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AFTER MARKET UPDATE - TUESDAY, OCTOBER 10TH, 2023
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DOW |
+134.65 |
33,739.30 |
+0.40% |
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Volume |
845,050,669 |
+13% |
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Volume |
4,340,870,700 |
+12% |
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NASDAQ |
+78.60 |
13,562.84 |
+0.58% |
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Advancers |
2,032 |
73% |
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Advancers |
2,840 |
66% |
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S&P 500 |
+22.58 |
4,358.24 |
+0.52% |
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Decliners |
767 |
27% |
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Decliners |
1,435 |
34% |
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Russell 2000 |
+19.95 |
1,775.95 |
+1.14% |
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52 Wk Highs |
42 |
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52 Wk Highs |
59 |
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S&P 600 |
+12.43 |
1,145.92 |
+1.10% |
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52 Wk Lows |
26 |
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52 Wk Lows |
183 |
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The Nasdaq Composite Index's solid gain on Friday with higher volume and with an expansion in new highs signaled a new market uptrend (M criteria) confirmed by a follow-through day. New buying efforts should be made only in stocks meeting all key criteria of the fact-based investment system.
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Major Averages Rise With Greater Volume and More Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major indices posted gains in the +0.40% to +0.60% range. The volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange, revealing an increase in buying demand from the institutional crowd. Advancers led decliners by a 5-2 margin on the NYSE and by a 2-1 margin on the Nasdaq exchange. There were 34 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, versus the total of 22 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows totals still solidly outnumbered new 52-week highs on the Nasdaq exchange. The Nasdaq Composite Index's solid gain on Friday with higher volume and with an expansion in new highs signaled a new market uptrend (M criteria) confirmed by a follow-through day. New buying efforts should be made only in stocks meeting all key criteria of the fact-based investment system.
PICTURED: The S&P 500 Index posted a 3rd consecutive gain off of the recent low. It is rebounding after finding supoort above its 200-day moving average (DMA) line but remains below its 50 DMA line.
The stock market closed with gains, bolstered by lower market rates, lower oil prices, and a weaker dollar. The U.S. Dollar Index fell 0.3% to 105.76 and WTI crude oil futures fell 0.6% to $85.89/bbl. Mega-caps Apple (AAPL -0.34%) and Microsoft (MSFT -0.43%) edged lower.
Ten of the 11 S&P 500 sectors closed with a gain while the energy sector (flat) closed just below the unchanged mark. The utilities (+1.4%), consumer discretionary (+1.1%), materials (+1.1%), and consumer staples (+1.1%) sectors were leading gainers.
A $46 billion 3-yr note auction that was met with some relatively soft demand. The 2-yr note yield settled seven basis points lower at 4.99% and the 10-yr note yield fell 12 basis points to 4.66%.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Financial, Tech, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.92%) rose along with gains for the Bank Index ($BKX +1.57%) and Broker/Dealer Index ($XBD +0.57%). The tech sector was led by the Semiconductor Index ($SOX +1.29%) while the Biotech Index ($BTK +1.07%) and the Networking Index ($NWX +0.67%) also rose. Commodity-linked groups also were gainers as the Oil Services Index ($OSX +0.31%), Integrated Oil Index ($XOI +0.42%), and the Gold & Silver Index ($XAU +0.84%) each rose.
PICTURED: The Bank Index ($BKX +1.57%) posted a 5th consecutive gain.
| Oil Services |
$OSX |
93.30 |
+0.28 |
+0.31% |
+11.26% |
| Integrated Oil |
$XOI |
1,904.59 |
+7.92 |
+0.42% |
+6.57% |
| Semiconductor |
$SOX |
3,512.07 |
+44.72 |
+1.29% |
+38.70% |
| Networking |
$NWX |
729.06 |
+4.88 |
+0.67% |
-6.93% |
| Broker/Dealer |
$XBD |
487.23 |
+2.78 |
+0.57% |
+8.48% |
| Retail |
$RLX |
3,390.02 |
+31.02 |
+0.92% |
+23.09% |
| Gold & Silver |
$XAU |
109.85 |
+0.91 |
+0.84% |
-9.11% |
| Bank |
$BKX |
77.35 |
+1.20 |
+1.57% |
-23.30% |
| Biotech |
$BTK |
5,058.25 |
+53.62 |
+1.07% |
-4.22% |
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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***
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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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