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AFTER MARKET UPDATE - WEDNESDAY, OCTOBER 19TH, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
+40.68 |
18,202.62 |
+0.22% |
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Volume |
778,224,660 |
+8% |
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Volume |
1,411,104,620 |
+6% |
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NASDAQ |
+2.57 |
5,246.41 |
+0.05% |
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Advancers |
2,092 |
71% |
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Advancers |
1,667 |
60% |
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S&P 500 |
+4.69 |
2,144.29 |
+0.22% |
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Decliners |
867 |
29% |
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Decliners |
1,095 |
40% |
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Russell 2000 |
+5.34 |
1,222.64 |
+0.44% |
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52 Wk Highs |
84 |
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52 Wk Highs |
69 |
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S&P 600 |
+2.89 |
740.32 |
+0.39% |
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52 Wk Lows |
10 |
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52 Wk Lows |
56 |
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Major Indices Posted Small Gains With Slightly Higher Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished higher on Wednesday. The Dow was up 40 points to 18202. The S&P 500 added 4 points to 2144 and the Nasdaq Composite gained 2 points to 5246. The reported volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange, hinting at an increase in institutional buying demand. Advancers led decliners by more than 2-1 on the NYSE and 4-3 on the Nasdaq exchange. There were 14 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 17 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. PICTURED: The S&P 500 Index met resistance when trying to rebound above its 50-day moving average (DMA) line, then slumped near prior lows.
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 advanced as investors digested updates on the economy and corporate earnings reports. The Fed’s Beige Book release showed that U.S. economic growth accelerated slightly in late-August and September, but with little indication that inflation would pick up soon. In a separate release, housing starts unexpectedly declined in September to the lowest level since March 2015. Finally, building permits rose 6.3% versus projections of a 1.1% increase.
Eight of 11 sectors in the S&P 500 finished in positive territory. Energy shares paced the gains with Halliburton (HAL +4.25%) rose as North American sales grew for the first time since 2014. Shares of Yahoo (YHOO +2.52%) rose after the company bested profit projections in the third-quarter. Financials outperformed with Morgan Stanley (MS +1.89%) gaining as the investment bank’s quarterly profit rose 57% on strong fixed-income trading revenue. In Tech, Intel (INTC -5.93%) fell as the chipmaker posted disappointing data center business growth rates. Shares of Reynolds American (RAI -2.07%) fell after the tobacco manufacturer lowered its forward revenue guidance.
Treasuries finished lower with the benchmark 10-year note down 1/32 to yield 1.74%. In commodities, NYMEX WTI crude gained 2.1% to $51.34/barrel. COMEX gold added 0.6% to $1267.90/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups and Financial Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.95%) and Bank Index ($BKX +1.67%) both outpaced the Retail Index ($RLX +0.27%) on Wednesday. The Gold & Silver Index ($XAU +2.64%) and the Oil Services Index ($OSX +2.58%) were standout gainers while the Integrated Oil Index ($XOI +1.01%) and ended higher. The Biotechnology Index ($BTK -1.13%) fell and the Semiconductor Index ($SOX -0.47%) edged lower, meanwhile the Networking Index ($NWX +1.26%) finished higher. Charts courtesy www.stockcharts.com
 PICTURED: The Bank Index ($BKX +1.67%) found support at its 50-day moving average (DMA) line and rallied near prior highs.
| Oil Services |
$OSX |
168.84 |
+4.24 |
+2.58% |
+7.04% |
| Integrated Oil |
$XOI |
1,162.64 |
+11.67 |
+1.01% |
+8.38% |
| Semiconductor |
$SOX |
810.93 |
-3.81 |
-0.47% |
+22.22% |
| Networking |
$NWX |
395.46 |
+4.94 |
+1.26% |
+5.20% |
| Broker/Dealer |
$XBD |
174.88 |
+1.64 |
+0.95% |
-1.80% |
| Retail |
$RLX |
1,348.27 |
+3.67 |
+0.27% |
+5.05% |
| Gold & Silver |
$XAU |
87.59 |
+2.25 |
+2.64% |
+93.36% |
| Bank |
$BKX |
73.03 |
+1.20 |
+1.67% |
-0.07% |
| Biotech |
$BTK |
3,029.32 |
-34.60 |
-1.13% |
-20.57% |
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Rebound Above 50-Day Moving Average Line Needed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Transdigm Group Inc's (TDG -$0.42 or -0.15% to $281.66) is still sputtering below its 50-day moving average (DMA) line ($284.84). A rebound above that important short-term average is needed for its outlook improve. TDG was last shown in this FSU section on 9/07/16 with an annotated graph under the headline, "Light Volume Behind Gains Wedging for New Highs".
It reported earnings +37% on +15% sales for the Jun '16 quarter, marking its 4th consecutive quarterly comparison with earnings above the +25% minimum earning guideline (C criteria). Annual earnings (A criteria) history has remained strong. The number of top-rated funds owning its share rose from 764 in Jun '15 to 1,073 in Sep '16, a reassuring trend concerning the I criteria. Its small supply of 47.9 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling.
The high-ranked Aerospace/Defense firm was highlighted in yellow with pivot point based on its 8/18/15 high plus 10 cents in the 5/11/16 mid-day report (read here). It had gapped up on the prior session and hit a new high (N criteria) with a considerable volume-driven gain triggering a technical buy signal. |
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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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$281.66
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-0.42
-0.15% |
$282.96
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439,776
131.28% of 50 DAV
50 DAV is 335,000
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$294.38
-4.32%
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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 - 10/19/2016 5:17:53 PM
G - Still sputtering below its 50 DMA line ($284.84). A rebound above that important short-term average is needed for its outlook improve. See the latest FSU analysis for additional details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Line Needed - 10/19/2016 |
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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$18.68
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+0.42
2.30% |
$18.74
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306,954
189.48% of 50 DAV
50 DAV is 162,000
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$18.40
1.52%
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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 - 10/19/2016 5:23:31 PM
Y - Hit a new 52-week high with today's gain above its pivot point backed by +91% above average volume triggering a technical buy signal under the fact-based investment system's guidelines. Damaging losses below its 50 DMA line would trigger a technical sell 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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$16.10
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+0.20
1.26% |
$16.40
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48,210
61.81% of 50 DAV
50 DAV is 78,000
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$18.16
-11.34%
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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 - 10/18/2016 3:33:58 PM
G - Found support at prior low ($15.00 on 9/14/16). More damaging losses would raise serious concerns. Only a prompt rebound above the 50 DMA line ($16.12) 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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$263.89
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-1.68
-0.63% |
$268.69
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619,577
50.74% of 50 DAV
50 DAV is 1,221,000
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$272.58
-3.19%
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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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$44.78
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-0.36
-0.80% |
$45.42
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112,655
59.29% of 50 DAV
50 DAV is 190,000
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$47.72
-6.16%
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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 |
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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
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$62.20
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-0.25
-0.40% |
$62.90
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60,125
29.33% of 50 DAV
50 DAV is 205,000
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$69.53
-10.54%
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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 |
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C
A
S
I |
PAYC
-
NYSE
Paycom Software Inc
COMPUTER SOFTWARE and SERVICES - Application Software
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$49.14
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-0.87
-1.74% |
$50.46
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568,623
106.09% of 50 DAV
50 DAV is 536,000
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$52.93
-7.16%
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10/18/2016
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$50.25
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PP = $53.03
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MB = $55.68
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Most Recent Note - 10/18/2016 5:10:47 PM
Y - Churned +85% above average volume but made little progress today after highlighted in yellow with new pivot point cited based on its 9/06/16 high plus 10 cents. Subsequent volume-driven gains above its pivot point are needed to trigger a technical buy signal. Consolidating near its 50 DMA line after finding support near prior highs in the $46 area. Reported earnings +110% on +61% sales revenues for the Jun '16 quarter, and prior quarterly earnings were above the +25% minimum guideline (C criteria). Completed yet another Secondary Offering on 11/13/15. Since its $15 IPO on 4/15/14 it completed Secondary Offerings on 9/16/15, 5/15/15 and 1/14/15. See the latest FSU analysis for additional details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Technical Breakout Needed to Trigger a Proper Buy Signal - 10/18/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
SFBS
-
NASDAQ
"ServisFirst Bancshares, Inc"
BANKING - Regional - Southeast Banks
|
$53.24
|
+1.70
3.30% |
$53.32
|
120,475
218.25% of 50 DAV
50 DAV is 55,200
|
$53.58
-0.63%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
|
Most Recent Note - 10/19/2016 5:21:48 PM
Y - Color code is changed to yellow after today's gain backed by +127% above average volume challenged its 52-week high and helped clinch a technical buy signal. Found support after undercutting its 50 DMA line ($51.81) More damaging losses would raise concerns.
>>> FEATURED STOCK ARTICLE : Relative Strength Rating is Under Guidelines While Perched Near Highs - 9/22/2016 |
View all notes |
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Company Profile |
SEC
News |
Chart |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$57.46
|
-0.31
-0.54% |
$58.05
|
104,778
61.63% of 50 DAV
50 DAV is 170,000
|
$61.87
-7.13%
|
8/5/2016
|
$51.72
|
PP = $56.08
|
|
MB = $58.88
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Most Recent Note - 10/18/2016 3:35:33 PM
G - Found support on the prior session near its Sep '15 high in the $56 area. Only a prompt rebound above the 50 DMA line ($58.56) would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Stubbornly Holding Ground Near All-Time High - 9/12/2016 |
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News |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$27.55
|
+0.38
1.40% |
$27.57
|
493,426
45.27% of 50 DAV
50 DAV is 1,090,000
|
$28.72
-4.07%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
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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 |
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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 |
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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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