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AFTER MARKET UPDATE - MONDAY, OCTOBER 28TH, 2024
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DOW |
+273.17 |
42,387.57 |
+0.65% |
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Volume |
871,483,658 |
+6% |
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Volume |
5,835,495,800 |
-7% |
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NASDAQ |
+48.58 |
18,567.19 |
+0.26% |
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Advancers |
1,788 |
65% |
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Advancers |
2,904 |
68% |
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S&P 500 |
+15.40 |
5,823.52 |
+0.27% |
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Decliners |
949 |
35% |
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Decliners |
1,382 |
32% |
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Russell 2000 |
+36.07 |
2,244.07 |
+1.63% |
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52 Wk Highs |
86 |
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52 Wk Highs |
124 |
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S&P 600 |
+21.11 |
1,411.78 |
+1.52% |
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52 Wk Lows |
30 |
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52 Wk Lows |
79 |
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Breadth Positive as Major Indices Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 and Nasdaq Composite each ended +0.3% higher. The Dow Jones Industrial Average gained +0.7% and the Russell 2000 jumped +1.6%. The volume totals reported were mixed, higher than the prior session total on the NYSE and lighter on the Nasdaq exchange. Advancers led decliners by almost a 2-1 margin on the NYSE and by more than a 2-1 margin on the Nasdaq exchange. There were 33 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 40 on the prior session. New 52-week highs totals 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 S&P 500 Index posted a gain, consolidating near its all-time high.
The information technology sector closed -0.1% lower and the energy (-0.7%) suffered a larger loss, reacting to dropping oil prices. WTI crude oil futures slid -6.1% to $67.39/bbl in reaction to Israel's retaliation against Iran, which was limited to military targets, sparing oil and nuclear facilities.
Rising Treasury yields followed a fresh $69 bln 2-yr note auction that met poor demand and also a $70 bln 5-yr note sale which was priced worse than expected. The 2-yr yield settled four basis points higher at 4.14% lower and the 10-yr yield settled five basis points higher at 4.28%.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial Indexes Led with Influential Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +2.16%) and the Broker/Dealer Index ($XBD +2.16%) both posted solid gains as the Retail Index ($RLX +0.36%) edged higher. The Semiconductor Index ($SOX -0.02%) was unchanged while the Networking Index ($NWX +0.45%) and the Biotech Index ($BTK +1.06%) both posted gains. The Oil Services Index ($OSX -1.05%) and the Integrated Oil Index ($XOI -1.27%) both lost ground and the Gold & Silver Index ($XAU -0.21%) also inched lower.
PICTURED: The Bank Index ($BKX +2.16%) is consolidating near its 2024 high.
| Oil Services |
$OSX |
74.61 |
-0.96 |
-1.27% |
-11.05% |
| Integrated Oil |
$XOI |
1,871.33 |
-19.89 |
-1.05% |
+0.48% |
| Semiconductor |
$SOX |
5,211.67 |
-1.17 |
-0.02% |
+24.82% |
| Networking |
$NWX |
1,150.02 |
+5.14 |
+0.45% |
+38.09% |
| Broker/Dealer |
$XBD |
757.97 |
+16.04 |
+2.16% |
+36.01% |
| Retail |
$RLX |
4,678.48 |
+16.90 |
+0.36% |
+20.31% |
| Gold & Silver |
$XAU |
165.93 |
-0.35 |
-0.21% |
+32.02% |
| Bank |
$BKX |
123.34 |
+2.60 |
+2.16% |
+28.45% |
| Biotech |
$BTK |
5,822.57 |
+60.71 |
+1.05% |
+7.45% |
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ResMed Negated Friday's Breakout Raising Concerns
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
ResMed Medical-Products (RMD -$9.24 or -3.61% to $246.83) pulled back today with a loss backed by +79% above average volume. It was highlighted in yellow in the 10/25/24 mid-day report (read here) with pivot point cited based on its 9/09/24 high plus 10 cents after it gapped up hitting new multi-year highs. Although it triggered a triggered a technical buy signal on Friday, Monday's loss and close back below the pivot point promptly negated the breakout raising concerns. Confirming gains for new highs would be a reassuring signing of fresh institutional buying demand that could lead to a sustained and meaningful advance.
RMD has a 96 Earnings Per Share Rating, well above the 80+ minimum guideline for buy candidates. Bullish action came after it reported earnings +34% on +31% sales revenues for the Sep '24 quarter versus the year-ago period, marking its 3rd strong comparison above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) growth has been steady.
The number of top-rated funds owning its shares rose from 1,739 in Dec '23 to 1,882 in Sep '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.8 is an unbiased indication its shares have been under accumulation over the past 50 days. |
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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 |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$106.42
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+2.07
1.98% |
$106.93
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67,448
120.44% of 50 DAV
50 DAV is 56,000
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$105.59
0.79%
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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 - 10/23/2024 9:09:41 PM
G - Pulled back from its all-time high with today's loss backed by below-average volume. Its 50 DMA line ($88.62) and prior high in the $87 area define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Hovering Above Prior Highs Near All-Time High - 10/7/2024 |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$82.18
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+0.56
0.69% |
$82.63
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489,536
83.68% of 50 DAV
50 DAV is 585,000
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$84.10
-2.28%
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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 - 10/23/2024 9:24:19 PM
G - Churned heavy volume at its all-time high today. Its 50 DMA line ($77) defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High - 10/1/2024 |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$188.11
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+0.73
0.39% |
$189.42
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826,127
120.25% of 50 DAV
50 DAV is 687,000
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$189.97
-0.98%
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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 - 10/25/2024 12:28:26 PM
Y - Gapped up today hitting new all-time highs near its "max buy" level with a 2nd consecutive gain backed by heavy volume. Faces no resistance due to overhead supply. Prior highs in the $177-180 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for New High Close - 10/18/2024 |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$102.38
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+0.99
0.98% |
$102.60
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2,230,864
105.88% of 50 DAV
50 DAV is 2,107,000
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$106.93
-4.26%
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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 - 10/24/2024 6:58:29 PM
G - Pulled back further from its all-time high with today's loss. Slumped near prior highs in the $98 area which coincide with its 50 DMA defining important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best-Ever Close - 9/30/2024 |
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C
A
S
I |
MELI
-
NASDAQ
MercadoLibre
Retail-Internet
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$2,056.09
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+8.74
0.43% |
$2,082.00
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286,221
107.20% of 50 DAV
50 DAV is 267,000
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$2,161.73
-4.89%
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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 - 10/28/2024 10:04:54 PM
G - Posted a small gain today with average volume. Recently finding support near its 50 DMA line ($2,047). 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 |
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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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$27.20
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+0.62
2.33% |
$27.31
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66,074
78.66% of 50 DAV
50 DAV is 84,000
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$30.32
-10.29%
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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 - 10/28/2024 10:03:36 PM
G -Posted a gain today with below average volume, still consolidating near its 50 DMA line ($26.91) which has been acting as support after it slumped back below the previously cited pivot point raising concerns.
>>> FEATURED STOCK ARTICLE : Near 50-Day Moving Average After Volume-Driven Losses - 10/4/2024 |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$70.30
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+0.92
1.33% |
$70.72
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2,928,855
140.47% of 50 DAV
50 DAV is 2,085,000
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$70.07
0.33%
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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 - 10/25/2024 12:07:10 PM
G - Reported Sep '24 quarterly earnings +60% on +22% sales revenues versus the year ago period. Rising further and its color code is changed to green today after a gap up on the prior session, rallying to new all-time highs. A strong close above the pivot point backed by at least +40% above average volume may clinch a proper new technical buy signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Celistica Hits New All-Time High With 8th Straight Gain - 10/11/2024 |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$24.36
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-0.17
-0.69% |
$25.10
|
191,524
93.88% of 50 DAV
50 DAV is 204,000
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$27.06
-9.98%
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10/17/2024
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$26.15
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PP = $25.31
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MB = $26.58
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Most Recent Note - 10/24/2024 6:57:14 PM
Y - Posted a gain today with near average volume, halting its slide near prior highs in the $25 area.
>>> FEATURED STOCK ARTICLE : Paymentus Featured Breaking Out With Volume Driven Gains - 10/17/2024 |
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C
A
S
I |
RMD
-
NYSE
ResMed
Medical-Products
|
$246.83
|
-9.24
-3.61% |
$259.33
|
1,796,072
179.25% of 50 DAV
50 DAV is 1,002,000
|
$260.49
-5.24%
|
10/25/2024
|
$256.64
|
PP = $255.28
|
|
MB = $268.04
|
Most Recent Note - 10/28/2024 10:02:00 PM
Y - Loss today with above average volume negated Friday's breakout raising concerns. Its color code was changed to yellow in Friday's mid-day report with pivot point cited based on its 9/09/24 high plus 10 cents. Reported earnings +34% on +31% sales revenues for the Sep '24 quarter versus the year-ago period, its 3rd strong comparison above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) growth has been steady. See the latest FSU analysis for more details and a new annotatewd graph.
>>> FEATURED STOCK ARTICLE : ResMed Negated Friday's Breakout Raising Concerns - 10/28/2024 |
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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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