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AFTER MARKET UPDATE - FRIDAY, OCTOBER 11TH, 2024
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DOW |
+409.74 |
42,863.86 |
+0.97% |
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Volume |
799,044,139 |
+0% |
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Volume |
5,180,249,500 |
-13% |
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NASDAQ |
+60.89 |
18,342.94 |
+0.33% |
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Advancers |
2,185 |
80% |
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Advancers |
3,079 |
73% |
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S&P 500 |
+34.98 |
5,815.03 |
+0.61% |
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Decliners |
557 |
20% |
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Decliners |
1,159 |
27% |
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Russell 2000 |
+45.99 |
2,234.41 |
+2.10% |
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52 Wk Highs |
200 |
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52 Wk Highs |
269 |
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S&P 600 |
+24.72 |
1,412.05 |
+1.78% |
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52 Wk Lows |
13 |
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52 Wk Lows |
93 |
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Major Indices Rallied With Greater Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Gains on Friday helped the Dow Jones Industrial Average (+1.0%) and S&P 500 (+0.6%) close at all-time highs. The Nasdaq Composite logged a +0.3% gain, meanwhile the Russell 2000 outperformed its peers, rising +2.1%.The volume reported was mixed, higher than the prior session total on the NYSE and lighter on the Nasdaq exchange. Breadth was clearly positive as advancers led decliners by about a 4-1 margin on the NYSE and by nearly 3-1 on the Nasdaq exchange. There were 37 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 37 on the prior session. New 52-week highs totals outnumbered new 52-week lows on the NYSE but 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 Nasdaq Composite Index is perched within striking distance of its all-time high, consolidating above its 50-day moving average (DMA) line.
The latest economic data including the September Producer Price Index and preliminary consumer sentiment data from October led the market to believe that the Fed won't stop cutting rates. The Treasury market saw the 10-yr yield settle two basis points lower at 4.07%. The 2-yr yield settled six basis points lower at 3.94%. The financial sector finished +2.0% higher. The consumer discretionary sector showed a -0.4% loss.
Tesla (TSLA -8.78%) fell following a disappointing reveal of its robotaxi, meanwhile there was a solid gain for Uber Technologies (UBER +10.81%). There were gains following the latest earnings results from JPMorgan Chase (JPM +4.44%), Wells Fargo (WFC +5.61%), and BlackRock (BLK +3.63%). Bank of America (BAC +4.98%) also was an influential winner after news that 10% owner Berkshire Hathaway's Warren Buffett sold roughly $382 million worth of its shares.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial, Retail, Tech, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +3.04%) and Broker/Dealer Index ($XBD +1.74%) both ended with solid gains while the Retail Index ($RLX +1.07%) posted a smaller gain. The Networking Index ($NWX +0.70%) and the Semiconductor Index ($SOX +0.79%) both ended modestly higher while the Biotech Index ($BTK +1.59%) posted a larger gain. Commodity-linked groups also had a slightly positive bias as the Gold & Silver Index ($XAU +0.45%) and Oil Services Index ($OSX +0.99%) rose while the Integrated Oil Index ($XOI +0.01%) was unchanged.
PICTURED: The Networking Index ($NWX +0.70%) posted a small gain for a new all-time high.
| Oil Services |
$OSX |
80.84 |
+0.79 |
+0.99% |
-3.63% |
| Integrated Oil |
$XOI |
1,983.72 |
+0.10 |
+0.01% |
+6.51% |
| Semiconductor |
$SOX |
5,335.94 |
+42.00 |
+0.79% |
+27.79% |
| Networking |
$NWX |
1,158.82 |
+8.05 |
+0.70% |
+39.15% |
| Broker/Dealer |
$XBD |
722.96 |
+12.39 |
+1.74% |
+29.73% |
| Retail |
$RLX |
4,721.22 |
+49.78 |
+1.07% |
+21.41% |
| Gold & Silver |
$XAU |
159.49 |
+0.72 |
+0.45% |
+26.89% |
| Bank |
$BKX |
119.21 |
+3.52 |
+3.04% |
+24.15% |
| Biotech |
$BTK |
5,928.35 |
+92.62 |
+1.59% |
+9.40% |
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Celistica Hits New All-Time High With 8th Straight Gain
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Celestica (CLS +$1.81 or +2.96% to $63.06) was highlighted in yellow in the earlier mid-day report (read here) with new pivot point cited based on its 7/16/24 high plus 10 cents. It touched a new all-time high with its 8th consecutive volume-driven gain. Subsequent gains and a strong close above the pivot point backed by at leats +40% above average volume may trigger a proper new technical buy signal. Fundamentals remain strong.
CLS was last shown in detail in this FSU section on 7/19/24 with an annotated graph under the headline, "Testing 50-Day Moving Average Line After Wedging to New High".It found prompt support near its 200-day moving average (DMA) line during its consolidation, then rebounded since dropped from the Featured Stocks list on 7/29/24.
CLS hails from the high ranked Elec-Contract Mfg group which is now ranked 35th on the 197 Industry Groups List (L criteria). CLS recently reported earnings +65% on +23% sales revenues for the Jun '24 quarter versus the year ago period, and 8 of the last 9 quarterly comparisons were at or above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history has been strong since bottoming in FY '19. It has a highest possible 99 Earnings Per Share Rating.
There are only 121.5 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 322 in Jun '23 to 652 in Sep '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.6 is an unbiased indication its shares have been under accumulation over the past 50 days.
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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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$101.81
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+4.21
4.31% |
$101.84
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86,678
137.58% of 50 DAV
50 DAV is 63,000
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$99.44
2.38%
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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 - 10/11/2024 5:15:03 PM
G - Hit another new all-time high with today's solid gain backed by +38% above-average 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 |
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News |
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C
A
S
I |
GVA
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NYSE
Granite Construction
Bldg-Heavy Construction
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$81.78
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+1.22
1.51% |
$82.01
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425,411
76.51% of 50 DAV
50 DAV is 556,000
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$82.45
-0.81%
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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 |
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C
A
S
I |
TXRH
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NASDAQ
Texas Roadhouse
Retail-Restaurants
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$175.70
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+1.66
0.95% |
$177.55
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557,295
84.06% of 50 DAV
50 DAV is 663,000
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$180.69
-2.76%
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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 - 10/11/2024 5:19:33 PM
Y - Posted another small gain today backed by below-average 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 |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$103.82
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+1.72
1.68% |
$104.42
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1,623,690
68.95% of 50 DAV
50 DAV is 2,355,000
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$104.24
-0.40%
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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 - 10/10/2024 12:49:37 PM
G - Pulling back today after 4 consecutive gains with light volume as it wedged to new all-time highs. Prior highs in the $98 area and its 50 DMA ($96.14) line define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best-Ever Close - 9/30/2024 |
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Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
MELI
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NASDAQ
MercadoLibre
Retail-Internet
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$2,091.16
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+50.66
2.48% |
$2,107.10
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301,825
93.44% of 50 DAV
50 DAV is 323,000
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$2,161.73
-3.26%
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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 - 10/11/2024 5:17:01 PM
G - Posted a solid gain today with average volume, making steady progress after finding prompt support near its 50 DMA line ($2,006). Little near-term resistance remains due to overhead supply up to the $2,161 level.
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line - 10/3/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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 |
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Max Buy |
NGVC
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NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$26.67
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+0.72
2.77% |
$26.68
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46,183
50.20% of 50 DAV
50 DAV is 92,000
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$30.32
-12.04%
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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 - 10/11/2024 5:18:50 PM
G - Posted a gain today with below-average volume rebounding to close above its 50 DMA line ($26.24) which recently acted as resistance after damaging volume-driven losses. The rebound helped its outlook improve, however, it remains below the previously cited pivot point.
>>> 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 |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$63.06
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+1.81
2.96% |
$63.85
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3,877,534
198.54% of 50 DAV
50 DAV is 1,953,000
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$63.85
-1.24%
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10/11/2024
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$57.62
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PP = $63.59
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MB = $66.77
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Most Recent Note - 10/11/2024 5:14:08 PM
Y - Color code was changed to yellow with a new pivot point cited based on its 7/16/24 high plus 10 cents. Touched a new all-time high with today's 8th consecutive volume-driven gain. Subsequent gains and strong close above the pivot point backed by at least +40% above average volume may trigger a proper new technical buy signal. Fundamentals remain strong. Found prompt support near its 200 DMA line during its consolidation and rebounded since dropped from the Featured Stocks list on 7/29/24. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line After Wedging to New High - 7/19/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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
at any time. Questions or comments may be submitted
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
or 954-785-1121.
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