) fell after missing earnings estimates. Celgene (CELG +4.34%) rose while Workday (WDAY +4.85%) advanced after each company received positive analyst commentary.
Treasuries were mixed with the yield curve flattening. The benchmark 10-year U.S. note was 1/32 higher to yield 2.03%.
Commodities were mixed as well. WTI crude declined 0.3% to $44.94/barrel in a choppy session while COMEX gold slid 0.1% to $1114.20/ounce. In FOREX, the dollar lost ground against the euro.
The number of stocks listed to the Featured Stocks Page waned during deteriorating market conditions. The most current notes with headline links help members have access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail Index Rose While Commodity-Linked Groups Faced Pressure
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.91%) was a positive influence on the major averages along while financials were fairly quiet. The Broker/Dealer Index ($XBD +0.21%) inched higher while the Bank Index ($BKX +0.04%) was unchanged. The tech sector was mixed as the Semiconductor Index ($SOX -1.18%) fell worst, the Networking Index ($NWX -0.22%) edged lower, and the Biotechnology Index ($BTK +0.25%) edged higher. The Gold & Silver Index ($XAU -2.28%) and the Oil Services Index ($OSX -1.51%) both fell on Thursday while the Integrated Oil Index ($XOI +0.87%) posted a gain.
Charts courtesy www.stockcharts.com
PICTURED: The Oil Services Index ($OSX -1.51%) has slumped near multi-year lows after its 50-day moving average (DMA) line recently acted as resistance.
| Oil Services |
$OSX |
155.81 |
-2.39 |
-1.51% |
-26.11% |
| Integrated Oil |
$XOI |
1,067.60 |
+9.25 |
+0.87% |
-20.81% |
| Semiconductor |
$SOX |
595.62 |
-7.11 |
-1.18% |
-13.28% |
| Networking |
$NWX |
357.36 |
-0.77 |
-0.22% |
-0.16% |
| Broker/Dealer |
$XBD |
165.79 |
+0.35 |
+0.21% |
-10.21% |
| Retail |
$RLX |
1,186.20 |
+10.74 |
+0.91% |
+14.86% |
| Gold & Silver |
$XAU |
45.20 |
-1.05 |
-2.27% |
-34.28% |
| Bank |
$BKX |
69.84 |
+0.03 |
+0.04% |
-5.95% |
| Biotech |
$BTK |
3,429.55 |
+8.70 |
+0.25% |
-0.28% |
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Met Resistance at 50-Day Moving Average Following Violation
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Inogen Inc (INGN -$1.30 or -2.68% to $47.25) met resistance at its 50-day moving average (DMA) line when trying to rebound then fell on higher volume today. It raised concerns and triggered a technical sell signal with big volume-driven losses undercutting its 50 DMA line. Prior highs near $45 acted as support. Any more damaging losses would raise serious concerns.
INGN was last shown in this FSU section on 9/16/15 with an annotated graph under the headline, "Another New High Close For Medical Products Firm", getting more extended from its prior base. Technically, it broke out with a gap up and considerable volume-driven gain when highlighted in yellow with pivot point cited based on its 6/23/15 high plus 10 cents in the 8/12/15 mid-day report (read here).
It reported Jun '15 earnings +55% on 45% sales revenues, its 4th consecutive quarterly earnings increase above the +25% minimum guideline (C criteria). During that time its sales revenues growth has been in the +43-49% range, a reassuring sign of increasing demand for its new products and services (N criteria).
The number of top-rated funds owning its shares rose from 114 in Sep '14 to 202 in Jun '15, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.7 is an unbiased indication its shares have been under accumulation over the past 500 days. Its small supply of only 13.4 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling.
Its limited history was previously noted as a concern, yet it is up considerably from its $16 IPO on 2/14/14 followed by a Secondary Offering on 10/30/14.
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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 |
BOFI
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NASDAQ
B O F I Holding Inc
BANKING - Savings andamp; Loans
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$129.82
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+0.99
0.77% |
$131.48
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470,792
155.89% of 50 DAV
50 DAV is 302,000
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$134.79
-3.69%
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6/10/2015
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$101.47
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PP = $97.78
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MB = $102.67
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Most Recent Note - 9/30/2015 6:01:43 PM
G - Rebounding toward prior highs and little resistance remains through the $134 level. Its "V" shaped consolidation over the past 9 weeks is not recognized as a sound base.
>>> FEATURED STOCK ARTICLE : Slumped Below 50-Day Average With Higher Volume Loss - 9/18/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
ULTA
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NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other
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$165.59
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+2.24
1.37% |
$165.59
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821,829
87.71% of 50 DAV
50 DAV is 937,000
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$176.77
-6.32%
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5/29/2015
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$155.03
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PP = $159.95
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MB = $167.95
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Most Recent Note - 10/1/2015 5:44:09 PM
G - Still consolidating near its 50 DMA line ($165). It has not formed a sound base following the deep shakeout on 8/24/15.
>>> FEATURED STOCK ARTICLE : Consolidating Above 50-Day Moving Average Line - 9/21/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
FLTX
-
NYSE
Fleetmatics Group Plc
Computer Sftwr-Enterprse
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$48.01
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-1.08
-2.20% |
$49.37
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613,631
189.39% of 50 DAV
50 DAV is 324,000
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$52.45
-8.47%
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9/23/2015
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$51.26
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PP = $52.55
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MB = $55.18
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Most Recent Note - 10/1/2015 12:34:37 PM
G - Pulling back below its 50 DMA line ($47.81) today raising concerns and its color code is changed to green. A prompt rebound above the 50 DMA line is needed for its outlook to improve. Failed to breakout after previously noted - "Subsequent volume-driven gains for new highs may trigger a technical buy signal for the high-ranked Ireland-based Computer Software - Enterprise firm."
>>> FEATURED STOCK ARTICLE : Perched New Prior High After Big Streak Of Gains - 9/23/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
LXFT
-
NYSE
Luxoft Holding Inc Cl A
Comp Sftwr-Spec Enterprs
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$64.25
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+0.96
1.52% |
$64.39
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182,226
71.46% of 50 DAV
50 DAV is 255,000
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$68.85
-6.68%
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5/26/2015
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$51.90
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PP = $57.40
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MB = $60.27
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Most Recent Note - 9/30/2015 5:57:17 PM
G - Rebounded above its 50 DMA line helping its outlook improve, but it has not formed a sound base. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain and Rebound Above 50-Day Moving Average Line - 9/30/2015 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
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$47.25
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-1.30
-2.68% |
$49.35
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387,287
122.95% of 50 DAV
50 DAV is 315,000
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$55.98
-15.59%
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8/12/2015
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$49.01
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PP = $45.85
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MB = $48.14
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Most Recent Note - 10/1/2015 5:43:11 PM
G - Met resistance at its 50 DMA line when trying to rebound after finding support at prior highs near $45. More damaging losses may raise greater concerns. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Met Resistance at 50-Day Moving Average Following Violation - 10/1/2015 |
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 |
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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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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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