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AFTER MARKET UPDATE - TUESDAY, OCTOBER 11TH, 2016
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DOW |
-200.38 |
18,128.66 |
-1.09% |
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Volume |
810,629,970 |
+22% |
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Volume |
1,662,894,320 |
+33% |
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NASDAQ |
-81.88 |
5,246.79 |
-1.54% |
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Advancers |
381 |
13% |
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Advancers |
468 |
16% |
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S&P 500 |
-26.93 |
2,136.73 |
-1.24% |
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Decliners |
2,606 |
87% |
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Decliners |
2,423 |
84% |
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Russell 2000 |
-23.14 |
1,227.62 |
-1.85% |
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52 Wk Highs |
67 |
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52 Wk Highs |
47 |
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S&P 600 |
-12.43 |
744.37 |
-1.64% |
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52 Wk Lows |
36 |
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52 Wk Lows |
60 |
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Leadership Waned and Major Averages Fell With Higher Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks retreated on Tuesday. The Dow was down 200 points to 18128. The S&P 500 lost 26 points to 2136 and the Nasdaq Composite fell 81 points to 5246. The S&P 500 Index and the Dow Jones Industrial Average met resistance near their respective 50 DMA lines and then abruptly retreated. The volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange, revealing an increase in institutional selling pressure. Decliners led advancers by nearly 7-1 on the NYSE and 5-1 on the Nasdaq exchange. There were only 13 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 60 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs on the Nasdaq exchange. PICTURED: The S&P 500 Index met resistance at its 50-day moving average (DMA) line and slumped with losses on higher volume.
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 firmly lower on the session as Health Care shares sold-off and investors digested the beginning of third-quarter earnings season. According to Bloomberg data, consensus estimates are for a 1.6% year-over-year decline in S&P 500 profits this quarter. Shares of Alcoa (AA -11.42%) dove as the aluminum producer missed Wall Street profit and revenue forecasts.
All 11 sectors in the S&P 500 ended in negative territory with Health Care shares retreating 2.5% lower. Illumina (ILMN -24.81%) sank as the science equipment manufacturer cut its revenue guidance. Shares of St. Jude Medical (STJ -3.53%) fell after premature battery depletion in devices led to possible deaths. Horizon Pharma (HZNP -6.51%) after being the subject of negative analyst commentary. Over in Tech, Apple (AAPL +0.22%) inched higher with news rival Samsung has permanently ended production and sales of its Galaxy Note 7 smartphone. Shares of Twitter (TWTR +2.51%) rose amid reports the social media giant remains in deal talks with Salesforce.com (CRM -3.57%).
Treasuries declined with the benchmark 10-year note down 13/32 to yield 1.76%. In commodities, NYMEX WTI crude lost 1.1% to $50.79/barrel. COMEX gold was off 0.4% to $1253.00/ounce. In FOREX, the Dollar Index climbed 0.7%. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups, Tech, Retail, and Financial Indexes Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -0.90%) and the Bank Index ($BKX -1.19%) both fell on Tuesday. The Retail Index ($RLX -1.20%) also lost ground. Commodity-linked groups sank as the Gold & Silver Index ($XAU -2.15%), Oil Services Index ($OSX -0.89%), and the Integrated Oil Index ($XOI -1.48%) each had a negative bias. The Semiconductor Index ($SOX -2.11%), Networking Index ($NWX -1.93%), and the Biotechnology Index ($BTK -3.69%) each ended solidly lower. Charts courtesy www.stockcharts.com
 PICTURED: The Networking Index ($NWX -1.93%) retreated from record highs toward its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
167.64 |
-1.51 |
-0.89% |
+6.28% |
| Integrated Oil |
$XOI |
1,164.12 |
-17.54 |
-1.48% |
+8.52% |
| Semiconductor |
$SOX |
815.31 |
-17.60 |
-2.11% |
+22.88% |
| Networking |
$NWX |
400.38 |
-7.87 |
-1.93% |
+6.50% |
| Broker/Dealer |
$XBD |
175.34 |
-1.59 |
-0.90% |
-1.55% |
| Retail |
$RLX |
1,344.62 |
-16.37 |
-1.20% |
+4.76% |
| Gold & Silver |
$XAU |
80.17 |
-1.76 |
-2.15% |
+76.98% |
| Bank |
$BKX |
72.33 |
-0.87 |
-1.19% |
-1.03% |
| Biotech |
$BTK |
3,176.29 |
-121.84 |
-3.69% |
-16.72% |
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Seriously Applying the Fact-Based System Now
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Asset Management Services Using the Fact-Based Investment System You can have professional help in limiting your losses and maximizing your gains in all market environments. For help with how your portfolio is managed click here and indicate "Find a Broker". Account minimum $250,000. |
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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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$276.70
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-6.56
-2.32% |
$282.79
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355,002
103.80% of 50 DAV
50 DAV is 342,000
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$294.38
-6.01%
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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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Company Profile |
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News |
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C
A
S
I |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$18.06
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-0.20
-1.10% |
$18.40
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77,590
49.74% of 50 DAV
50 DAV is 156,000
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$18.28
-1.20%
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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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News |
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C
A
S
I |
IESC
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NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$16.27
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-0.59
-3.50% |
$16.89
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39,525
48.80% of 50 DAV
50 DAV is 81,000
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$18.16
-10.41%
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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 - 10/11/2016 4:49:17 PM
Y - Quietly consolidating above its 50 DMA line ($15.96). Edged below its "max buy" level, and its color code is changed to yellow. Damaging losses violating the 50 DMA line would raise concerns and trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Wedging Higher With Recent Gains Lacking Great Volume - 9/27/2016 |
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Company Profile |
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News |
Chart |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$254.20
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-7.14
-2.73% |
$261.34
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1,144,872
99.47% of 50 DAV
50 DAV is 1,151,000
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$262.72
-3.24%
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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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Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$44.83
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-1.54
-3.32% |
$46.70
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100,710
51.91% of 50 DAV
50 DAV is 194,000
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$47.72
-6.06%
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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 - 10/11/2016 4:51:51 PM
Y - Recent lows and its 50 DMA line ($43.82) define near term support to watch where violations would raise concerns. Subsequent volume-driven gains for new highs may trigger a new (or add-on) technical buy signal.
>>> 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
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NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$62.99
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-1.85
-2.85% |
$64.95
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68,844
32.17% of 50 DAV
50 DAV is 214,000
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$69.53
-9.41%
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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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News |
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C
A
S
I |
SFBS
-
NASDAQ
"ServisFirst Bancshares, Inc"
BANKING - Regional - Southeast Banks
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$52.56
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-0.31
-0.59% |
$53.27
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112,505
223.22% of 50 DAV
50 DAV is 50,400
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$53.58
-1.90%
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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 - 10/11/2016 12:30:51 PM
G - Encountering mild distributional pressure yet it remains above its 50 DMA line and perched within close striking distance of its 52-week high. Subsequent volume-driven gains for new highs would be a very reassuring sign of institutional buying demand. Relative Strength Rating is currently 78, 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
|
$59.63
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-1.36
-2.23% |
$60.83
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188,680
105.41% of 50 DAV
50 DAV is 179,000
|
$61.87
-3.62%
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8/5/2016
|
$51.72
|
PP = $56.08
|
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MB = $58.88
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Most Recent Note - 10/11/2016 5:11:26 PM
G - Pulled back from all-time highs with near average volume today. Extended from any sound base. Its 50 DMA line ($58.20) defines important near-term support above its Sep '15 highs.
>>> FEATURED STOCK ARTICLE : Stubbornly Holding Ground Near All-Time High - 9/12/2016 |
View all notes |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$26.65
|
-0.56
-2.06% |
$27.05
|
738,035
65.95% of 50 DAV
50 DAV is 1,119,000
|
$28.72
-7.21%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
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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.
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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
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