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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 18TH, 2024
Previous After Market Report
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DOW |
-1,123.03 |
42,326.87 |
-2.58% |
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Volume |
1,329,256,622 |
+14% |
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Volume |
10,402,512,700 |
+9% |
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NASDAQ |
-716.37 |
19,392.69 |
-3.56% |
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Advancers |
214 |
8% |
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Advancers |
720 |
17% |
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S&P 500 |
-178.45 |
5,872.16 |
-2.95% |
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Decliners |
2,519 |
92% |
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Decliners |
3,631 |
83% |
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Russell 2000 |
-102.57 |
2,231.51 |
-4.39% |
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52 Wk Highs |
41 |
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52 Wk Highs |
127 |
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S&P 600 |
-59.20 |
1,414.03 |
-4.02% |
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52 Wk Lows |
208 |
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52 Wk Lows |
325 |
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Pressure Mounts as Major Indices Fall With Greater Conviction
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 slid 178 points, the Nasdaq Composite was 3.5% lower, and the Dow Jones Industrial Average closed more than 1,100 points lower, logging its tenth consecutive decline. Volume was higher than the prior session totals on the NYSE and on the Nasdaq exchange, action indicative of distributional pressure. Decliners led advancers by an 11-1 margin at the NYSE and by 5-1 at the Nasdaq exchange. There were 8 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 22 on the prior session. New 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The major indices' uptrend has come under pressure (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 Dow Jones Industrial Average pulled back more abruptly for a 10th consecutive loss from its all-time high.
Weakness followed the FOMC's decision to cut rates 25 basis points to 4.25-4.50%, as expected. The Summary of Economic Projections showed that the median estimate for PCE inflation and core PCE inflation was increased for 2024 and 2025, but the estimate for unemployment was decreased for 2024 and 2025.
All 11 S&P 500 sectors registered declines ranging from 1.4% (health care) to 4.7% (consumer discretionary). The 10-yr yield jumped 11 basis points to 4.49%. The 2-yr yield surged 11 basis points to 4.35%.
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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, Retail, Tech, and Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -4.22%) and the Bank Index ($BKX -4.28%) both lost considerable ground and outpaced the Retail Index ($RLX -3.98%) to the downside on Wednesday. The tech sector had a negative bias as the Semiconductor Index ($SOX -3.85%), Networking Index ($NWX -2.51%), and the Biotech Index ($BTK -3.60%) each lost ground. Commodity-linked groups also had a negative bias as the Gold & Silver Index ($XAU -4.69%), Oil Services Index ($OSX -3.67%), and the Integrated Oil Index ($XOI -2.60%) each finished the session considerably lower.
PICTURED: The Retail Index ($RLX -3.98%) ended with a considerable loss, slumping toward its 50-day moving average line.
| Oil Services |
$OSX |
69.90 |
-2.66 |
-3.67% |
-16.66% |
| Integrated Oil |
$XOI |
1,715.11 |
-45.80 |
-2.60% |
-7.91% |
| Semiconductor |
$SOX |
4,970.98 |
-198.81 |
-3.85% |
+19.05% |
| Networking |
$NWX |
1,253.96 |
-32.26 |
-2.51% |
+50.57% |
| Broker/Dealer |
$XBD |
786.52 |
-34.66 |
-4.22% |
+41.13% |
| Retail Index |
$RLX |
5,178.11 |
-214.72 |
-3.98% |
+33.16% |
| Gold & Silver |
$XAU |
138.45 |
-6.81 |
-4.69% |
+10.15% |
| Bank |
$BKX |
124.75 |
-5.57 |
-4.28% |
+29.92% |
| Biotech |
$BTK |
5,718.97 |
-213.65 |
-3.60% |
+5.54% |
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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
|
$133.61
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-7.79
-5.51% |
$144.20
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103,017
105.12% of 50 DAV
50 DAV is 98,000
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$159.53
-16.25%
|
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 - 12/18/2024 9:45:32 PM
G - Fell today for a 4th consecutive loss with average volume. Slumped near its 50 DMA line ($129.50) which defines important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After Impressive Rally - 11/12/2024 |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$89.16
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-2.62
-2.85% |
$93.75
|
640,334
95.86% of 50 DAV
50 DAV is 668,000
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$105.20
-15.25%
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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 - 12/17/2024 2:02:05 PM
G - Testing its 50 DMA line ($91.17) today wit its 8th loss in the span of 9 sessions after a "negative reversal" at its all-time high. More damaging losses may trigger a technical sell signal. Reported Sep '24 quarterly earnings +19% on +14% sales revenues versus the year-ago period, repeatedly noted as "below the +25% minimum guideline (C criteria) of the fact-based investment system."
>>> FEATURED STOCK ARTICLE : Negative Reversal After Hitting New All-Time High - 12/6/2024 |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$178.95
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-7.97
-4.26% |
$187.46
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788,721
113.81% of 50 DAV
50 DAV is 693,000
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$206.04
-13.15%
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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 - 12/17/2024 3:08:24 PM
G - Quietly slumped below its 50 DMA line ($190) raising concerns with recent losses backed by light volume. A prompt rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Hovering Near High After Recent Volume-driven Gains - 11/15/2024 |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$107.69
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-4.24
-3.79% |
$112.31
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2,448,450
105.35% of 50 DAV
50 DAV is 2,324,000
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$120.71
-10.79%
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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 - 12/17/2024 1:57:05 PM
G - Pulling back today for a 4th consecutive loss with lighter volume. Its 50 DMA line ($110.14) and prior high ($106.93 on 10/21/24) define near-term support levels to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base and Perched at High - 12/5/2024 |
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C
A
S
I |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$38.20
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-2.43
-5.98% |
$41.17
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120,033
115.42% of 50 DAV
50 DAV is 104,000
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$47.57
-19.70%
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11/5/2024
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$30.57
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PP = $30.42
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MB = $31.94
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Most Recent Note - 12/18/2024 9:39:49 PM
G - Pulled back for a 5th consecutive loss, retreating from its all-time high after getting very extended from any sound base. Reported Sep '24 quarterly earnings +50% on +9% sales revenues versus the year-ago period. Its 50 DMA line ($34.77) defines near-term support above prior highs in the $30 area.
>>> FEATURED STOCK ARTICLE : Consolidating After Considerable Rally to New Highs - 12/16/2024 |
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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 |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$92.11
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-5.70
-5.83% |
$99.60
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2,639,157
104.23% of 50 DAV
50 DAV is 2,532,000
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$100.51
-8.36%
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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 - 12/18/2024 9:38:39 PM
G - Suffered a big loss today with higher (near average) volume while retreating from its all-time high. It is very extended from any sound base. Its 50 DMA line ($79) defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Pulling Back After Considerable Rally - 11/13/2024 |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$33.76
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-1.95
-5.46% |
$35.84
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668,103
159.45% of 50 DAV
50 DAV is 419,000
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$38.94
-13.30%
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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 - 12/18/2024 9:41:06 PM
G - Suffered a big loss today with above average volume. Consolidating well above its 50 DMA line ($30) which defines important near-term support to watch. It is extended from any sound base.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After Considerable Spike Higher - 11/14/2024 |
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C
A
S
I |
RMD
-
NYSE
Resmed Inc
HEALTH SERVICES - Medical Appliances and Equipment
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$230.21
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-12.41
-5.11% |
$240.18
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871,441
95.94% of 50 DAV
50 DAV is 908,300
|
$260.49
-11.62%
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10/25/2024
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$256.64
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PP = $255.28
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MB = $268.04
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Most Recent Note - 12/18/2024 9:43:24 PM
G - Closed near the session low as it slumped further below its 50 DMA line ($242.68) with today's damaging loss undercutting the prior low. Its Relative Strength Rating has slumped to 75, below the 80+ minimum guideline for buy candidates, raising concerns.
>>> FEATURED STOCK ARTICLE : Recent Slump Below 50-Day Moving Average Raised Concerns - 11/18/2024 |
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C
A
S
I |
ATGE
-
NYSE
Adtalem Global Education
Consumer Svcs-Education
|
$85.98
|
-4.26
-4.72% |
$90.81
|
482,386
136.65% of 50 DAV
50 DAV is 353,000
|
$92.93
-7.48%
|
10/30/2024
|
$83.34
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PP = $80.28
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|
MB = $84.29
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Most Recent Note - 12/16/2024 12:44:56 PM
G - Consolidating in an orderly fashion near its all-time high. Its 50 DMA line ($83.20) defines initial support above prior highs in the $80 area. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hovering Near High With Volume Totals Cooling - 12/4/2024 |
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C
A
S
I |
TW
-
NASDAQ
Tradeweb Markets
Financial Svcs-Specialty
|
$130.44
|
-2.85
-2.14% |
$134.00
|
983,363
112.77% of 50 DAV
50 DAV is 872,000
|
$141.69
-7.94%
|
11/19/2024
|
$134.41
|
PP = $136.23
|
|
MB = $143.04
|
Most Recent Note - 12/17/2024 3:07:38 PM
Y - Consolidating above its 50 DMA line ($132) after encountering distributional pressure. Since recently featured it has not produced a volume-driven gain above the pivot point to trigger a proper technical buy signal. It was highlighted in yellow with pivot point cited based on its 10/15/24 high plus 10 cents.
>>> FEATURED STOCK ARTICLE : Tradeweb Markets Perched Near High - 11/19/2024 |
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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 |
ATAT
-
NASDAQ
Atour Lifestyle Hldgs ADR
Leisure-Lodging
|
$27.31
|
-0.90
-3.19% |
$28.78
|
911,340
70.70% of 50 DAV
50 DAV is 1,289,000
|
$29.90
-8.66%
|
12/9/2024
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$29.34
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PP = $29.25
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MB = $30.71
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Most Recent Note - 12/17/2024 12:11:57 PM
Y - Rallying near prior highs with today's big gain backed by higher volume. Found support near its 50 DMA line ($26.66). A violation would trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Volume Above Average Behind Breakout Gain - 12/9/2024 |
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C
A
S
I |
VEEV
-
NYSE
Veeva Systems Inc Cl A
Computer Sftwr-Medical
|
$221.54
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-4.87
-2.15% |
$229.14
|
1,063,115
96.39% of 50 DAV
50 DAV is 1,102,900
|
$258.93
-14.44%
|
12/9/2024
|
$250.70
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PP = $240.68
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MB = $252.71
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Most Recent Note - 12/16/2024 12:48:00 PM
Y - It has slumped back well into the prior base raising concerns following a noted 12/06/24 "breakaway gap". Reported Oct '24 quarterly earnings +31% on +13% sales revenues versus the year-ago period, its 3rd consecutive quarterly comparison above the +25% minimum earnings guideline (C criteria). Annual earnings growth has been strong.
>>> FEATURED STOCK ARTICLE : Veeva Systems Consolidating After "Breakaway Gap" - 12/10/2024 |
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C
A
S
I |
CRAI
-
NASDAQ
CRA International
Comml Svcs-Consulting
|
$188.57
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-17.98
-8.70% |
$206.67
|
44,726
124.24% of 50 DAV
50 DAV is 36,000
|
$210.70
-10.50%
|
12/17/2024
|
$208.34
|
PP = $208.48
|
|
MB = $218.90
|
Most Recent Note - 12/18/2024 9:35:53 PM
Y - Negated the prior breakout with a big loss today. Highlighted in yellow in the prior mid-day report with pivot point cited based on its 11/06/24 high plus 10 cents after a 6-week base. Reported Sep '24 quarterly earnings +57% on +14% sales revenues versus the year-ago period, its 3rd strong quarter above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) growth has been strong and steady. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain for New High Triggered Technical Buy Signal - 12/17/2024 |
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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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