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AFTER MARKET UPDATE - TUESDAY, OCTOBER 4TH, 2016
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DOW |
-85.40 |
18,168.45 |
-0.47% |
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Volume |
876,198,860 |
+10% |
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Volume |
1,563,339,770 |
+7% |
|
NASDAQ |
-11.21 |
5,289.66 |
-0.21% |
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Advancers |
834 |
28% |
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Advancers |
1,091 |
38% |
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S&P 500 |
-10.71 |
2,150.49 |
-0.50% |
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Decliners |
2,142 |
72% |
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Decliners |
1,761 |
62% |
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Russell 2000 |
-6.01 |
1,239.78 |
-0.48% |
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52 Wk Highs |
68 |
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52 Wk Highs |
85 |
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S&P 600 |
-3.58 |
750.66 |
-0.47% |
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52 Wk Lows |
23 |
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52 Wk Lows |
35 |
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Indices Get Hit With Distributional Pressure Again
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Tuesday. The Dow was down 85 points to 18168. The S&P 500 lost 10 points to 2150 and the Nasdaq Composite fell 11 points to 5289. The volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange, indicating distributional pressure. Decliners led advancers by 5-2 on the NYSE and nearly 3-2 on the Nasdaq exchange. There were 25 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 14 on the prior session. New 52-week highs totals outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange. PICTURED: The Dow Jones Industrial Average is sputtering below its 50-day moving average (DMA) line, still only -2.7% off record highs.
The recent move into new high territory for the Nasdaq Composite Index was noted as a sign of technical strength in the market (M criteria) reassuring investors. The S&P 500 Index and the Dow Jones Industrial Average have still been sputtering below their 50 DMA lines. The Featured Stocks Page lists noteworthy high-ranked leaders.
The major averages declined for a second session as the dollar rallied and investors digested hawkish comments from Federal Reserve officials. Richmond President Jeffrey Lacker stated that pre-emptive increases in the fed funds rate are likely to play a role in maintaining the stability of inflation. On Monday, Cleveland President Loretta Mester said that the economy is ripe for an interest rate increase and a policy decision could come at the Fed’s November meeting. On the data front, the IMF forecasted advanced economies will slow this year to 1.6% growth.
Ten of 11 sectors in the S&P 500 finished in negative territory. In the consumer space, Polaris Industries (PII -4.43%) fell amid reports recent recalls have damaged the company’s brand. Utilities declined with AES Corp (AES -4.17%) fell after being the subject of negative analyst commentary. In earnings, Darden Restaurants (DRI +0.59%) edged higher as the company raised its full-year guidance. Shares of Alphabet (GOOG +0.50%) inched higher after Google unveiled a new smartphone at its Pixel event today.
Treasuries declined with the benchmark 10-year note down 17/32 to yield 1.68%. In commodities, NYMEX WTI crude fell 0.4% to $48.64/barrel. COMEX gold retreated 3.3% to $1266.30/ounce. In FOREX, the Dollar Index advanced 0.4%. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial Groups Rose But Broader Weakness Dragged on Market
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.26%) and the Bank Index ($BKX +1.11%) both ended higher on Tuesday but failed to offset negative influences on the major averages elsewhere. The Retail Index ($RLX -0.22%) edged lower. The Semiconductor Index ($SOX -0.26%), Networking Index ($NWX -0.34%), and the Biotechnology Index ($BTK -0.83%) ended unanimously lower. The Gold & Silver Index ($XAU -9.39%) was a standout decliner and the Oil Services Index ($OSX -1.03%) and the Integrated Oil Index ($XOI -0.51%) both ended lower. Charts courtesy www.stockcharts.com
PICTURED: The Oil Services Index ($OSX -1.03%) recently rebounded above its 50-day and 200-day moving average (DMA) lines, ending September on a high note.
| Oil Services |
$OSX |
161.29 |
-1.67 |
-1.02% |
+2.26% |
| Integrated Oil |
$XOI |
1,146.55 |
-5.85 |
-0.51% |
+6.88% |
| Semiconductor |
$SOX |
827.34 |
-2.15 |
-0.26% |
+24.70% |
| Networking |
$NWX |
400.86 |
-1.36 |
-0.34% |
+6.63% |
| Broker/Dealer |
$XBD |
173.52 |
+0.45 |
+0.26% |
-2.57% |
| Retail |
$RLX |
1,353.79 |
-3.03 |
-0.22% |
+5.48% |
| Gold & Silver |
$XAU |
83.42 |
-8.65 |
-9.40% |
+84.15% |
| Bank |
$BKX |
71.40 |
+0.78 |
+1.10% |
-2.30% |
| Biotech |
$BTK |
3,341.52 |
-27.87 |
-0.83% |
-12.39% |
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Gapped Up on News Being Added to S&P 600 Small Cap Index
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Ollie's Bargain Outlet (OLLI +$1.01 or +3.84% to $27.33) was highlighted in yellow with new pivot point cited based on its 9/01/16 high plus 10 cents in the earlier mid-day report (read here). It gapped up today rebounding well above its 50-day moving average (DMA) line with a considerable volume-driven gain on news it will replace Parkway Properties Inc. (PKY) in the S&P SmallCap 600 after the close on Wednesday, October 5th. OLLI was dropped from the Featured Stocks list on 9/14/16, and the rebound helped its outlook to improve. Members a reminded again - "Volume-driven gains above the pivot point are still needed to trigger a convincing technical buy signal."
The Retail-Discount and Variety firm completed a Secondary Offerings on 6/06/16 and 2/18/16. It reported earnings +50% on +16% sales revenues for the Jul '16 quarter, continuing its strong earnings track record with results above the +25% minimum earnings guideline (C criteria) for a 6th consecutive quarter. Its annual earnings (A criteria) history has been good.
It was last shown in this FSU section on 8/24/16 with an annotated graph under the headline, "Near High Awaiting Volume-Driven Gain to Trigger Technical Buy Signal".It was highlighted in yellow with pivot point cited based on its 4/28/16 high plus 10 cents in the 7/19/16 mid-day report (read here), but subsequent weakness led to it being dropped from the Featured Stocks list.
OLLI completed its $16 IPO on 7/16/15. The number of top-rated funds owning its shares rose from 98 in Sep '15 to 216 in Jun '16, a reassuring sign concerning the I criteria. Its small supply of only 60 million shares outstanding (S criteria) 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 |
|
Max Buy |
TDG
-
NYSE
Transdigm Group Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services
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$283.13
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-6.73
-2.32% |
$293.19
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732,786
231.16% of 50 DAV
50 DAV is 317,000
|
$294.38
-3.82%
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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 - 10/4/2016 1:06:50 PM
G - It has not formed a sound base and reversed into the red after early gains, slumping near its 50 DMA line ($284.59). Subsequent losses undercutting the 50 DMA line or recent low ($278.52) would raise concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Light Volume Behind Gains Wedging for New Highs - 9/7/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$16.74
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-0.94
-5.32% |
$17.85
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99,112
115.25% of 50 DAV
50 DAV is 86,000
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$18.16
-7.82%
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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 - 10/4/2016 5:25:18 PM
G - Retreated from its 52-week high toward its "max buy" level with 2 consecutive volume-driven losses. Recently found support at its 50 DMA line ($15.84).
>>> FEATURED STOCK ARTICLE : Wedging Higher With Recent Gains Lacking Great Volume - 9/27/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$248.60
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+3.74
1.53% |
$250.97
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998,690
87.84% of 50 DAV
50 DAV is 1,137,000
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$254.48
-2.31%
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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 - 9/30/2016 5:28:26 PM
G - Hovering near its all-time high, very extended from any sound base. Its 50 DMA line ($218) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After +37% Rally Since Featured 6/29/16 - 9/21/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$46.08
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+0.44
0.96% |
$46.20
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101,166
51.35% of 50 DAV
50 DAV is 197,000
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$47.72
-3.44%
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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 - 10/4/2016 5:29:29 PM
Y - Quietly holding its ground. New pivot point was recently cited based on its 8/29/16 high plus 10 cents. Subsequent volume-driven gains for new highs may trigger a new (or add-on) technical buy signal. Recent lows and its 50 DMA line define near term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Possibly Forming New Base While Holding Ground Near Highs - 9/20/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$62.91
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-0.01
-0.02% |
$63.46
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117,931
54.10% of 50 DAV
50 DAV is 218,000
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$69.53
-9.52%
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9/28/2016
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$64.85
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PP = $66.87
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MB = $70.21
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Most Recent Note - 9/30/2016 5:30:07 PM
G - Slumped below its 50 DMA line with today's loss on average volume and its color code is changed to green. Only a prompt rebound above the 50 DMA line would help its outlook improve. A new pivot point was cited based on its 9/06/16 high, however volume-driven gains are still needed to trigger a new (or add-on) technical buy signal. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Found Support While Building on a New "Double Bottom" Base Pattern - 9/28/2016 |
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Set NEW NOTE alert |
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News |
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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 |
LGIH
-
NASDAQ
L G I Homes Inc
Bldg-Resident/Comml
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$35.21
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-1.76
-4.76% |
$37.19
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552,049
105.96% of 50 DAV
50 DAV is 521,000
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$40.47
-13.00%
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8/29/2016
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$37.08
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PP = $36.44
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MB = $38.26
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Most Recent Note - 10/4/2016 5:27:44 PM
G - Color code is changed to green after violating its 50 DMA line ($35.81) today with a big loss on higher (near average) volume. Recent lows ($34.18 on 9/09/16) define important near-term support where further deterioration would raise greater concerns and trigger worrisome technical sell signals.
>>> FEATURED STOCK ARTICLE : 50-Day Moving Average Line Recently Acted as Support - 9/29/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
SFBS
-
NASDAQ
"ServisFirst Bancshares, Inc"
BANKING - Regional - Southeast Banks
|
$51.99
|
+0.17
0.33% |
$52.25
|
41,195
82.72% of 50 DAV
50 DAV is 49,800
|
$53.58
-2.97%
|
7/19/2016
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$53.28
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PP = $52.82
|
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MB = $55.46
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Most Recent Note - 9/30/2016 5:26:20 PM
G - Finished the week above its 50 DMA line with a volume-driven gain. Subsequent volume-driven gains for new highs would be a very reassuring sign of institutional buying demand. Relative Strength Rating is currently 74, below the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Relative Strength Rating is Under Guidelines While Perched Near Highs - 9/22/2016 |
View all notes |
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Company Profile |
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News |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$59.42
|
-0.03
-0.05% |
$59.97
|
56,760
30.68% of 50 DAV
50 DAV is 185,000
|
$61.87
-3.96%
|
8/5/2016
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$51.72
|
PP = $56.08
|
|
MB = $58.88
|
Most Recent Note - 10/3/2016 5:39:16 PM
G - Still stubbornly holding its ground, extended from any sound base. Its 50 DMA line ($57.20) defines important near-term support above its Sep '15 highs.
>>> FEATURED STOCK ARTICLE : Stubbornly Holding Ground Near All-Time High - 9/12/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$27.33
|
+1.01
3.84% |
$27.55
|
2,786,601
310.31% of 50 DAV
50 DAV is 898,000
|
$28.72
-4.84%
|
10/4/2016
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$27.36
|
PP = $28.70
|
|
MB = $30.14
|
Most Recent Note - 10/4/2016 5:23:28 PM
Y - It was highlighted in yellow with new pivot point cited based on its 9/01/16 high plus 10 cents. Gapped up today rebounding well above its 50 DMA line with a considerable volume-driven gain on news it will replace Parkway Properties Inc. (PKY) in the S&P SmallCap 600 after the close on Wednesday, October 5th. OLLI was dropped from the Featured Stocks list on 9/14/16, and the rebound helped its outlook to improve. Completed a Secondary Offerings on 6/06/16 and 2/18/16. 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." See the latest FSU analysis for additional details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Gapped Up on News Being Added to S&P 600 Small Cap Index - 10/4/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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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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