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AFTER MARKET UPDATE - MONDAY, OCTOBER 17TH, 2016
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DOW |
-51.98 |
18,086.40 |
-0.29% |
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Volume |
688,915,320 |
-12% |
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Volume |
1,297,476,590 |
-11% |
|
NASDAQ |
-14.34 |
5,199.82 |
-0.28% |
|
Advancers |
1,188 |
40% |
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Advancers |
1,137 |
40% |
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S&P 500 |
-6.48 |
2,126.50 |
-0.30% |
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Decliners |
1,772 |
60% |
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Decliners |
1,687 |
60% |
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Russell 2000 |
-2.27 |
1,210.14 |
-0.19% |
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52 Wk Highs |
48 |
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52 Wk Highs |
30 |
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S&P 600 |
-1.69 |
734.99 |
-0.23% |
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52 Wk Lows |
35 |
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52 Wk Lows |
114 |
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Leadership Remained Thin as Major Averages Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Monday. The Dow was down 52 points to 18085. The S&P 500 lost 6 points to 2126 and the Nasdaq Composite fell 14 points to 5199. The reported volume totals were lighter than the prior session on the NYSE and on the Nasdaq exchange. Decliners led advancers by 3-2 on the NYSE and on the Nasdaq exchange. There were 7 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 11 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, but new 52-week lows outnumbered new 52-week highs on the Nasdaq exchange. PICTURED: The Nasdaq Composite Index recently slumped below its 50-day moving average (DMA) line.
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 investors digested corporate earnings releases and commentary from Fed Vice-Chair Stanley Fischer. In prepared remarks, Fischer warned of the dangers of low interest rates, suggesting they could lead to longer recessions, making the economy more vulnerable. On the data front, a report showed manufacturing activity in the New York Fed region contracted for the third straight month in October. A separate release revealed U.S. industrial production ticked up 0.1% last month.
Seven of 11 sectors in the S&P 500 finished in negative territory. Pearson PLC (PSO -8.22%) fell with news underlying sales are down 7%. Shares of Pandora (P -3.51%) slid after being the subject of negative analyst commentary. In earnings, Bank of America (BAC +0.31%) inched higher as quarterly profit rose 7.3% on strong trading results. Hasbro (HAS +7.43%) rose after the toymaker’s revenue topped analyst forecasts. In M&A news, Supervalu (SVU +5.79%) rose as the company announced the selling of its Save-A-Lot business to Onex Corporation (ONEXF +0.05%) for $1.37 billion.
Treasuries advanced with the benchmark 10-year note up 9/32 to yield 1.76%. In commodities, NYMEX WTI crude lost 1% to $49.86/barrel. In FOREX, the Dollar Index fell 0.2%. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Financial, Tech, and Energy Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -1.18%), Bank Index ($BKX -0.42%), and the Retail Index ($RLX -1.06%) fell on Monday. The Gold & Silver Index ($XAU +1.49%) rose while the Oil Services Index ($OSX -0.96%) and the Integrated Oil Index ($XOI -0.52%) ended lower. The Semiconductor Index ($SOX -0.54%) and Networking Index ($NWX -0.27%) edged lower and the Biotechnology Index ($BTK -0.05%) finished flat. Charts courtesy www.stockcharts.com
 PICTURED: The Oil Services Index ($OSX -0.96%) is consolidating above its 50-day and 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
163.23 |
-1.59 |
-0.96% |
+3.49% |
| Integrated Oil |
$XOI |
1,144.37 |
-6.01 |
-0.52% |
+6.68% |
| Semiconductor |
$SOX |
805.00 |
-4.39 |
-0.54% |
+21.33% |
| Networking |
$NWX |
387.00 |
-1.05 |
-0.27% |
+2.94% |
| Broker/Dealer |
$XBD |
171.32 |
-2.04 |
-1.18% |
-3.80% |
| Retail |
$RLX |
1,330.30 |
-14.23 |
-1.06% |
+3.65% |
| Gold & Silver |
$XAU |
82.23 |
+1.20 |
+1.48% |
+81.52% |
| Bank |
$BKX |
70.93 |
-0.30 |
-0.42% |
-2.94% |
| Biotech |
$BTK |
3,031.40 |
-1.39 |
-0.05% |
-20.52% |
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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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$280.03
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+2.51
0.90% |
$280.50
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383,412
112.44% of 50 DAV
50 DAV is 341,000
|
$294.38
-4.87%
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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 - 10/17/2016 4:59:03 PM
G - Still sputtering below its 50 DMA line ($284.88). A rebound above that important short-term average is needed for 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 |
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C
A
S
I |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$17.77
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-0.23
-1.28% |
$18.08
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80,139
50.40% of 50 DAV
50 DAV is 159,000
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$18.40
-3.42%
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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 - 10/17/2016 5:00:38 PM
Y - Pulled back near its 50 DMA line ($17.71) today with a loss on light 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 |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$15.45
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+0.21
1.38% |
$15.70
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53,070
66.34% of 50 DAV
50 DAV is 80,000
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$18.16
-14.92%
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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 - 10/14/2016 5:14:00 PM
G - Violated its 50 DMA line on the prior session and fell further today raising concerns and triggering a technical sell signal. Prior low ($15.00 on 9/14/16) defines the next important near-term support level. 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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$261.10
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-0.27
-0.10% |
$263.87
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829,134
68.47% of 50 DAV
50 DAV is 1,211,000
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$272.58
-4.21%
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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 - 10/14/2016 12:26:48 PM
G - Touched yet another new all-time high today but erased its early gain. Repeatedly noted - "Very extended from any sound base. Its 50 DMA line 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 |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$44.53
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-0.05
-0.11% |
$45.06
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83,267
43.82% of 50 DAV
50 DAV is 190,000
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$47.72
-6.68%
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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 - 10/17/2016 4:55:22 PM
Y - Quietly consolidating near its 50 DMA line ($44.37) and prior low ($43.50 on 9/12/16) which define near term support where violations would raise concerns and trigger technical sell signals. 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
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$62.70
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+0.57
0.92% |
$63.65
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47,167
22.79% of 50 DAV
50 DAV is 207,000
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$69.53
-9.82%
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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 - 10/14/2016 5:11:59 PM
Y - Volume totals have been cooling while consolidating near 50 DMA line. 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
|
$51.80
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-1.16
-2.19% |
$53.12
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52,660
99.36% of 50 DAV
50 DAV is 53,000
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$53.58
-3.32%
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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 - 10/17/2016 4:57:10 PM
G -Consolidating near its 50 DMA line ($51.76) and yet still perched within close striking distance of its 52-week high. More damaging losses would raise concerns. 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
|
$56.37
|
+0.19
0.34% |
$56.73
|
207,423
119.21% of 50 DAV
50 DAV is 174,000
|
$61.87
-8.89%
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8/5/2016
|
$51.72
|
PP = $56.08
|
|
MB = $58.88
|
Most Recent Note - 10/14/2016 5:16:06 PM
G - Violated its 50 DMA line on the prior session triggering a technical sell signal and slumped further today testing important support at its Sep '15 high in the $56 area.Only a prompt rebound above the 50 DMA line ($58.45) would help its outlook improve.
>>> 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 |
Request a new note
C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$26.88
|
+0.09
0.34% |
$26.89
|
489,633
45.25% of 50 DAV
50 DAV is 1,082,000
|
$28.72
-6.41%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
|
MB = $30.14
|
Most Recent Note - 10/17/2016 4:59:47 PM
Y - Still quietly consolidating above its 50 DMA line ($26.55) 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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