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AFTER MARKET UPDATE - MONDAY, OCTOBER 10TH, 2016
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DOW |
+88.55 |
18,329.04 |
+0.49% |
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Volume |
666,407,960 |
-28% |
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Volume |
1,252,742,220 |
-17% |
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NASDAQ |
+36.27 |
5,328.67 |
+0.69% |
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Advancers |
2,104 |
72% |
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Advancers |
1,987 |
70% |
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S&P 500 |
+9.92 |
2,163.66 |
+0.46% |
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Decliners |
823 |
28% |
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Decliners |
838 |
30% |
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Russell 2000 |
+14.21 |
1,250.76 |
+1.15% |
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52 Wk Highs |
144 |
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52 Wk Highs |
66 |
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S&P 600 |
+7.74 |
756.80 |
+1.03% |
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52 Wk Lows |
22 |
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52 Wk Lows |
46 |
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Breadth Positive and Leadership Expanded But Volume Was Lower
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks advanced on Monday. The Dow rose 89 points to 15329. The S&P 500 gained 10 points to 2163. The Nasdaq Composite increased 36 points to 5328. The S&P 500 Index and the Dow Jones Industrial Average rebounded near their respective 50 DMA lines, but failed to close above them. The volume totals were lighter than the prior session on the NYSE and on the Nasdaq exchange, revealing a lack of serious institutional buying demand. Advancers led decliners by more than 5-2 on the NYSE and nearly 5-2 on the Nasdaq exchange. There were 60 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 22 on the prior session. New 52-week highs totals outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange. PICTURED: The Nasdaq Composite Index challenged its record high after consolidating above its 50-day moving average (DMA) line.
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 Featured Stocks Page lists noteworthy high-ranked leaders.
The major averages finished in positive territory as the price of oil climbed. With no scheduled economic releases, attention was on the presidential election following last night’s debate between Hillary Clinton and Donald Trump. Corporate profits were in focus with Alcoa’s quarterly results tomorrow morning unofficially kicking off third-quarter reporting season. S&P 500 earnings are forecasted to decline 1.6% year-over-year, according to Bloomberg.
Energy was the top performing sector on the session. The group rallied in sympathy with oil after President Vladimir Putin said Russia would reduce output if OPEC reaches a formal agreement to cut production. Exxon (XOM +1.96%) and Chevron (CVX +1.67%) rose. In Health Care, Mylan (MYL +8.15%) rose after reaching a settlement with the U.S. government over EpiPen pricing. Shares of Bristol-Meyers (BMY -10.14%) fell as results of a trial for its lung cancer drug fell short of expectations. Over in Tech, Apple (AAPL +1.74%) rose. Twitter (TWTR -11.54%) tumbled again on reports possible bidders have lost interest in acquiring the social media company.
In commodities, NYMEX crude gained 2.8% to $51.19/barrel. COMEX gold was up 0.7% to $1257.50/ounce. The U.S. Treasury market was closed in observance of Columbus Day. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy-Linked Groups Outpaced Financial and Tech Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.20%) and the Bank Index ($BKX +0.47%) both rose on Monday while the Retail Index ($RLX -0.02%) finished flat. The Oil Services Index ($OSX +1.75%) and the Integrated Oil Index ($XOI +1.60%) both had a solidly positive bias. The Semiconductor Index ($SOX -0.49%) fell while the Networking Index ($NWX +0.24%) and the Biotechnology Index ($BTK +0.72%) ended slightly higher. The Gold & Silver Index ($XAU +0.76%) posted a gain, halting its slide at its 200-day moving average (DMA) line. Charts courtesy www.stockcharts.com
 PICTURED: The Biotechnology Index ($BTK +0.72%) recently slumped below its 50-day moving average (DMA) line toward prior lows.
| Oil Services |
$OSX |
169.15 |
+2.92 |
+1.76% |
+7.24% |
| Integrated Oil |
$XOI |
1,181.67 |
+18.66 |
+1.60% |
+10.16% |
| Semiconductor |
$SOX |
832.91 |
-4.11 |
-0.49% |
+25.54% |
| Networking |
$NWX |
408.25 |
+0.97 |
+0.24% |
+8.60% |
| Broker/Dealer |
$XBD |
176.93 |
+0.35 |
+0.20% |
-0.65% |
| Retail |
$RLX |
1,360.99 |
-0.24 |
-0.02% |
+6.04% |
| Gold & Silver |
$XAU |
81.93 |
+0.61 |
+0.75% |
+80.86% |
| Bank |
$BKX |
73.20 |
+0.34 |
+0.47% |
+0.16% |
| Biotech |
$BTK |
3,298.14 |
+23.63 |
+0.72% |
-13.52% |
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Challenged 52-Week High With Another Volume-Driven Gain
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Centerstate Banks Inc (CSFL +$0.21 or +1.16% to $18.26) was highlighted in yellow with new pivot point cited based on its 9/08/16 high plus 10 cents in the earlier mid-day report. Disciplined investors will note that subsequent volume-driven gains for new highs (N criteria) are needed to trigger a proper technical buy signal before action may be justified under the fact-based investment system.
The Jun '16 quarter marked its 7th consecutive earnings increase above the +25% minimum guideline (C criteria), and its annual earnings (A criteria) history has been good. Its small supply of only 46 millions shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling.
CSFL was last shown in this FSU section on 5/27/16 with an annotated graph under the headline, "Forming Ideal Base and Fundamentals Are Favorable". It found support near its 200-day moving average (DMA) line then rebounded and rallied for new highs after dropped from the Featured Stocks list on 6/17/16.
The number of top-rated funds owning its shares rose from 180 in Jun '15 to 247 in Jun '16, a reassuring sign. Its current Up/Down Volume ratio of 1.1 is an unbiased indication its shares have been under only slight accumulation over the past 50 days (I criteria). |
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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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$283.26
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+2.36
0.84% |
$284.44
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428,262
124.49% of 50 DAV
50 DAV is 344,000
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$294.38
-3.78%
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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 - 10/7/2016 12:32:36 PM
G - Damaging losses today are further undercutting the 50 DMA line ($284) after a noted "negative reversal" on 10/04/16 erased gains challenging its prior high. A violation of the recent low ($278.52 on 9/20/16) would raise greater concerns and trigger a worrisome technical sell signal.
>>> FEATURED STOCK ARTICLE : Light Volume Behind Gains Wedging for New Highs - 9/7/2016 |
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News |
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C
A
S
I |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$18.26
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+0.21
1.16% |
$18.28
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243,851
154.34% of 50 DAV
50 DAV is 158,000
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$18.27
-0.05%
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10/10/2016
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$18.20
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PP = $18.37
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MB = $19.29
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Most Recent Note - 10/10/2016 5:49:52 PM
Y - Finished near the session high with today's volume-driven gain leading to a new high close for the year. Highlighted in yellow with new pivot point cited based on its 9/08/16 high plus 10 cents in the earlier mid-day report. A convincing volume-driven gain above its pivot point may trigger a new technical buy signal. Found support near its 200 DMA line then rebounded and rallied for new highs after dropped from the Featured Stocks list on 6/17/16. Fundamentals remain strong (C and A criteria). See the latest FSU analysis for additional details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Challenged 52-Week High With Another Volume-Driven Gain - 10/10/2016 |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$16.86
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+0.11
0.66% |
$16.94
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45,797
55.85% of 50 DAV
50 DAV is 82,000
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$18.16
-7.16%
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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 - 10/10/2016 5:46:20 PM
G - Quietly consolidating near its "max buy" level, perched within striking distance of its 52-week high. Recently found support at its 50 DMA line ($15.92).
>>> FEATURED STOCK ARTICLE : Wedging Higher With Recent Gains Lacking Great Volume - 9/27/2016 |
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News |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$261.34
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+8.39
3.32% |
$262.72
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866,767
75.77% of 50 DAV
50 DAV is 1,144,000
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$257.56
1.47%
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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 - 10/10/2016 5:52:53 PM
G - Hit another new all-time high and ended near the session high with today's gain on lighter than average volume. Very extended from any sound base. Its 50 DMA line ($224) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After +37% Rally Since Featured 6/29/16 - 9/21/2016 |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$46.37
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+0.04
0.09% |
$47.00
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92,184
47.27% of 50 DAV
50 DAV is 195,000
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$47.72
-2.83%
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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 - 10/10/2016 5:44:17 PM
Y - Still quietly and stubbornly holding its ground near its all-time high. 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 |
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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 |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$64.84
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+2.47
3.96% |
$64.85
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96,971
44.89% of 50 DAV
50 DAV is 216,000
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$69.53
-6.75%
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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 - 10/10/2016 5:51:14 PM
Y - Posted a quiet gain above its 50 DMA line and finished near the session high today. 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.
>>> FEATURED STOCK ARTICLE : Found Support While Building on a New "Double Bottom" Base Pattern - 9/28/2016 |
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C
A
S
I |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$52.87
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+0.18
0.34% |
$53.21
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49,707
99.41% of 50 DAV
50 DAV is 50,000
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$53.58
-1.33%
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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 - 10/5/2016 5:29:27 PM
G - Posted a small gain with higher volume today and it remains above its 50 DMA line. Subsequent volume-driven gains for new highs would be a very reassuring sign of institutional buying demand. Relative Strength Rating is currently 77, below the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Relative Strength Rating is Under Guidelines While Perched Near Highs - 9/22/2016 |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$60.99
|
+0.17
0.28% |
$61.86
|
162,977
90.54% of 50 DAV
50 DAV is 180,000
|
$61.87
-1.42%
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8/5/2016
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$51.72
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PP = $56.08
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MB = $58.88
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Most Recent Note - 10/5/2016 5:31:45 PM
G - Perched near its all-time high, stubbornly holding its ground, extended from any sound base. Its 50 DMA line ($57.58) defines important near-term support above its Sep '15 highs.
>>> FEATURED STOCK ARTICLE : Stubbornly Holding Ground Near All-Time High - 9/12/2016 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$27.21
|
+0.01
0.04% |
$27.35
|
780,181
70.22% of 50 DAV
50 DAV is 1,111,000
|
$28.72
-5.26%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
|
MB = $30.14
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Most Recent Note - 10/6/2016 4:54:59 PM
Y - Pulled back with above average volume for 2 consecutive sessions since highlighted in yellow with new pivot point cited based on its 9/01/16 high plus 10 cents. Gapped up and was featured in the 10/04/16 mid-day report rebounding well above its 50 DMA line with a considerable volume-driven gain. 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 an annotated graph.
>>> FEATURED STOCK ARTICLE : Gapped Up on News Being Added to S&P 600 Small Cap Index - 10/4/2016 |
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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
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