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AFTER MARKET UPDATE - TUESDAY, OCTOBER 15TH, 2024
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DOW |
-324.80 |
42,740.42 |
-0.75% |
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Volume |
935,608,095 |
+29% |
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Volume |
6,552,536,200 |
+33% |
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NASDAQ |
-187.10 |
18,315.59 |
-1.01% |
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Advancers |
1,354 |
50% |
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Advancers |
2,082 |
49% |
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S&P 500 |
-44.59 |
5,815.26 |
-0.76% |
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Decliners |
1,350 |
50% |
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Decliners |
2,145 |
51% |
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Russell 2000 |
+1.18 |
2,249.82 |
+0.05% |
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52 Wk Highs |
288 |
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52 Wk Highs |
289 |
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S&P 600 |
+1.61 |
1,422.54 |
+0.11% |
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52 Wk Lows |
18 |
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52 Wk Lows |
95 |
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Major Indices Pulled Back from Record Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 Index (-0.8%), Nasdaq Composite Index (-1.0%), and Dow Jones Industrial Average (-0.8%) ended Tuesday's session with solid losses, meanwhile the Russell 2000 Index eked out a +0.1% gain. The volume reported was higher than the prior session totals on the NYSE and on the Nasdaq exchange, actiojnm indicative of distributional pressure.Advancers and decliners were evenly matched on the NYSE and on the Nasdaq exchange. There were 120 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 123 on the prior session. New 52-week highs totals still solidly outnumbered new 52-week lows on the NYSE and 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 Dow Jones Industrial Average reversed into the red on Tuesday after hitting a new all-time high.
Weakness in the semiconductor space followed a Bloomberg report that the Biden administration aims to curb sales of advanced AI chips to certain countries, with a focus on Persian Gulf countries. Selling intensified in response to ASML's (ASML -16.26%) Q3 coming in below-consensus EPS, revenues, and net bookings. The company also issued weaker-than-expected FY25 revenue guidance saying, "While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover." NVIDIA (NVDA -4.69%) also faced pressure.
UnitedHealth (UNH -8.11%) had a negative influence as the largest component in the DJIA. The S&P 500 health care sector declined -1.2%. Citigroup (C -5.11%) was also lower after it reported earnings. The financial sector settled +0.3% higher despite mixed responses to the quarterly results.
The 10-yr yield settled three basis points lower at 4.04% and the 2-yr yield settled one basis point higher at 3.95%.
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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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Semiconductor and Energy-Linked Indexes Led Decliners
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.75%) outpaced the Bank Index ($BKX +0.28%) while the Retail Index ($RLX +0.11%) finished little changed. The Semiconductor Index ($SOX -5.28%) suffered a large loss while the Networking Index ($NWX -0.10%) finished flat and the Biotech Index ($BTK +0.24%) edged higher. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU +0.82%) posted a small gain but the Oil Services Index ($OSX -3.75%) and Integrated Oil Index ($XOI -3.84%) both slumped badly.
PICTURED: The Bank Index ($BKX +0.28%) is perched at a multi-year highs after recently rallying from support at its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
77.15 |
-3.01 |
-3.75% |
-8.02% |
| Integrated Oil |
$XOI |
1,893.61 |
-75.64 |
-3.84% |
+1.67% |
| Semiconductor |
$SOX |
5,145.21 |
-287.00 |
-5.28% |
+23.22% |
| Networking |
$NWX |
1,142.29 |
-1.14 |
-0.10% |
+37.16% |
| Broker/Dealer |
$XBD |
735.02 |
+5.49 |
+0.75% |
+31.89% |
| Retail |
$RLX |
4,723.33 |
+5.33 |
+0.11% |
+21.46% |
| Gold & Silver |
$XAU |
160.63 |
+1.31 |
+0.82% |
+27.80% |
| Bank |
$BKX |
120.71 |
+0.33 |
+0.28% |
+25.71% |
| Biotech |
$BTK |
5,948.91 |
+14.02 |
+0.24% |
+9.78% |
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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***
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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$101.35
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-0.46
-0.45% |
$102.30
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50,453
80.08% of 50 DAV
50 DAV is 63,000
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$101.84
-0.48%
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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 |
SEC
News |
Chart |
Request a new note
C
A
S
I |
GVA
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NYSE
Granite Construction
Bldg-Heavy Construction
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$81.56
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-0.22
-0.27% |
$82.60
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381,475
70.51% of 50 DAV
50 DAV is 541,000
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$82.45
-1.08%
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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 - 10/14/2024 6:03:49 PM
G - Perched at its all-time high after recently wedging higher. Its 50 DMA line ($75) 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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$176.05
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+0.35
0.20% |
$176.50
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465,639
70.55% of 50 DAV
50 DAV is 660,000
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$180.69
-2.57%
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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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$102.65
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-1.17
-1.13% |
$104.01
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2,543,804
109.41% of 50 DAV
50 DAV is 2,325,000
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$104.42
-1.70%
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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 - 10/14/2024 6:04:57 PM
G - Pulled back today with +11% above average volume after it recently wedged to new all-time highs. Prior highs in the $98 area and its 50 DMA ($96.57) line define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best-Ever Close - 9/30/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
MELI
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NASDAQ
MercadoLibre
Retail-Internet
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$2,079.96
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-11.20
-0.54% |
$2,105.04
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200,461
63.04% of 50 DAV
50 DAV is 318,000
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$2,161.73
-3.78%
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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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$26.08
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-0.59
-2.21% |
$26.56
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63,094
70.10% of 50 DAV
50 DAV is 90,000
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$30.32
-13.98%
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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 |
Request a new note
C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$63.16
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+0.10
0.16% |
$64.56
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1,917,457
97.14% of 50 DAV
50 DAV is 1,974,000
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$63.85
-1.08%
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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 : Celistica Hits New All-Time High With 8th Straight Gain - 10/11/2024 |
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
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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
or 954-785-1121.
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