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AFTER MARKET UPDATE - THURSDAY, OCTOBER 13TH, 2016
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DOW |
-45.26 |
18,098.94 |
-0.25% |
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Volume |
854,157,970 |
+26% |
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Volume |
1,586,536,960 |
+10% |
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NASDAQ |
-25.69 |
5,213.33 |
-0.49% |
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Advancers |
985 |
33% |
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Advancers |
811 |
27% |
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S&P 500 |
-6.63 |
2,132.55 |
-0.31% |
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Decliners |
1,996 |
67% |
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Decliners |
2,160 |
73% |
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Russell 2000 |
-11.48 |
1,215.75 |
-0.94% |
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52 Wk Highs |
33 |
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52 Wk Highs |
39 |
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S&P 600 |
-7.85 |
737.65 |
-1.05% |
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52 Wk Lows |
40 |
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52 Wk Lows |
66 |
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Leadership Evaporates as Major Averages Fall With Higher Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Thursday. The Dow was down 45 points to 18098. The S&P 500 lost 6 points to 2132 and the Nasdaq Composite fell 25 points to 5213. Behind the losses the reported volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange, a sign of increasing institutional selling pressure. Decliners led advancers 2-1 on the NYSE and 11-4 on the Nasdaq exchange. There were 4 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 15 on the prior session. New 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. PICTURED: The Dow Jones Industrial Average ended near the session high after undercutting the recent low intra-day.
Recent deterioration in the charts of the major averages (M criteria) and evaporating leadership (fewer stocks hitting new highs) are signs that the uptrend is under pressure. The S&P 500 Index and the Dow Jones Industrial Average met resistance near their respective 50 DMA lines and abruptly retreated near prior lows. The Featured Stocks Page lists noteworthy high-ranked leaders.
The major averages declined on the session as Financials slid and investors digested weaker-than-expected economic releases. On the domestic front, import prices ticked up 0.1% in September, slightly below analyst expectations. In a separate release, initial jobless claims came in at 246,000, below the projected 253,000. Overseas, a report showed that China’s September exports were down 10% from a year earlier, as global demand for goods remained sluggish.
Six of 11 sectors in the S&P 500 finished in positive territory. In the consumer space, ULTA Salon (ULTA +11.37%) rallied after the cosmetics retailer raised its forward EPS guidance. MecradoLibre (MELI -8.05%) fell with news EBay (EBAY +0.03%) will sell 5.5 million shares of its stake in the company. In Tech, shares declined with GoPro (GPRO -3.22%) fell amid reports the company is currently not shipping products to Amazon.com (AMZN -0.58%). On the earnings front, Delta Air Lines (DAL +1.88%) rose as the airline’s quarterly profit was slightly ahead of forecasts. Shares of Progressive (PGR +2.56%) rose after the company’s revenue topped Wall Street estimates.
Treasuries advanced with the benchmark 10-year note up 7/32 to yield 1.74%. In commodities, NYMEX WTI crude added 0.5% to $50.43/barrel. In FOREX, the Dollar Index fell 0.4%. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial and Technology Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -1.33%) and the Bank Index ($BKX -1.90%) both weighed on the major averages on Thursday. The Retail Index ($RLX -0.27%) posted a smaller loss. The Gold & Silver Index ($XAU +0.80%) rose and the Oil Services Index ($OSX +0.03%) finished flat while the Integrated Oil Index ($XOI -0.63%) had a slightly negative bias. The Semiconductor Index ($SOX -1.18%) and Networking Index ($NWX -1.46%) fell and the Biotechnology Index ($BTK -0.06%) finished flat. Charts courtesy www.stockcharts.com
 PICTURED: The Retail Index ($RLX -0.27%) is sputtering near its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
165.84 |
+0.04 |
+0.02% |
+5.14% |
| Integrated Oil |
$XOI |
1,152.40 |
-7.35 |
-0.63% |
+7.43% |
| Semiconductor |
$SOX |
803.05 |
-9.57 |
-1.18% |
+21.04% |
| Networking |
$NWX |
388.44 |
-5.74 |
-1.46% |
+3.33% |
| Broker/Dealer |
$XBD |
172.14 |
-2.32 |
-1.33% |
-3.34% |
| Retail |
$RLX |
1,348.57 |
-3.66 |
-0.27% |
+5.07% |
| Gold & Silver |
$XAU |
82.59 |
+0.66 |
+0.81% |
+82.32% |
| Bank |
$BKX |
70.90 |
-1.37 |
-1.90% |
-2.98% |
| Biotech |
$BTK |
3,083.37 |
-1.88 |
-0.06% |
-19.16% |
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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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$278.67
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+1.24
0.45% |
$279.48
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453,692
133.05% of 50 DAV
50 DAV is 341,000
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$294.38
-5.34%
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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 - 10/12/2016 5:07:57 PM
G - Halted its slide with a small gain today. Violations of its 50 DMA line and prior low ($278.52 on 9/20/16) raised concerns and triggered worrisome technical sell signals. Only a prompt rebound would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Light Volume Behind Gains Wedging for New Highs - 9/7/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$17.93
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-0.19
-1.05% |
$18.04
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323,385
214.16% of 50 DAV
50 DAV is 151,000
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$18.40
-2.55%
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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 - 10/13/2016 5:33:55 PM
Y - Pulled back near its 50 DMA line with a loss on twice average volume. More damaging losses would trigger a technical sell signal. A convincing volume-driven gain above its pivot point may trigger a new technical buy signal.
>>> FEATURED STOCK ARTICLE : Challenged 52-Week High With Another Volume-Driven Gain - 10/10/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$15.60
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-0.58
-3.58% |
$16.47
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73,890
93.53% of 50 DAV
50 DAV is 79,000
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$18.16
-14.10%
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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 - 10/13/2016 5:27:01 PM
G - Violated its 50 DMA line today raising concerns and triggering a technical sell signal. Its color code is changed to green. Only a prompt rebound above the 50 DMA line would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Wedging Higher With Recent Gains Lacking Great Volume - 9/27/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$261.98
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+0.56
0.21% |
$263.50
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1,358,569
115.23% of 50 DAV
50 DAV is 1,179,000
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$270.93
-3.30%
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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 - 10/12/2016 12:24:11 PM
G - Hitting yet another new all-time high with today's gain on above average volume. Very extended from any sound base. Its 50 DMA line ($226) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After +37% Rally Since Featured 6/29/16 - 9/21/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$44.68
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-0.45
-1.00% |
$45.12
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112,974
58.84% of 50 DAV
50 DAV is 192,000
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$47.72
-6.37%
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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 |
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 |
PATK
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NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$62.56
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-1.10
-1.73% |
$63.35
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111,669
53.43% of 50 DAV
50 DAV is 209,000
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$69.53
-10.02%
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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 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
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$52.25
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-0.29
-0.55% |
$52.54
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91,187
178.80% of 50 DAV
50 DAV is 51,000
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$53.58
-2.48%
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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 - 10/13/2016 5:36:26 PM
G - Encountering distributional pressure with 3 consecutive losses on above average volume 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.
>>> FEATURED STOCK ARTICLE : Relative Strength Rating is Under Guidelines While Perched Near Highs - 9/22/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$57.34
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-1.71
-2.90% |
$59.01
|
179,334
101.32% of 50 DAV
50 DAV is 177,000
|
$61.87
-7.32%
|
8/5/2016
|
$51.72
|
PP = $56.08
|
|
MB = $58.88
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Most Recent Note - 10/13/2016 5:30:24 PM
G - Violated its 50 DMA line ($58.40) today triggering a technical sell signal. Only a prompt rebound above the 50 DMA line would help its outlook improve. The next important support is its Sep '15 high in the $56 area.
>>> FEATURED STOCK ARTICLE : Stubbornly Holding Ground Near All-Time High - 9/12/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$26.44
|
-0.51
-1.89% |
$26.71
|
479,726
44.42% of 50 DAV
50 DAV is 1,080,000
|
$28.72
-7.94%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
|
MB = $30.14
|
Most Recent Note - 10/12/2016 5:04:48 PM
Y - Quietly consolidating above its 50 DMA line ($26.54) since highlighted in yellow with new pivot point cited based on its 9/01/16 high plus 10 cents. Members were repeatedly reminded in prior notes - "Volume-driven gains above the pivot point are still needed to trigger a convincing technical buy signal."
>>> FEATURED STOCK ARTICLE : Gapped Up on News Being Added to S&P 600 Small Cap Index - 10/4/2016 |
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.
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