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AFTER MARKET UPDATE - TUESDAY, OCTOBER 8TH, 2024
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DOW |
+126.13 |
42,080.37 |
+0.30% |
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Volume |
832,517,761 |
-6% |
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Volume |
5,641,524,000 |
+6% |
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NASDAQ |
+259.01 |
18,182.92 |
+1.45% |
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Advancers |
1,428 |
52% |
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Advancers |
2,004 |
48% |
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S&P 500 |
+55.19 |
5,751.13 |
+0.97% |
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Decliners |
1,331 |
48% |
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Decliners |
2,208 |
52% |
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Russell 2000 |
+1.89 |
2,194.98 |
+0.09% |
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52 Wk Highs |
92 |
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52 Wk Highs |
102 |
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S&P 600 |
-1.26 |
1,392.05 |
-0.09% |
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52 Wk Lows |
28 |
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52 Wk Lows |
133 |
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Indices Rose With Higher Volume Totals but Less Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Russell 2000 gained 0.1%, the Dow Jones Industrial Average closed 0.3% higher, the S&P 500 climbed 1.0%, and the Nasdaq Composite settled 1.5% higher. The volume reported was higher than the prior session totals on the NYSE and on the Nasdaq exchange, action indicative of institutional accumulation. Breadth was mixed as advancers led decliners by a narrow margin on the NYSE but decliners led advancers by a narrow margin on the Nasdaq exchange. There were 44 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 62 on the prior session. New 52-week highs totals contracted yet still outnumbered new 52-week lows on the NYSE, however new lows outnumbered new highs 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 Dow Jones Industrial Average is consolidating well above its 50-day moving average (DMA) line and near its all-time high.
WTI crude oil futures fell -4.5% to $73.70/bbl. The S&P 500 energy sector was the worst performer, dropping -2.6%. The only other sector to close lower was materials (-0.4%). NVIDIA (NVDA +4.1%) was a top performer based on high demand for artificial intelligence products. The information technology sector rose +2.1%, the communication services sector logged a +1.1% gain, and the consumer discretionary sector settled +1.0% higher.
The 10-yr yield settled one basis higher at 4.03% and the 2-yr yield settled two basis points lower at 3.98%. A fresh $58 billion 3-yr note sale met weak demand. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy Linked Groups Led Decliners as Retail and Tech Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.16%) posted a solid gain while the Broker/Dealer Index ($XBD +0.78%) followed, meanwhile the Bank Index ($BKX +0.04%) finished flat. The Semiconductor Index ($SOX +1.33%) and the Networking Index ($NWX +1.54%) both notched solid gains but the Biotech Index ($BTK +0.06%) ended unchanged. Commodity-linked groups had a negative bias as the Gold & Silver Index ($XAU -0.71%) edged lower while the Oil Services Index ($OSX -2.80%) and the Integrated Oil Index ($XOI -3.47%) both posted larger losses.
PICTURED: The Retail Index ($RLX +1.16%) is consolidating above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
79.46 |
-2.29 |
-2.80% |
-5.27% |
| Integrated Oil |
$XOI |
1,950.81 |
-70.10 |
-3.47% |
+4.74% |
| Semiconductor |
$SOX |
5,266.10 |
+69.30 |
+1.33% |
+26.12% |
| Networking |
$NWX |
1,140.04 |
+17.30 |
+1.54% |
+36.89% |
| Broker/Dealer |
$XBD |
710.49 |
+5.49 |
+0.78% |
+27.49% |
| Retail |
$RLX |
4,621.19 |
+53.19 |
+1.16% |
+18.83% |
| Gold & Silver |
$XAU |
154.81 |
-1.10 |
-0.71% |
+23.17% |
| Bank |
$BKX |
114.52 |
+0.04 |
+0.04% |
+19.27% |
| Biotech |
$BTK |
5,829.05 |
+3.66 |
+0.06% |
+7.57% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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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 |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$95.97
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+1.83
1.94% |
$96.55
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43,628
68.17% of 50 DAV
50 DAV is 64,000
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$97.88
-1.95%
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9/17/2024
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$71.26
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PP = $87.23
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MB = $91.59
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Most Recent Note - 10/7/2024 6:18:34 PM
G - Hovering near its all-time high. Prior high in the $87 area defines initial support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Hovering Above Prior Highs Near All-Time High - 10/7/2024 |
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
|
$79.95
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-0.87
-1.08% |
$81.40
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309,505
54.97% of 50 DAV
50 DAV is 563,000
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$81.74
-2.19%
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6/11/2024
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$59.76
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PP = $64.33
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MB = $67.55
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Most Recent Note - 10/7/2024 6:20:28 PM
G - There was a "negative reversal" today after touching a new all-time high. Its 50 DMA line ($73.81) and prior low in the $70 area define important near-term support levels to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High - 10/1/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
TXRH
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NASDAQ
Texas Roadhouse
Retail-Restaurants
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$176.86
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+1.33
0.76% |
$179.65
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505,397
74.43% of 50 DAV
50 DAV is 679,000
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$180.69
-2.12%
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7/26/2024
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$173.08
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PP = $175.82
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MB = $184.61
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Most Recent Note - 10/8/2024 5:23:59 PM
Y - Posted a small gain today backed by lighter volume. Recently noted rebound above the 50 DMA line ($169) helped its outlook to improve. Faces no resistance due to overhead supply.
>>> FEATURED STOCK ARTICLE : Wedging to New Highs With Quiet Volume Behind Gains - 9/26/2024 |
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
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$102.99
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+0.16
0.16% |
$104.24
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1,465,471
56.80% of 50 DAV
50 DAV is 2,580,000
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$103.38
-0.38%
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7/30/2024
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$93.95
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PP = $85.52
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MB = $89.80
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Most Recent Note - 10/7/2024 6:21:32 PM
G - Volume was light again today as it posted a small gain for a new all-time high. Its 50 DMA ($95.42) line defines important near-term support above the recent low ($90.72).
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best-Ever Close - 9/30/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
MELI
-
NASDAQ
MercadoLibre
Retail-Internet
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$2,014.23
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+51.00
2.60% |
$2,018.51
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260,286
79.60% of 50 DAV
50 DAV is 327,000
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$2,161.73
-6.82%
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8/5/2024
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$1,793.73
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PP = $1,792.15
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MB = $1,881.76
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Most Recent Note - 10/8/2024 5:25:46 PM
G - Posted a 4th consecutive small gain today with below-average volume, finding support near its 50 DMA line ($1,981). More damaging losses would raise concerns and trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line - 10/3/2024 |
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 |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$26.25
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+0.70
2.74% |
$26.33
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69,523
73.96% of 50 DAV
50 DAV is 94,000
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$30.32
-13.42%
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9/5/2024
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$27.91
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PP = $27.60
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MB = $28.98
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Most Recent Note - 10/8/2024 5:27:40 PM
G - Posted a gain today with below-average volume rebounding to its 50 DMA line ($26.25) which may act as resistance after damaging volume-driven losses. Only solid rebound above the 50 DMA line would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Near 50-Day Moving Average After Volume-Driven Losses - 10/4/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
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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.
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