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AFTER MARKET UPDATE - THURSDAY, OCTOBER 31ST, 2024
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DOW |
-378.08 |
41,763.46 |
-0.90% |
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Volume |
1,197,910,275 |
+27% |
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Volume |
6,614,144,000 |
+2,657% |
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NASDAQ |
-512.78 |
18,095.15 |
-2.76% |
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Advancers |
815 |
30% |
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Advancers |
1,159 |
27% |
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S&P 500 |
-108.22 |
5,705.45 |
-1.86% |
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Decliners |
1,891 |
70% |
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Decliners |
3,071 |
73% |
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Russell 2000 |
-36.38 |
2,196.65 |
-1.63% |
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52 Wk Highs |
80 |
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52 Wk Highs |
72 |
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S&P 600 |
-22.39 |
1,383.60 |
-1.59% |
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52 Wk Lows |
71 |
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52 Wk Lows |
174 |
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Breadth Negative as Major Indices Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow Jones Industrial Average fell -0.9%, the S&P 500 dropped -1.9%, and the Nasdaq Composite registered a -2.8% decline. The volume totals reported were mixed, higher than the prior session total on the NYSE and lighter on the Nasdaq exchange. Decliners led advancers by more than a 2-1 margin on the NYSE and by almost a 3-1 margin on the Nasdaq exchange. There were 31 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 61 on the prior session. New 52-week highs totals outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs 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.
X PICTURED: The Nasdaq Composite Index posted a 4th consecutive gain and hit a new all-time high.
Losses in Microsoft (MSFT -6.0%) and Meta Platforms (META -4.1%) weighed down the equity market after their earnings reports. Monolithic Power (MPWR -17.5%) was the worst performer in the SOX Index even though the company beat Q3 expectations due to softer guidance than the market hoped for.
The S&P 500 information technology sector was the worst performing sector by a wide margin, ending with a -3.6% decline. The consumer discretionary sector was the next worst performer, dropping -1.8%. Sharp earnings-related declines also weighed on the market from Aptiv (APTV -17.7%), MGM Resorts (MGM -11.0%), and eBay (EBAY -8.2%).
The 10-yr yield settled at 4.28%. The 2-yr yield settled at 4.16%. The latest economic data included initial jobless claims, which were a low 216,000, and the Q3 Employment Cost Index, which was up 0.8%. Also, the fed's preferred gauge on inflation, the core-PCE Price Index, stuck at 2.7% year-over-year for the third straight month. Personal income was up 0.3% month-over-month in September and personal spending increased 0.5%.
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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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Tech, Financial, Retail, and Gold & Silver Indexes Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX -1.08%) and the Broker/Dealer Index ($XBD -1.63%) both lost ground and the Retail Index ($RLX -2.23%) suffered a larger loss. The Semiconductor Index ($SOX -4.01%) posted a standout loss and the Networking Index ($NWX -1.47%) and Biotech Index ($BTK -0.86%) both suffered smaller losses. Commodity-linked groups were mixed as the Oil Services Index ($OSX +0.64%) and the Integrated Oil Index ($XOI +0.76%) both gained ground, meanwhile, the Gold & Silver Index ($XAU -3.15%) suffered a large loss.
| Oil Services |
$OSX |
74.38 |
+0.47 |
+0.64% |
-11.32% |
| Integrated Oil |
$XOI |
1,848.44 |
+14.01 |
+0.76% |
-0.75% |
| Semiconductor |
$SOX |
4,946.75 |
-206.75 |
-4.01% |
+18.47% |
| Networking |
$NWX |
1,157.16 |
-17.29 |
-1.47% |
+38.95% |
| Broker/Dealer |
$XBD |
747.37 |
-12.40 |
-1.63% |
+34.11% |
| Retail |
$RLX |
4,605.44 |
-105.17 |
-2.23% |
+18.43% |
| Gold & Silver |
$XAU |
161.20 |
-5.25 |
-3.15% |
+28.25% |
| Bank |
$BKX |
121.85 |
-1.33 |
-1.08% |
+26.90% |
| Biotech |
$BTK |
5,837.60 |
-50.63 |
-0.86% |
+7.73% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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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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$112.78
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+5.71
5.33% |
$114.75
|
128,412
225.28% of 50 DAV
50 DAV is 57,000
|
$108.70
3.75%
|
9/17/2024
|
$71.26
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PP = $87.23
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MB = $91.59
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Most Recent Note - 10/31/2024 1:57:08 PM
G - Posting a 6th consecutive gain today backed by average volume for yet another new all-time high. Its 50 DMA line ($92) 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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$84.05
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+1.99
2.43% |
$85.71
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1,806,816
302.65% of 50 DAV
50 DAV is 597,000
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$84.10
-0.06%
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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 - 10/31/2024 1:26:39 PM
G - Reported Sep '24 quarterly earnings +19% on +14% sales revenues versus the year ago period. Gapped down today and briefly undercut its 50 DMA line ($78.42) before managing an impressive "positive reversal" and rallying to a new all-time high.
>>> 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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$191.12
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-2.83
-1.46% |
$196.16
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921,338
132.76% of 50 DAV
50 DAV is 694,000
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$196.29
-2.63%
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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 - 10/30/2024 2:26:23 PM
G - Color code is changed to green today while hitting new all-time highs above its "max buy" level with a 5th consecutive gain. 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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$99.72
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-1.42
-1.40% |
$101.48
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2,673,815
122.48% of 50 DAV
50 DAV is 2,183,000
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$106.93
-6.74%
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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 - 10/30/2024 1:11:13 PM
G - Consolidating near its 50 DMA ($99) and prior highs in the $98 area which coincide defining important near-term support to watch. More damaging losses would raise concerns and trigger a technical sell signal.
>>> 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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$2,037.18
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+16.46
0.81% |
$2,048.34
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324,175
120.06% of 50 DAV
50 DAV is 270,000
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$2,161.73
-5.76%
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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 |
|
Max Buy |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$27.38
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+0.10
0.37% |
$27.63
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43,005
51.81% of 50 DAV
50 DAV is 83,000
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$30.32
-9.70%
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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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News |
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C
A
S
I |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$68.40
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-1.38
-1.98% |
$69.60
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1,541,870
72.18% of 50 DAV
50 DAV is 2,136,000
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$70.81
-3.40%
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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 - 10/30/2024 2:28:30 PM
G - Hitting another new all-time high with today's gain. Stubbornly holding its ground after noted volume-driven gains. Reported Sep '24 quarterly earnings +60% on +22% sales revenues versus the year-ago period. Fundamentals remain strong. Prior highs in the $63 area define initial support to watch on pullbacks.
>>> 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
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$24.61
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-0.68
-2.69% |
$25.51
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168,259
81.68% of 50 DAV
50 DAV is 206,000
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$27.06
-9.05%
|
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 - 10/30/2024 2:25:06 PM
Y - Posting a 2nd consecutive gain today with below-average volume. Halted its slide near prior highs in the $25 area.
>>> FEATURED STOCK ARTICLE : Paymentus Featured Breaking Out With Volume Driven Gains - 10/17/2024 |
View all notes |
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News |
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C
A
S
I |
RMD
-
NYSE
ResMed
Medical-Products
|
$242.47
|
-0.55
-0.23% |
$243.67
|
1,165,516
111.75% of 50 DAV
50 DAV is 1,043,000
|
$260.49
-6.92%
|
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 |
ATGE
-
NYSE
Adtalem Global Education
Consumer Svcs-Education
|
$80.92
|
-1.20
-1.46% |
$83.20
|
525,921
147.32% of 50 DAV
50 DAV is 357,000
|
$85.26
-5.09%
|
10/30/2024
|
$83.34
|
PP = $80.28
|
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MB = $84.29
|
Most Recent Note - 10/30/2024 12:56:07 PM
Y - Color code is changed to yellow with pivot point citer based upon its 7/23/24 high plus 10 cents. Hitting new 52-week and all-time highs with today's big volume-driven gain. Reported Sep '24 quarterly earnings +39% on +13% sales revenues versus the year ago period, marking its 3rd strong quarterly earnings increase above the +25% minimum guideline (C criteria). Annual earnings growth has been strong.
There are no Featured Stock Updates™ available for this stock at this time. You may request one by clicking the Request a New Note link below |
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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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