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AFTER MARKET UPDATE - MONDAY, OCTOBER 2ND, 2017
Previous After Market Report Next After Market Report >>>
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DOW |
+152.51 |
22,557.60 |
+0.68% |
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Volume |
753,891,980 |
-19% |
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Volume |
1,990,153,730 |
+1% |
|
NASDAQ |
+20.76 |
6,516.72 |
+0.32% |
|
Advancers |
1,895 |
65% |
|
Advancers |
1,735 |
69% |
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S&P 500 |
+9.76 |
2,529.12 |
+0.39% |
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Decliners |
1,039 |
35% |
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Decliners |
791 |
31% |
|
Russell 2000 |
+18.61 |
1,509.47 |
+1.25% |
|
52 Wk Highs |
264 |
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|
52 Wk Highs |
349 |
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S&P 600 |
+13.01 |
916.99 |
+1.44% |
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52 Wk Lows |
19 |
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52 Wk Lows |
25 |
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Major Indices Rally for Record Highs Again
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished firmly in positive territory on Monday. The Dow jumped 153 points to 22557. The S&P 500 added 10 points to 2529. The Nasdaq Composite was up 21 points to 6516. Volume totals reported were mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. Breadth was positive as advancers led decliners by nearly a 2-1 margin on the NYSE and more than a 2-1 margin on the Nasdaq exchange. There were 132 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 96 on the prior session. New 52-week highs totals expanded and outnumbered new 52-week lows totals on the Nasdaq exchange and on the NYSE. The Featured Stocks Page provides the latest analysis on noteworthy high-ranked leaders. Charts used courtesy of www.stockcharts.com
 PICTURED: The Nasdaq Composite Index hit a new record high with a 5th consecutive gain. In mid-August it found support above the prior low after undercutting its 50-day moving average (DMA) line.
The major averages' (M criteria) are in a confirmed uptrend. Leadership has remained healthy. Investors should buy stocks meeting all key criteria of the fact-based investment system on a case-by-case basis as they trigger technical buy signals.
The major averages climbed to record levels and the dollar advanced to a five month high as investors reacted positively to several economic updates. The Institute for Supply Management revealed its U.S. manufacturing index jumped to 60.8, its highest level since May of 2004, and the above consensus estimate of 58.8. Research firm Markit revised its PMI Manufacturing figure upwards to 53.1 from the previously reported 53.0.
Seven of 11 S&P 500 sectors were positive on the day with Healthcare and Materials pacing gains. Shares of Regeneron Pharmaceuticals (REGN +3.38%). DowDuPont (DWDP +1.72%) rose. Financials also outperformed with Goldman Sachs (GS +1.46%) rising. General Motors (GM +4.38%) was a notable gainer, up on positive analyst commentary. Casino operators finished the session lower led by MGM Resorts (MGM -5.58%) following Sunday’s tragedy in Las Vegas.
Treasuries prices were slightly lower with the yield on the benchmark 10-year rising one basis point to 2.34%. In commodities, NYMEX WTI crude fell 2.2% to $50.55/barrel on concerns of growing U.S. and OPEC output. COMEX gold retreated 0.7% to $1272.70/ounce. In FOREX trading, the U.S. dollar index was up 0.6% against its peers. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech and Financial Groups Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Monday the Broker/Dealer Index ($XBD +1.10%) and Bank Index ($BKX +0.55%) rose but the Retail Index ($RLX -0.01%) finished flat. The tech sector saw unanimous gains from Biotechnology Index ($BTK +1.88%), Networking Index ($NWX +1.50%), and Semiconductor Index ($SOX +0.60%), . The Gold & Silver Index ($XAU +0.44%) had a slightly positive bias as the Oil Services Index ($OSX -1.29%) fell and the Integrated Oil Index ($XOI +0.00%) was unchanged. Charts courtesy www.stockcharts.com
 PICTURED: The Gold & Silver Index ($XAU +0.44%) is sputtering below its 50-day moving average (DMA) line, near its 200-day moving average (DMA) line.
| Oil Services |
$OSX |
140.33 |
-1.84 |
-1.29% |
-23.65% |
| Integrated Oil |
$XOI |
1,216.20 |
+0.06 |
+0.00% |
-4.08% |
| Semiconductor |
$SOX |
1,178.75 |
+7.01 |
+0.60% |
+30.04% |
| Networking |
$NWX |
472.02 |
+6.96 |
+1.50% |
+5.81% |
| Broker/Dealer |
$XBD |
244.11 |
+2.65 |
+1.10% |
+18.92% |
| Retail |
$RLX |
1,522.98 |
-0.21 |
-0.01% |
+13.40% |
| Gold & Silver |
$XAU |
85.03 |
+0.38 |
+0.45% |
+7.82% |
| Bank |
$BKX |
99.81 |
+0.55 |
+0.55% |
+8.74% |
| Biotech |
$BTK |
4,282.21 |
+78.89 |
+1.88% |
+39.26% |
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Gain Above 50-Day Moving Average Line Helped Technical Stance
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Grubhub Inc (GRUB +$1.01 or +1.92% to $53.67) posted a gain today with near average volume as it rebounded above its 50-day moving average (DMA) line ($53.06) helping its outlook to improve. More damaging losses below the recent low ($49.60 on 9/22/17) would raise greater concerns. The next near-term support is prior highs in the $47 area.
Recently it reported earnings +13% on +32% sales revenues for the Jun '17 quarter, below the +25% minimum earnings guideline (C criteria) raising fundamental concerns Only 2 of the past four quarterly earnings were above the +25% minimum guideline (C criteria). Its annual earnings (A criteria) history has been very strong since the high ranked Internet Content firm completed a new Public Offering on 9/03/14.
GRUB was last shown in this FSU section on 9/07/17 with an annotated graph under the headline, "Touched New High With Quiet Gain From Brief Consolidation" . It has traded up +30.2% since first highlighted in yellow with pivot point cited based on its 9/29/16 high plus 10 cents in the 4/28/17 mid-day report (read here).
The number of top-rated funds owning its shares rose from 318 in Jun '16 to 413 in Jun '17, a reassuring sign concerning the I criteria. The current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been under slight accumulation over the past 50 days. It has a fairly small supply of only 83.8 million shares (S criteria) outstanding, which can contribute to greater price volatility in the event of institutional buying or selling.
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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 |
MPX
-
NYSE
Marine Products Corp
AUTOMOTIVE - Recreational Vehicles
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$16.36
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+0.31
1.93% |
$16.44
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34,635
93.61% of 50 DAV
50 DAV is 37,000
|
$17.12
-4.44%
|
9/26/2017
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$16.30
|
PP = $16.35
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|
MB = $17.17
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Most Recent Note - 9/29/2017 12:53:13 PM
Y - Encountered damaging distributional pressure with a big loss today on higher volume. Members were cautioned in the prior note 5:19PM 9/27/17 - "Hit yet another new high with today's 6th consecutive gain, however, volume was only +13% above average, not indicative of heavy institutional buying demand. It was highlighted in yellow with pivot point cited based on its 7/12/17 high plus 10 cents in the 9/26/17 mid-day report. Gains above the pivot point must be backed by at least +40% above average volume to clinch a convincing technical buy signal. See the latest FSU analysis for more details and an annotated graph."
>>> FEATURED STOCK ARTICLE : Powerboat Maker Hit Another New 52-Week High - 9/26/2017 |
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C
A
S
I |
THO
-
NYSE
Thor Industries Inc
AUTOMOTIVE - Recreational Vehicles
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$127.87
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+1.96
1.56% |
$128.05
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1,451,895
234.55% of 50 DAV
50 DAV is 619,000
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$127.12
0.59%
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8/14/2017
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$106.67
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PP = $110.01
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MB = $115.51
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Most Recent Note - 10/2/2017 9:33:58 PM
G - Hit yet another new 52-week high with today's 6th consecutive volume-driven gain, getting more extended from the previously noted base. Prior highs in the $115 area define initial support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Wedged to New High Then Ended the Session Weak - 9/18/2017 |
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C
A
S
I |
AVGO
-
NASDAQ
Broadcom Limited
ELECTRONICS - Semiconductor - Broad Line
|
$240.47
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-2.07
-0.85% |
$245.31
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1,943,079
74.91% of 50 DAV
50 DAV is 2,594,000
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$259.36
-7.28%
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8/24/2017
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$252.44
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PP = $256.89
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MB = $269.73
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Most Recent Note - 9/26/2017 6:15:21 PM
G - Halted its slide with a volume-driven gain today. Found support after undercutting recent lows in the $238-240 area with volume-driven losses triggering more worrisome technical sell signals. A rebound above the 50 DMA line ($248) is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Technical Deterioration Raises Concerns - 9/21/2017 |
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C
A
S
I |
YY
-
NASDAQ
YY Inc Ads
INTERNET - Internet Service Providers
|
$90.13
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+3.35
3.86% |
$90.66
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1,502,439
85.12% of 50 DAV
50 DAV is 1,765,000
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$89.37
0.85%
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9/25/2017
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$80.26
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PP = $83.10
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MB = $87.26
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Most Recent Note - 10/2/2017 9:33:13 PM
G - Color code is changed to green after hitting another new 52-week high and rising above its "max buy" level with today's 5th consecutive volume-driven. Recent gains above the pivot point triggered a technical buy signal. Prior highs in the $83 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure When Challenging Prior HIgh - 9/25/2017 |
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C
A
S
I |
STMP
-
NASDAQ
Stamps.com Inc
INTERNET - Internet Software and Services
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$211.60
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+8.95
4.42% |
$211.60
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361,189
79.73% of 50 DAV
50 DAV is 453,000
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$220.25
-3.93%
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9/11/2017
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$193.65
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PP = $220.35
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MB = $231.37
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Most Recent Note - 10/2/2017 9:30:22 PM
Y - Posted a big gain today with light volume, riaing toward the new pivot point cited based on its 8/07/17 high plus 10 cents. Faces little near-term resistance. Subsequent volume-driven gains above the pivot point are needed to trigger a new (or add-on) technical buy signal. Recent low ($185.80 on 9/05/17) and its 50 DMA line ($194) define important near-term support where violations would trigger technical sell signals. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : New Base Being Built After Considerable Gap Higher - 9/11/2017 |
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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 |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$117.93
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-0.89
-0.75% |
$121.34
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245,653
69.79% of 50 DAV
50 DAV is 352,000
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$126.29
-6.62%
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9/29/2016
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$46.12
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PP = $47.82
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MB = $50.21
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Most Recent Note - 9/25/2017 3:13:42 PM
G - Pulling back from its all-time high with today's 4th consecutive loss, still very extended from any sound base. Recently reported earnings +19% on +18% sales revenues for the Jun '17 quarter, below the +25% minimum earnings guideline (C criteria). Its 50 DMA line ($106.51) defines near-term support.
>>> FEATURED STOCK ARTICLE : Considerable Rally However Fundamental Concerns Were Raised - 9/12/2017 |
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C
A
S
I |
LMAT
-
NASDAQ
Lemaitre Vascular Inc
Medical-Products
|
$37.78
|
+0.36
0.96% |
$37.84
|
198,175
93.48% of 50 DAV
50 DAV is 212,000
|
$39.29
-3.85%
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7/28/2017
|
$33.50
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PP = $33.32
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MB = $34.99
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Most Recent Note - 9/27/2017 5:36:00 PM
G - Posted a 2nd consecutive gain today on light volume. The 50 DMA line ($34.81) defines near-term support to watch above prior highs in the $33 area.
>>> FEATURED STOCK ARTICLE : Quietly Pulling Back From High After More Volume-Driven Gains - 9/22/2017 |
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C
A
S
I |
ESNT
-
NYSE
Essent Group Ltd
Finance-MrtgandRel Svc
|
$40.34
|
-0.16
-0.40% |
$40.66
|
663,240
91.86% of 50 DAV
50 DAV is 722,000
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$41.44
-2.65%
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7/3/2017
|
$38.05
|
PP = $39.60
|
|
MB = $41.58
|
Most Recent Note - 9/29/2017 6:36:07 PM
Y - Consolidating above its 50 DMA line with very little resistance remaining due to overhead supply. See the latest FSU analysis for more details for a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Within Close Striking Distance of Prior High - 9/29/2017 |
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C
A
S
I |
OLED
-
NASDAQ
Universal Display Corp
Elec-Misc Products
|
$126.60
|
-2.25
-1.75% |
$130.65
|
821,643
94.33% of 50 DAV
50 DAV is 871,000
|
$145.30
-12.87%
|
8/31/2017
|
$128.22
|
PP = $127.78
|
|
MB = $134.17
|
Most Recent Note - 9/28/2017 6:00:43 PM
Y - Holding its ground after pulling back near prior highs in the $127-130 area. Its 50 DMA line ($122.36) defines the next important support to watch. See the latest FSU analysis for more details and a new annotated graph
>>> FEATURED STOCK ARTICLE : Consolidating Near Prior Highs Following Recent Breakout - 9/28/2017 |
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C
A
S
I |
ANET
-
NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment
|
$190.43
|
+0.82
0.43% |
$191.85
|
465,586
53.70% of 50 DAV
50 DAV is 867,000
|
$193.24
-1.45%
|
8/4/2017
|
$173.31
|
PP = $163.07
|
|
MB = $171.22
|
Most Recent Note - 9/25/2017 3:10:58 PM
G - Reversed into the red today after hitting yet another new all-time high. extended from any sound base and its 50 DMA line ($168.75) defines important near-term support to watch. Fundamentals remain very strong.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After Additional Volume-Driven Gains - 9/19/2017 |
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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 |
GRUB
-
NYSE
Grubhub Inc
COMPUTER SOFTWARE and SERVICES - Technical and System Software
|
$53.67
|
+1.01
1.92% |
$53.70
|
1,666,809
86.27% of 50 DAV
50 DAV is 1,932,000
|
$57.61
-6.84%
|
6/21/2017
|
$47.33
|
PP = $46.94
|
|
MB = $49.29
|
Most Recent Note - 10/2/2017 9:28:37 PM
G - Posted a gain today with near average volume, rebounding above its 50 DMA line, helping its outlook to improve. More damaging losses below the recent low ($49.60 on 9/22/17) would raise greater concerns. The next near-term support is prior highs in the $47 area. Recently reported earnings +13% on +32% sales revenues for the Jun '17 quarter, below the +25% minimum earnings guideline (C criteria) raising fundamental concerns. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Gain Above 50-Day Moving Average Line Helped Technical Stance - 10/2/2017 |
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C
A
S
I |
IBP
-
NYSE
Installed Building Prod
DIVERSIFIED SERVICES - Business/Management Services
|
$66.35
|
+1.55
2.39% |
$66.45
|
181,250
118.46% of 50 DAV
50 DAV is 153,000
|
$65.60
1.14%
|
9/19/2017
|
$59.15
|
PP = $60.10
|
|
MB = $63.11
|
Most Recent Note - 9/28/2017 12:34:39 PM
Y - There was a "negative reversal" after early gains into new high territory today following 2 consecutive volume-driven gains. Color code is changed to yellow after retreating below its "max buy" level. Prior highs in the $60 area define initial support after the technical breakout this week.
>>> FEATURED STOCK ARTICLE : Found Prompt Support Near Prior Highs and 50 Day Average - 9/13/2017 |
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C
A
S
I |
NCOM
-
NASDAQ
National Commerce Corp
BANKING - Regional - Southeast Banks
|
$43.20
|
+0.40
0.93% |
$43.33
|
62,335
173.15% of 50 DAV
50 DAV is 36,000
|
$43.80
-1.37%
|
4/25/2017
|
$38.95
|
PP = $40.09
|
|
MB = $42.09
|
Most Recent Note - 9/27/2017 5:27:12 PM
G - Hit another new 52-week high with today's 4th consecutive gain adding to an impressive spurt of volume-driven gains. Recently reported Jun '17 earnings +23% on +45% sales revenues, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Relative Strength Rating Fell Below 80+ Minimum Guideline - 9/14/2017 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$46.10
|
-0.30
-0.65% |
$46.40
|
521,539
92.64% of 50 DAV
50 DAV is 563,000
|
$46.70
-1.28%
|
9/8/2017
|
$45.20
|
PP = $46.18
|
|
MB = $48.49
|
Most Recent Note - 9/27/2017 5:31:21 PM
Y - Found support at its 50 DMA line ($44.40) and posted a solid gain today ending near its session high and near its all-time high. New pivot point cited was based on its 8/01/17 high plus 10 cents. Subsequent gains above the latest pivot point with at least the minimum +40% above average volume may trigger a proper new (or add-on) technical buy signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : New Pivot Point Cited After Rebound From Below 50-Day Average - 9/8/2017 |
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A
S
I |
HLI
-
NYSE
Houlihan Lokey Inc Cl A
Finance-Invest Bnk/Bkrs
|
$39.45
|
+0.32
0.82% |
$39.46
|
122,959
53.00% of 50 DAV
50 DAV is 232,000
|
$39.68
-0.58%
|
9/18/2017
|
$37.04
|
PP = $39.78
|
|
MB = $41.77
|
Most Recent Note - 9/27/2017 5:15:36 PM
Y - Rebounded further above its 50 DMA line ($36.48) today and finished near the session high. Approaching the new pivot point cited based on its 7/26/17 plus 10 cents. Subsequent volume-driven gains for new highs may trigger a new (or add-on) technical buy signal. Subsequent losses below the recent low ($34.41 on 8/18/17) would raise more serious concerns and trigger a technical sell signal. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Rebounding Toward Prior High and New Pivot Point - 9/27/2017 |
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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 |
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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
at any time. Questions or comments may be submitted
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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