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AFTER MARKET UPDATE - THURSDAY, OCTOBER 27TH, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
-29.65 |
18,169.68 |
-0.16% |
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Volume |
960,583,980 |
+11% |
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Volume |
1,756,295,530 |
+12% |
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NASDAQ |
-34.30 |
5,215.97 |
-0.65% |
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Advancers |
821 |
28% |
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Advancers |
978 |
33% |
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S&P 500 |
-6.39 |
2,133.04 |
-0.30% |
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Decliners |
2,135 |
72% |
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Decliners |
2,027 |
67% |
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Russell 2000 |
-14.80 |
1,189.95 |
-1.23% |
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52 Wk Highs |
68 |
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52 Wk Highs |
67 |
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S&P 600 |
-5.41 |
727.29 |
-0.74% |
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52 Wk Lows |
71 |
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52 Wk Lows |
116 |
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Breadth Negative as Major Indices Fell Again With Higher Volume
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower on Thursday. The Dow was down 29 points to 18169. The S&P 500 lost 6 points to 2133 and the Nasdaq Composite fell 34 points to 5215. The volume totals were reported higher than the prior session totals on the NYSE and on the Nasdaq exchange, indicating more distributional selling pressure from the institutional crowd. Decliners led advancers by more than 2-1 on the NYSE and on the Nasdaq exchange. There were 20 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 lows outnumbered new 52-week highs on the NYSE and Nasdaq exchange. PICTURED: The Dow Jones Industrial Average has met resistance at its 50-day moving average (DMA) line in recent weeks.
Recent deterioration in the charts of the major averages (M criteria) and less 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 amid high trading volume as investors digested mixed corporate earnings and economic releases. On the data front, initial jobless claims came in at 258,000, above the expected 256,000. In separate reports, durable goods orders slipped 0.1% in September while pending home sales rose 1.5% last month. In M&A news, Qualcomm (QCOM -2.8%) after agreeing to acquire NXP Semiconductors (NXPI) for $38 billion.
Eight of 11 sectors in the S&P 500 finished in negative territory. In the consumer space, Groupon (GRPN -22.1%) tumbled after reporting a wider-than-expected quarterly loss. Ford Motors (F -1.2%) was lower as the automaker’s profit fell 56% from a year earlier. In Health Care, Aetna (AET -0.2%) was slightly lower amid profit pressure related to the Affordable Care Act. Celgene (CELG +6.4%) rose on strong sales of its cancer pill Revlimid. Shares of Bristol-Myers Squibb (BMY +5.4%) rose after the drugmaker raised its full-year forecast. In Tech, ServiceNow (NOW +7.7%) rose as billings were up 41% year-over-year.
Treasuries declined with the benchmark 10-year note down 17/32 to yield 1.83%. In commodities, NYMEX WTI crude added 1% to $49.66/barrel. COMEX gold gained 0.3% to $1267.90/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial Groups Rose Amid Widespread Group Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -1.10%) fell while the Broker/Dealer Index ($XBD +0.88%) and the Bank Index ($BKX +0.47%) gained ground on Thursday. The Gold & Silver Index ($XAU -1.37%) and the Oil Services Index ($OSX -1.12%) fell while the Integrated Oil Index ($XOI -0.03%) finished flat. The Networking Index ($NWX -2.63%) led the tech sector lower while the Biotechnology Index ($BTK -0.51%) and the Semiconductor Index ($SOX -0.42%) both suffered smaller losses. Charts courtesy www.stockcharts.com
 PICTURED: The Gold & Silver Index ($XAU -1.37%) is consolidating near its 200-day moving average (DMA) line which recently acted as support.
| Oil Services |
$OSX |
157.25 |
-1.79 |
-1.13% |
-0.30% |
| Integrated Oil |
$XOI |
1,158.45 |
-0.39 |
-0.03% |
+7.99% |
| Semiconductor |
$SOX |
823.74 |
-3.48 |
-0.42% |
+24.15% |
| Networking |
$NWX |
389.73 |
-10.51 |
-2.63% |
+3.67% |
| Broker/Dealer |
$XBD |
172.73 |
+1.50 |
+0.88% |
-3.01% |
| Retail |
$RLX |
1,331.26 |
-14.79 |
-1.10% |
+3.72% |
| Gold & Silver |
$XAU |
84.26 |
-1.17 |
-1.37% |
+86.00% |
| Bank |
$BKX |
75.10 |
+0.35 |
+0.47% |
+2.76% |
| Biotech |
$BTK |
2,983.12 |
-15.24 |
-0.51% |
-21.78% |
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Challenged 52-Week High With Gap Up and Volume-Driven Gain
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Lemaitre Vascular Inc (LMAT +$2.16 or +11.40% to $21.11) was highlighted in yellow with pivot point cited based on its 9/20/16 high plus 10 cents in the earlier mid-day report (read here). It gapped up today, rebounding above its 50-day moving average (DMA) line to challenge its all-time highs. The high-ranked Medical - Products form found support above prior highs in the $18 area during its quiet consolidation and little resistance remains due to overhead supply. Subsequent volume-driven gains for new highs may trigger a technical buy signal following its base-on-base pattern.
Volume and volatility often increase near earnings news. LMAT just reported earnings +55% on +22% sales revenues for the Sep '16 quarter, marking its 3rd consecutive quarter above the +25% minimum earnings guideline (C criteria), helping it better match the fact-based investment system's fundamental guidelines. Earnings rose +18%, +38%, +40% and +55% in the Dec '15, Mar, Jun, and Sep '16 quarters, respectively, demonstrating encouraging sales revenues and earnings acceleration. Sales revenues rose +10%, +7%, +13% and +20% over that same span. Annual earnings (A criteria) history has been steadily improving since a downturn in FY '11.
Its current Up/Down Volume ratio of 1.6 is an unbiased indication that its shares were under accumulation over the past 50 days, a reassuring sign concerning the I criteria. The number of top-rated funds owning its share rose from 184 in Dec '15 to 196 in Sep '16. Its small supply of 13.1 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling. |
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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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$269.62
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-1.46
-0.54% |
$273.04
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439,091
119.32% of 50 DAV
50 DAV is 368,000
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$294.38
-8.41%
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10/25/2016
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$268.12
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PP = $269.41
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MB = $282.88
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Most Recent Note - 10/25/2016 4:53:32 PM
Y - Color code is change to yellow and a new pivot point is cited based on its 9/07/16 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal. Posted a gain on above average volume today for a best-ever close. Rebounded above its 50 DMA line with volume-driven gains after issuing a Special Dividend effective 10/20/16.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Line Needed - 10/19/2016 |
View all notes |
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News |
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C
A
S
I |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$18.54
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+0.01
0.05% |
$18.74
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199,967
123.44% of 50 DAV
50 DAV is 162,000
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$19.08
-2.83%
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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 - 10/24/2016 12:17:18 PM
Y - Holding its ground near its 52-week high and near its "max buy" level after last week's big volume-driven gains above its pivot point triggered a technical buy signal. Prior highs and its 50 DMA line define near-term support in the $18 area where violations would trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Challenged 52-Week High With Another Volume-Driven Gain - 10/10/2016 |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$14.60
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+0.10
0.69% |
$14.85
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41,099
52.02% of 50 DAV
50 DAV is 79,000
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$18.16
-19.60%
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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 - 10/27/2016 5:25:42 PM
Failed to rebound today following 3 consecutive damaging volume-driven losses testing its 200 DMA line ($14.10) which defines a very important support level. It will be dropped from the Featured Stocks list tonight. A rebound above the 50 DMA line ($16.20) is needed for its outlook improve.
>>> FEATURED STOCK ARTICLE : Wedging Higher With Recent Gains Lacking Great Volume - 9/27/2016 |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$267.05
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+1.31
0.49% |
$271.66
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1,029,053
86.55% of 50 DAV
50 DAV is 1,189,000
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$272.58
-2.03%
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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 - 10/25/2016 4:54:50 PM
G - Held its ground stubbornly and posted a gain on light volume for a best-ever close today. Repeatedly noted - "Very extended from any sound base. Its 50 DMA line defines near-term support to watch."
>>> FEATURED STOCK ARTICLE : Very Extended From Base Following Additional Gains - 10/21/2016 |
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C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$43.90
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-1.28
-2.83% |
$45.51
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106,014
62.73% of 50 DAV
50 DAV is 169,000
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$47.72
-8.01%
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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 - 10/27/2016 5:24:15 PM
G - Color code is changed to green after quietly slumping below its 50 DMA line today testing its prior low ($43.50 on 9/12/16) which defines important near term support. More damaging losses would raise greater concerns and trigger a technical sell signal. A rebound above the 50 DMA line is needed for its outlook to improve. Subsequent volume-driven gains for new highs may trigger a new (or add-on) technical buy signal.
>>> FEATURED STOCK ARTICLE : Still Building on New Base Pattern - 10/25/2016 |
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Set NEW NOTE alert |
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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 |
LMAT
-
NASDAQ
Lemaitre Vascular Inc
Medical-Products
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$21.11
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+2.16
11.40% |
$21.77
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411,429
265.44% of 50 DAV
50 DAV is 155,000
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$22.50
-6.18%
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10/27/2016
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$21.03
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PP = $22.60
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MB = $23.73
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Most Recent Note - 10/27/2016 5:15:39 PM
Y - Highlighted in yellow with pivot point cited based on its 9/20/16 high plus 10 cents in the earlier mid-day report. Subsequent volume-driven gains for new highs may trigger a technical buy signal following a base-on-base pattern. Gapped up today rebounding above its 50 DMA line to challenge its all-time highs. Found support above prior highs in the $18 area during its quiet consolidation and little resistance remains due to overhead supply. Reported earnings +55% on +22% sales revenues for the Sep '16 quarter, marking its 3rd consecutive quarter above the +25% minimum earnings guideline (C criteria) with encouraging sales revenues and earnings acceleration helping it better match the fact-based investment system's guidelines. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Challenged 52-Week High With Gap Up and Volume-Driven Gain - 10/27/2016 |
View all notes |
Set NEW NOTE alert |
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C
A
S
I |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
|
$56.40
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-2.10
-3.59% |
$61.25
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249,219
123.99% of 50 DAV
50 DAV is 201,000
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$69.53
-18.88%
|
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 - 10/27/2016 5:21:25 PM
Reported Sep '16 quarterly earnings +36% on +42% sales revenues, and volume and volatility often increase near earnings news. Slumped further below its 50 DMA line and below prior low ($58.43 on 9/20/16), finishing near the session low with above average volume behind today's damaging loss. A rebound above its 50 DMA line is needed for its outlook to improve. It will be dropped from the Featured Stocks list tonight.
>>> FEATURED STOCK ARTICLE : Sputtering Below 50-Day Average Ahead of Earnings News - 10/26/2016 |
View all notes |
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C
A
S
I |
PAYC
-
NYSE
Paycom Software Inc
COMPUTER SOFTWARE and SERVICES - Application Software
|
$50.65
|
-1.08
-2.09% |
$52.15
|
928,876
164.69% of 50 DAV
50 DAV is 564,000
|
$52.93
-4.31%
|
10/18/2016
|
$50.25
|
PP = $53.03
|
|
MB = $55.68
|
Most Recent Note - 10/27/2016 5:28:41 PM
Y - Met resistance at its 52-week high and suffered 2 losses backed by above average volume in the past 3 sessions, slumping near its 50 DMA line ($50.05). Recent lows define near-term support in the $46-48 area. Previously noted - "Subsequent volume-driven gains above its pivot point are still needed to trigger a technical buy signal. Support is defined by the recent low 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)."
>>> FEATURED STOCK ARTICLE : Technical Breakout Needed to Trigger a Proper Buy Signal - 10/18/2016 |
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C
A
S
I |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$53.73
|
+0.17
0.32% |
$54.00
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53,724
91.06% of 50 DAV
50 DAV is 59,000
|
$54.00
-0.50%
|
7/19/2016
|
$53.28
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PP = $52.82
|
|
MB = $55.46
|
Most Recent Note - 10/24/2016 4:04:25 PM
Y - Touched a new high today. Gain on 10/19/16 backed by +127% above average volume helped clinch a technical buy signal. Found support after undercutting its 50 DMA line ($51.98) More damaging losses would raise concerns.
>>> FEATURED STOCK ARTICLE : Relative Strength Rating is Under Guidelines While Perched Near Highs - 9/22/2016 |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$51.72
|
-2.11
-3.92% |
$54.10
|
260,409
153.18% of 50 DAV
50 DAV is 170,000
|
$61.87
-16.41%
|
8/5/2016
|
$51.72
|
PP = $56.08
|
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MB = $58.88
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Most Recent Note - 10/27/2016 5:17:51 PM
Slumped further today with above average volume. Big volume-driven loss on the prior session violated support at its Sep '15 high in the $56 area raising greater concerns and triggering a technical sell signal. A rebound above the 50 DMA line is needed for its outlook to improve. It will be dropped from the Featured Stocks list tonight.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Line Helped Outlook - 10/20/2016 |
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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 |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$26.58
|
-0.21
-0.78% |
$26.89
|
486,954
44.88% of 50 DAV
50 DAV is 1,085,000
|
$28.72
-7.45%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
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MB = $30.14
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Most Recent Note - 10/24/2016 4:02:43 PM
Y - Wedging higher above its 50 DMA line ($26.56) with gains lacking volume conviction. Since highlighted in yellow with new pivot point cited based on its 9/01/16 high plus 10 cents, members were repeatedly reminded - "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 |
|
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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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You may opt-out of receiving report notifications
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