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AFTER MARKET UPDATE - THURSDAY, OCTOBER 20TH, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
-40.27 |
18,162.35 |
-0.22% |
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Volume |
773,094,850 |
-1% |
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Volume |
1,593,543,260 |
+13% |
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NASDAQ |
-4.58 |
5,241.83 |
-0.09% |
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Advancers |
1,224 |
42% |
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Advancers |
1,289 |
46% |
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S&P 500 |
-2.95 |
2,141.34 |
-0.14% |
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Decliners |
1,671 |
58% |
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Decliners |
1,501 |
54% |
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Russell 2000 |
-2.85 |
1,219.79 |
-0.23% |
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52 Wk Highs |
73 |
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52 Wk Highs |
62 |
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S&P 600 |
-4.62 |
735.70 |
-0.62% |
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52 Wk Lows |
20 |
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52 Wk Lows |
51 |
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Major Averages Keep Sputtering While Leadership Remains Thin
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Thursday. The Dow was down 40 points to 18162. The S&P 500 lost 2 points to 2141 and the Nasdaq Composite fell 4 points to 5241. The reported volume totals were near the prior session total on the NYSE and higher on the Nasdaq exchange. Decliners led advancers by 4-3 on the NYSE and 7-6 on the Nasdaq exchange. There were 12 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 14 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 600 Small Cap Index again has slumped below its 50-day moving average (DMA) line and below its 2015 high.
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 quarterly earnings and the European Central Bank’s decision to leave interest rates unchanged. In prepared remarks, President Draghi stated the central bank will preserve a very substantial amount of monetary policy support as risks remain to the downside. On the domestic front, existing home sales rose 3.2% in September, above analyst projections. In a separate release, initial jobless claims came in at 260,000, above the reported 247,000 in the previous week.
Ten of 11 sectors in the S&P 500 finished in negative territory. In earnings, EBay Inc (EBAY -10.76%) fell as the online retailer provided a disappointing current-quarter forecast. Shares of Verizon Communications (VZ -2.46%) were down after fewer-than-expected wireless subscribers were added in the quarter. Over in Financials, Travelers Companies (TRV -5.77) tumbled as the property-casualty insurer’s profit fell 23% in fourth-straight quarterly drop. American Express Co (AXP +9%) rallied after the company raised its yearly outlook on better credit quality. Walgreens Boots Alliance Inc (WBA +4.98%) as comparable-store sales rose 3.2% year-over-year.
Treasuries finished mostly lower with the benchmark 10-year note down 1/32 to yield 1.74%. In commodities, NYMEX WTI crude lost 2.3% to $50.43/barrel. COMEX gold was off 0.2% to $1265.60/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial, Tech Groups Mixed; Oil Services Index Led Decliners
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Financial shares were mixed on Thursday as the Broker/Dealer Index ($XBD -1.10%) fell and the Bank Index ($BKX +0.99%) rose. The Oil Services Index ($OSX -2.31%) was a standout decliner while the Integrated Oil Index ($XOI +0.10%) and the Gold & Silver Index ($XAU -0.14%) finished little changed and the Retail Index ($RLX -0.38%) edged lower. The Biotechnology Index ($BTK +0.99%) and the Semiconductor Index ($SOX +0.71%) both posted modest gains, meanwhile the Networking Index ($NWX -0.63%) finished lower. Charts courtesy www.stockcharts.com
 PICTURED: The Integrated Oil Index ($XOI +0.10%) found support above its 50-day moving average (DMA) line while recently consolidating.
| Oil Services |
$OSX |
164.95 |
-3.89 |
-2.30% |
+4.58% |
| Integrated Oil |
$XOI |
1,163.83 |
+1.19 |
+0.10% |
+8.49% |
| Semiconductor |
$SOX |
816.72 |
+5.79 |
+0.71% |
+23.10% |
| Networking |
$NWX |
392.98 |
-2.48 |
-0.63% |
+4.54% |
| Broker/Dealer |
$XBD |
172.97 |
-1.92 |
-1.10% |
-2.88% |
| Retail |
$RLX |
1,343.15 |
-5.12 |
-0.38% |
+4.65% |
| Gold & Silver |
$XAU |
87.47 |
-0.12 |
-0.14% |
+93.09% |
| Bank |
$BKX |
73.49 |
+0.46 |
+0.63% |
+0.56% |
| Biotech |
$BTK |
3,059.30 |
+29.98 |
+0.99% |
-19.79% |
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Rebound Above 50-Day Moving Average Line Helped Outlook
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Inogen Inc (INGN +$1.30 or +2.26% to $58.76) rebounded above its 50-day moving average (DMA) line with today's big gain on average volume and strong finish near the session high helping its outlook improve. It has not formed a sound base yet found support recently near Sep '15 highs in the $56 area. More damaging losses would raise concerns and trigger a worrisome technical sell signal. It was last shown in this FSU section on 9/12/16 with an annotated graph under the headline, "Stubbornly Holding Ground Near All-Time High".
INGN was highlighted in yellow with new pivot point cited based on its 9/14/15 high plus 10 cents in 8/05/16 mid-day report (read here). It has made limited progress since its 8/09/16 volume-driven gain triggered a technical buy signal.
The Dec '15, Mar and Jun '16 quarters showed earnings increases above the +25% minimum guideline (C criteria). Sales revenues growth has been in the +24-39% range, a reassuring sign of increasing demand for its new products and services (N criteria). Annual earnings (A criteria) growth has been strong.
The number of top-rated funds owning its shares rose from 114 in Sep '14 to 319 in Sep '16, a reassuring sign concerning the I criteria. Its small supply of only 15.3 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling. it is up considerably from its $16 IPO on 2/14/14 followed by a Secondary Offering on 10/30/14.
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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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$260.19
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+2.53
0.98% |
$260.31
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666,691
200.81% of 50 DAV
50 DAV is 332,000
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$294.38
-11.61%
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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 - 10/20/2016 5:36:53 PM
G - Rebounded near its 50 DMA line with today's volume-driven gain while issuing a Special Dividend. See the latest FSU analysis for additional details and an 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 |
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C
A
S
I |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$18.79
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+0.11
0.59% |
$19.08
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158,238
94.75% of 50 DAV
50 DAV is 167,000
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$18.74
0.27%
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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 |
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News |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$15.85
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-0.25
-1.55% |
$16.15
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26,773
34.77% of 50 DAV
50 DAV is 77,000
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$18.16
-12.72%
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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 |
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Company Profile |
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News |
Chart |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$264.50
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+0.61
0.23% |
$265.55
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840,601
68.90% of 50 DAV
50 DAV is 1,220,000
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$272.58
-2.96%
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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 - 10/20/2016 5:34:09 PM
G - Holding its ground stubbornly near its all-time high with recent volume totals cooling. 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 |
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News |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$45.23
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+0.45
1.00% |
$46.00
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147,765
77.77% of 50 DAV
50 DAV is 190,000
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$47.72
-5.22%
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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 |
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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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$61.25
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-0.95
-1.53% |
$62.28
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80,665
39.54% of 50 DAV
50 DAV is 204,000
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$69.53
-11.91%
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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 - 10/20/2016 5:32:54 PM
G - Color code is changed to green while quietly slumping below its 50 DMA line ($62.88) with recent losses on light volume. A new pivot point was cited based on its 9/06/16 high, however a rebound above the 50 DMA line and volume-driven gains above the pivot point 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
|
$48.75
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-0.39
-0.79% |
$49.12
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492,433
92.74% of 50 DAV
50 DAV is 531,000
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$52.93
-7.90%
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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 |
Chart |
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C
A
S
I |
SFBS
-
NASDAQ
"ServisFirst Bancshares, Inc"
BANKING - Regional - Southeast Banks
|
$53.23
|
-0.01
-0.02% |
$53.50
|
86,579
151.63% of 50 DAV
50 DAV is 57,100
|
$53.58
-0.65%
|
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 |
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News |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$58.76
|
+1.30
2.26% |
$58.90
|
167,078
102.50% of 50 DAV
50 DAV is 163,000
|
$61.87
-5.03%
|
8/5/2016
|
$51.72
|
PP = $56.08
|
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MB = $58.88
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Most Recent Note - 10/20/2016 5:30:30 PM
G - Found support near its Sep '15 high in the $56 area and today's rebound above the 50 DMA line helped its outlook improve. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Line Helped Outlook - 10/20/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$27.42
|
-0.13
-0.47% |
$27.66
|
282,949
25.93% of 50 DAV
50 DAV is 1,091,000
|
$28.72
-4.53%
|
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 |
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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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