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AFTER MARKET UPDATE - WEDNESDAY, OCTOBER 9TH, 2024
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DOW |
+431.63 |
42,512.00 |
+1.03% |
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Volume |
829,555,918 |
-0% |
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Volume |
5,324,981,800 |
-6% |
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NASDAQ |
+108.70 |
18,291.62 |
+0.60% |
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Advancers |
1,548 |
57% |
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Advancers |
2,134 |
51% |
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S&P 500 |
+40.91 |
5,792.04 |
+0.71% |
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Decliners |
1,163 |
43% |
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Decliners |
2,047 |
49% |
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Russell 2000 |
+5.60 |
2,200.59 |
+0.26% |
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52 Wk Highs |
155 |
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52 Wk Highs |
176 |
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S&P 600 |
+4.43 |
1,396.48 |
+0.32% |
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52 Wk Lows |
28 |
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52 Wk Lows |
142 |
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Dow and S&P 500 Index Rally to New Record Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 (+0.7%) and Dow Jones Industrial Average (+1.0%) rallied to new record highs. The volume reported was lighter than the prior session totals on the NYSE and on the Nasdaq exchange, action indicative of less institutional accumulation. Breadth was slightly positive as advancers led decliners by a 5-4 margin on the NYSE but by a narrower margin on the Nasdaq exchange. There were 80 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 expanded and outnumbered new 52-week lows on the NYSE and 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.
There were gains for 28 of the 30 Dow components. Nine of the 11 S&P 500 sectors closed higher. Alphabet (GOOG -1.59%) sputtered following news that the Department of Justice is considering a breakup of Google.
The health care (+1.0%) and information technology (+1.0%) sectors were the best gainers. Meanwhile, the rate-sensitive real estate sector (-0.9%) suffered the largest decline as yields rose.
The 10-yr yield settled three basis points higher at 4.06% and the 2-yr yield settled three basis points higher at 4.01%
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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, Financial, Networking, and Semiconductor Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.04%) and the Bank Index ($BKX +1.25%) both posted solid gains while the Broker/Dealer Index ($XBD +0.57%) followed with a smaller gain. The Networking Index ($NWX +2.08%) outpaced the Semiconductor Index ($SOX +1.06%) while the Biotech Index ($BTK -0.14%) ended slightly lower. Commodity-linked groups were indecisive as the Gold & Silver Index ($XAU -0.22%) and the Oil Services Index ($OSX -0.18%) both ended slightly lower while the Integrated Oil Index ($XOI +0.57%) posted a modest gain.
PICTURED: The Gold & Silver Index ($XAU -0.22%) inched lower and closed below its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
79.31 |
-0.14 |
-0.18% |
-5.45% |
| Integrated Oil |
$XOI |
1,961.93 |
+11.12 |
+0.57% |
+5.34% |
| Semiconductor |
$SOX |
5,321.90 |
+55.80 |
+1.06% |
+27.46% |
| Networking |
$NWX |
1,163.79 |
+23.74 |
+2.08% |
+39.74% |
| Broker/Dealer |
$XBD |
714.55 |
+4.06 |
+0.57% |
+28.22% |
| Retail |
$RLX |
4,669.45 |
+48.26 |
+1.04% |
+20.08% |
| Gold & Silver |
$XAU |
154.47 |
-0.34 |
-0.22% |
+22.90% |
| Bank |
$BKX |
115.96 |
+1.43 |
+1.25% |
+20.76% |
| Biotech |
$BTK |
5,820.98 |
-8.07 |
-0.14% |
+7.42% |
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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 |
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Max Buy |
USLM
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NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$97.69
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+1.72
1.79% |
$98.61
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45,982
71.85% of 50 DAV
50 DAV is 64,000
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$97.88
-0.19%
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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 - 10/9/2024 5:57:06 PM
G - Hit a new all-time high with today's 4th consecutive gain backed by light volume. Prior high in the $87 area defines initial support to watch on pullbacks.
>>> 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
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NYSE
Granite Construction
Bldg-Heavy Construction
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$81.82
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+1.87
2.34% |
$82.45
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596,057
107.20% of 50 DAV
50 DAV is 556,000
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$81.74
0.10%
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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 - 10/9/2024 5:55:56 PM
G - Posted a gain today for a new all-time high. Its 50 DMA line ($74.33) defines initial support above the prior low in the $70 area.
>>> 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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$175.98
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-0.88
-0.50% |
$177.26
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486,172
72.13% of 50 DAV
50 DAV is 674,000
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$180.69
-2.61%
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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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$103.70
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+0.71
0.69% |
$104.10
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1,497,642
59.13% of 50 DAV
50 DAV is 2,533,000
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$104.24
-0.52%
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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
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NASDAQ
MercadoLibre
Retail-Internet
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$2,047.99
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+33.76
1.68% |
$2,052.50
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274,700
83.75% of 50 DAV
50 DAV is 328,000
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$2,161.73
-5.26%
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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
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NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$26.43
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+0.18
0.69% |
$26.67
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59,218
63.00% of 50 DAV
50 DAV is 94,000
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$30.32
-12.83%
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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.
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only to active Paid Premium Members.
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