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AFTER MARKET UPDATE - THURSDAY, OCTOBER 8TH, 2015
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DOW |
+138.46 |
17,050.75 |
+0.82% |
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Volume |
897,737,110 |
-22% |
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Volume |
1,834,017,800 |
-6% |
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NASDAQ |
+19.64 |
4,810.79 |
+0.41% |
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Advancers |
2,408 |
78% |
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Advancers |
1,879 |
65% |
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S&P 500 |
+17.60 |
2,013.43 |
+0.88% |
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Decliners |
687 |
22% |
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Decliners |
1,013 |
35% |
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Russell 2000 |
+10.64 |
1,163.24 |
+0.92% |
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52 Wk Highs |
58 |
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52 Wk Highs |
61 |
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S&P 600 |
+7.88 |
687.57 |
+1.16% |
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52 Wk Lows |
12 |
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52 Wk Lows |
33 |
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Major Averages Rose Further With Less Volume Conviction
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished strongly on Thursday. The Dow gained 138 points to 17,050. The S&P 500 advanced 17 points to 2,013. The NASDAQ climbed 19 points to 4,810. However, the volume totals were reported lighter than the prior session totals on the NYSE and on the Nasdaq exchange, revealing less buying conviction from institutional investors. Breadth was solidly positive as advancers led decliners by almost a 4-1 margin on the NYSE and by nearly 2-1 on the Nasdaq exchange. Leadership improved as there were 41 stocks that made it onto the BreakOuts Page, up from the prior session total of 30 high-ranked companies from the Leaders List that made a new 52-week high. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. There were gains for only 2 of the 5 high-ranked companies currently on the Featured Stocks Page.
PICTURED: The Dow Jones Industrial Average has rebounded above its 50-day moving average (DMA) line and above prior highs with a solid streak of 5 consecutive gains. It found support above its August lows. Its MACD indicator has been bullish for most of the past month.
Solid follow-through gains for the major indices on Friday and Monday signaled a new confirmed uptrend (M criteria). However, all 3 major averages 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 moved higher as the Fed’s September meeting minutes reassured investors of intentions to lift interest rates within 2015. Economic data showed the number of jobless claims fell to 263,000 last week, from a downwardly revised 276,000 the week prior.
All 10 sectors of the S&P 500 finished in positive territory. Commodity producers were the best performers. Freeport McMoRan (FCX +3.46%) and Exxon Mobil (XOM +1.05%) advanced.General Electric Co (GE +0.94%) lifted industrial stocks as it rose. Consumer discretionary benefitted from Lumber Liquidator’s (LL +12.6%) rally after the company agreed to pay $13.2 million in fines.
M&A resurfaced as EMC Corp (EMC +4.70%) jumped amid reports of acquisition talks with Dell. VMWare (VMW -5.84%) slumped in response. BioMed Realty Trust Inc (BMR +8.62%) rose following an agreement to be acquired by Blackstone (BX -1.99%) for approximately $8 billion in cash. Rumors of takeover talks lifted Chemours (CC +7.12%).
Treasuries fell following the Fed’s meeting minutes release. The benchmark 10-year note sank 9/32 to yield 2.10%.
Commodities were mixed. WTI crude rallied 4% to $49.71/barrel. COMEX gold lost 0.4% to $1144.70/ounce despite dollar weakness.
The number of stocks listed to the Featured Stocks Page waned during deteriorating market conditions. The most current notes with headline links help members have access to more detailed letter-by-letter analysis including price/volume graphs annotated by our experts. See the Premium Member Homepage for archives to all prior pay reports.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy, Retail, Bank, Networking and Semiconductor Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Commodity-linked groups were mixed on Thursday as the Oil Services Index ($OSX +1.95%) and the Integrated Oil Index ($XOI +2.56%) added more to their recent big gains but the Gold & Silver Index ($XAU -0.60%) ended modestly lower. The Retail Index ($RLX +0.59%) and Bank Index ($BKX +0.42%) rose and had a positive influence on the major averages but the Broker/Dealer Index ($XBD -0.06%) finished flat. The Networking Index ($NWX +1.88%) led the tech sector while the Semiconductor Index ($SOX +0.55%) posted a smaller gain, but the Biotechnology Index ($BTK -0.80%) endured pressure.
Charts courtesy www.stockcharts.com
PICTURED: The Networking Index ($NWX +1.88%) halted its slide above its August lows and rebounded above its converging 50-day annd 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
185.63 |
+3.55 |
+1.95% |
-11.97% |
| Integrated Oil |
$XOI |
1,220.59 |
+30.52 |
+2.56% |
-9.46% |
| Semiconductor |
$SOX |
634.81 |
+3.49 |
+0.55% |
-7.58% |
| Networking |
$NWX |
381.97 |
+7.04 |
+1.88% |
+6.71% |
| Broker/Dealer |
$XBD |
170.00 |
-0.11 |
-0.06% |
-7.93% |
| Retail |
$RLX |
1,218.49 |
+7.15 |
+0.59% |
+17.99% |
| Gold & Silver |
$XAU |
53.65 |
-0.33 |
-0.61% |
-22.00% |
| Bank |
$BKX |
71.53 |
+0.30 |
+0.42% |
-3.68% |
| Biotech |
$BTK |
3,402.47 |
-27.59 |
-0.80% |
-1.07% |
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Holding Ground Following Volume-Driven Breakout
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Fleetmatics Group Plc (FLTX +$0.51 or +0.94% to $54.64) is perched at its 52-week high following a considerable volume-driven gain on 10/05/15 that triggered a technical buy signal. The high-ranked Ireland-based Computer Software - Enterprise found support near the 50-day moving average (DMA) line during its recentr consolidation. It was last shown in this FSU section on 9/23/15 with an annotated graph under the headline, "Perched New Prior High After Big Streak Of Gains", was highlighted in yellow with pivot point cited based on its 8/07/15 high plus 10 cents.
The number of top-rated funds owning its share rose from 280 in Dec '14 to 322 in Jun '15, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.2 is an unbiased indication its shares have been under accumulation over the past 50 days.
The high-ranked Ireland-based Computer Software - Enterprise firm found support at its 200 DMA line during its consolidation since last noted with caution at its 52-week high in the 8/07/15 mid-day report "Reported earnings +83% on +24% sales revenues for the Jun '15 quarter, its 3rd consecutive quarterly earnings comparison above the +25% minimum guideline (C criteria). That helps it better match the fact-based investment system's guidelines however sequential quarterly comparisons have shown deceleration in its growth rate. Gapped up today hitting a new 52-week high, and no resistance remains due to overhead supply. Encountered distributional pressure following a technical breakout on 7/27/15, then found support above its 50 DMA line during its recent consolidation."
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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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$140.36
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+5.17
3.82% |
$140.43
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351,029
111.09% of 50 DAV
50 DAV is 316,000
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$135.72
3.42%
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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 - 10/5/2015 6:10:05 PM
G - Rebounded near prior highs and no resistance remains due to overhead supply. The "V" shaped consolidation over the past 10 weeks is not recognized as a sound base. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Rebounding Near Prior High After "V" Shaped Consolidation - 10/5/2015 |
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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$165.05
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-0.86
-0.52% |
$167.74
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955,488
99.74% of 50 DAV
50 DAV is 958,000
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$176.77
-6.63%
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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 - 10/5/2015 6:15:45 PM
G - Rose further above its 50 DMA line with today's 4th consecutive gain. 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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$54.13
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+0.45
0.84% |
$55.24
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594,624
169.89% of 50 DAV
50 DAV is 350,000
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$55.38
-2.26%
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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 - 10/7/2015 12:45:30 PM
Y - Perched at its 52-week high following a considerable volume-driven gain that triggered a technical buy signal. The high-ranked Ireland-based Computer Software - Enterprise firm's prompt rebound above the 50 DMA line helped its outlook to improve.
>>> 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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$66.43
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+0.14
0.21% |
$67.86
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218,183
87.62% of 50 DAV
50 DAV is 249,000
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$68.85
-3.51%
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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 - 10/5/2015 6:14:28 PM
G - Rebounded further above its 50 DMA line toward prior highs with below average volume behind today's gain. Little resistance remains due to overhead supply however it has not formed a sound base.
>>> 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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$44.42
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-2.34
-5.00% |
$46.82
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819,840
245.46% of 50 DAV
50 DAV is 334,000
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$55.98
-20.65%
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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 - 10/6/2015 6:26:45 PM
G - Slumped below its 50 DMA line today, raising concerns amid widespread losses in the Medical group. Recent low ($44.23 on 9/28/15) defines important near-term support below the 50 DMA line.
>>> 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 |
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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.
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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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