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AFTER MARKET UPDATE - FRIDAY, NOVEMBER 4TH, 2022
Previous After Market Report Next After Market Report >>>
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DOW |
+401.97 |
32,403.22 |
+1.26% |
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Volume |
1,088,101,273 |
+14% |
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Volume |
5,420,108,700 |
+8% |
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NASDAQ |
+132.31 |
10,475.25 |
+1.28% |
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Advancers |
2,072 |
70% |
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Advancers |
2,609 |
58% |
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S&P 500 |
+50.66 |
3,770.55 |
+1.36% |
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Decliners |
872 |
30% |
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Decliners |
1,927 |
42% |
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Russell 2000 |
+20.14 |
1,799.87 |
+1.13% |
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52 Wk Highs |
85 |
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52 Wk Highs |
93 |
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S&P 600 |
+17.78 |
1,171.36 |
+1.54% |
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52 Wk Lows |
217 |
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52 Wk Lows |
355 |
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Major Averages Overcame Early Weakness to Post Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow added 401 points, while the Nasdaq Composite climbed 1.3%. The S&P 500 advanced 1.4%. Despite today’s gains, the major averages declined for the week. The S&P 500 and Dow fell 3.4% and 1.4%, respectively. The Nasdaq Composite slid 5.7% in its worst weekly performance since January. The volume totals reported were higher than the prior session on the NYSE and on the Nasdaq exchange, indicative of an increase in institutional buying demand. Breadth was positive as advancers led decliners by more than a 2-1 margin on the NYSE and by a 5-4 margin on the Nasdaq exchange. Leadership improved as there were 56 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, more than doubling the total of 23 on the prior session. New 52-week lows totals again outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The market is in a confirmed uptrend (M criteria) but encountering some new pressure. Healthy leadership (new 52-week highs totals) will be essential in the near-term for the rally to be productive. Only stocks meeting all key-criteria of the fact-based investment system should be considered as buy candidates.
Chart courtesy of www.stockcharts.com PICTURED: The Nasdaq Composite Index overcame early weakness to post a gain on Friday. Its October 13th low defines important near-term support.
U.S. equities finished higher Friday as Wall Street digested the October jobs report. The data painted a mixed picture, with the unemployment rate coming in higher than expected at 3.7%, while nonfarm payrolls exceeded analysts’ estimates, increasing 261,000 compared to September’s 315,000 figure. Average hourly earnings climbed 0.4% month-over-month, accelerating from September’s 0.3% monthly gain. Compared to the year before, they eased from 5% to 4.7%. The labor force participation rate ticked down slightly to 62.2%. The report is not likely to sway the Federal Reserve (Fed) from their current course of tightening, as it showed robust demand for labor despite a rise in unemployment.
Treasuries were mixed, with the benchmark 10-year note yield climbing three basis points (0.03%) to 4.17%, while the yield on the 30-year note advanced nine basis points (0.09%) to 4.27%. The yield on the more policy-sensitive two-year note fell five basis points (0.05%) to 4.66%. Yields climbed this week following the Fed decision to raise rates by 75 basis points (0.75%). In commodities, West Texas Intermediate (WTI) crude climbed 5% to $92.58/barrel amid tight global supply conditions and a softening U.S. dollar. The domestic benchmark added 5.4% this week as sentiment over supply outweighed demand concerns. The U.S. Dollar Index fell 2% today and notched a 0.3% weekly decline. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver and Semiconductor Indexes Led Group Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +2.55%), Broker/Dealer Index ($XBD +1.67%), and Retail Index ($RLX +1.08%) posted influential gains. The Oil Services Index ($OSX +1.97%) and Integrated Oil Index ($XOI +1.21%) also notched solid gains. The Semiconductor Index ($SOX +4.60%) led the tech sector while the Biotech Index ($BTK +0.77%) posted a smaller gain, but the Networking Index ($NWX -1.11%) lost ground.
PICTURED: The Gold & Silver Index ($XAU +9.62%) was a standout gainer on Friday, rebounding back above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
84.91 |
+1.64 |
+1.97% |
+61.06% |
| Integrated Oil |
$XOI |
1,886.65 |
+22.50 |
+1.21% |
+60.13% |
| Semiconductor |
$SOX |
2,398.24 |
+105.38 |
+4.60% |
-39.23% |
| Networking |
$NWX |
786.83 |
-8.87 |
-1.11% |
-18.97% |
| Broker/Dealer |
$XBD |
470.78 |
+7.75 |
+1.67% |
-3.30% |
| Retail |
$RLX |
2,749.04 |
+29.29 |
+1.08% |
-34.96% |
| Gold & Silver |
$XAU |
106.30 |
+9.33 |
+9.62% |
-19.74% |
| Bank |
$BKX |
103.91 |
+2.59 |
+2.55% |
-21.41% |
| Biotech |
$BTK |
4,930.50 |
+37.68 |
+0.77% |
-10.65% |
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Finished Strong After Highlighted in Friday Mid-Day Report
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Enpro Industries Inc (NPO +$2.44 or +2.06% to $120.88) finished strong after highlighted in yellow with pivot point cited based on its 1/14/22 high plus 10 cents in the earlier mid-day report (read here). It faces no resistance due to overhead supply. Rallied into new 52-week high territory this week with impressive volume-driven gains after a 9-month consolidation.
NPO has a 98 Earnings Per Share Rating. It reported Sep '22 quarterly earnings +65% on +34% sales revenues versus the year ago period, its 3rd strong quarterly comparison above the +25% minimum earnings guideline (C criteria), helping it better match the winning models of the fact-based investment system. Annual earnings growth has been steady even through the pandemic. It hails from the Machinery-Gen Industrial group which is currently ranked 33rd on the 197 Industry Groups list (L criteria).
Its small supply of only 20.8 million shares outstanding can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares fell from 411 in Mar '22 to 400 in Sep '22, however its current Up/Down Volume Ratio of 1.2 is an unbiased indication its shares have been under accumulation over the past 50 days. It has an A Timeliness Rating and a B Sponsorship Rating.. |
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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 |
CI
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NYSE
Cigna Corp
Medical-Managed Care
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$322.13
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-2.11
-0.65% |
$327.00
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2,200,254
110.84% of 50 DAV
50 DAV is 1,985,000
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$328.51
-1.94%
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7/7/2022
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$276.55
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PP = $273.68
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MB = $287.36
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Most Recent Note - 11/3/2022 5:08:22 PM
G - Reported Sep '22 quarterly earnings +5% after the close. Perched at its all-time high. Its 50 DMA line ($292.28) defines near-term support to watch. Volume and volatility often increase near earnings news. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Cigna Reported Earnings Perched at High - 11/3/2022 |
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C
A
S
I |
ESQ
-
NASDAQ
Esquire Financial Hldgs
Finance-Commercial Loans
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$47.25
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+1.50
3.28% |
$48.13
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26,287
97.36% of 50 DAV
50 DAV is 27,000
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$45.98
2.76%
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10/18/2022
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$40.02
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PP = $39.95
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MB = $41.95
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Most Recent Note - 11/4/2022 5:37:08 PM
G - Hit another new 52-week high with today's gain, getting more extended from the previously noted base. Prior highs in the $41 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : New High With 6th Consecutive Volume-Driven Gain - 10/31/2022 |
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C
A
S
I |
CCRN
-
NASDAQ
Cross Country Healthcare
DIVERSIFIED SERVICES - Staffing and Outsourcing Service
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$32.50
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-4.28
-11.64% |
$37.69
|
1,908,971
213.05% of 50 DAV
50 DAV is 896,000
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$40.12
-18.99%
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9/9/2022
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$27.32
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PP = $30.61
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MB = $32.14
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Most Recent Note - 11/4/2022 5:32:15 PM
G - Suffered a damaging volume-driven loss, abruptly retreating from its new all-time high nearly falling to its "max buy" level. Reported Sep '22 quarterly earnings +75% on +70% sales revenues versus the year ago period. Prior highs in the $30.50 area define important near-term support to watch along with its 50 DMA line ($30.77).
>>> FEATURED STOCK ARTICLE : Healthcare Staffing Firm Hovering Near All-Time High - 10/17/2022 |
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C
A
S
I |
CMC
-
NYSE
Commercial Metals Co
METALS and MINING - Steel and Iron
|
$45.84
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+1.88
4.28% |
$46.85
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864,806
82.76% of 50 DAV
50 DAV is 1,045,000
|
$46.68
-1.80%
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10/14/2022
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$41.61
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PP = $44.45
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MB = $46.67
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Most Recent Note - 11/4/2022 5:36:20 PM
Y - Posted a big gain today with lighter than average volume while touching a new 52-week high. Reported Aug '22 quarterly earnings +94% on +19% sales revenues versus the year ago period and prior quarterly comparisons were well above the +25% minimum earnings guideline (C criteria) of the fact-based investment system. Annual earnings growth has been strong.
>>> FEATURED STOCK ARTICLE : Little Resistance Remains for Strong Steel/Metal Products Firm - 10/14/2022 |
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C
A
S
I |
VRTX
-
NASDAQ
Vertex Pharmaceuticals
Medical-Biomed/Biotech
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$308.82
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-2.48
-0.80% |
$312.60
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1,179,818
84.21% of 50 DAV
50 DAV is 1,401,000
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$316.48
-2.42%
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10/24/2022
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$308.47
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PP = $306.05
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MB = $321.35
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Most Recent Note - 11/3/2022 11:31:09 AM
Y - Holding its ground today, it touched a new all-time high on the prior session but ended with a small loss. Its 50 DMA line ($293) defines near-term support . Reported Sep '22 quarterly earnings +14% on +18% sales revenues versus the year ago period, below the +25% minimum earnings guideline raising concerns (C criteria). Annual earnings (A criteria) history has been strong.
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain Triggered Technical Buy Signal - 10/24/2022 |
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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 |
CLFD
-
NASDAQ
Clearfield Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
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$104.60
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-6.09
-5.50% |
$113.35
|
282,297
121.16% of 50 DAV
50 DAV is 233,000
|
$130.01
-19.54%
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10/25/2022
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$117.96
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PP = $130.11
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MB = $136.62
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Most Recent Note - 11/4/2022 5:33:50 PM
Y - Pulled back today for a 5th consecutive loss with higher volume while testing its 50 DMA line ($103.72). New pivot point was cited based on its 8/25/22 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Was due to report Sep '22 quarterly results after the close. Volume and volatility often increase near earnings news.
>>> FEATURED STOCK ARTICLE : Clearfield Perched -8.6% Off High After Recent Rebound - 10/27/2022 |
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C
A
S
I |
GPK
-
NYSE
Graphic Packaging Hldg
CONSUMER NON-DURABLES - Packaging and Containers
|
$22.79
|
+0.38
1.70% |
$23.06
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2,011,709
71.62% of 50 DAV
50 DAV is 2,809,000
|
$24.07
-5.32%
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10/25/2022
|
$22.75
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PP = $24.17
|
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MB = $25.38
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Most Recent Note - 11/3/2022 5:13:54 PM
Y - Halted its slide today with a small gain on lighter volume after 5 consecutive losses. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Reported Sep '22 quarterly earnings +79% on +38% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Helped Outlook Improve - 10/25/2022 |
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C
A
S
I |
CBZ
-
NYSE
C B I Z Inc
Comml Svcs-Consulting
|
$46.38
|
-0.39
-0.83% |
$47.38
|
219,997
83.33% of 50 DAV
50 DAV is 264,000
|
$50.57
-8.29%
|
10/26/2022
|
$47.83
|
PP = $48.57
|
|
MB = $51.00
|
Most Recent Note - 11/4/2022 5:38:49 PM
Y - Pulled back today with below average volume for 5th consecutive loss undercutting the prior high in the $48 area raising some concerns. Its 50 DMA line ($45) defines the next important support. Recently reported Sep '22 quarterly earnings +24% on +28% sales revenues versus the year ago period. Volume and volatility often increase near earnings news.
>>> FEATURED STOCK ARTICLE : Earnings Report Due for Commercial Services and Consulting Firm - 10/26/2022 |
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C
A
S
I |
ENPH
-
NASDAQ
Enphase Energy Inc
Energy-Solar
|
$282.44
|
-13.67
-4.62% |
$305.30
|
4,114,785
104.12% of 50 DAV
50 DAV is 3,952,000
|
$324.84
-13.05%
|
10/26/2022
|
$301.55
|
PP = $324.94
|
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MB = $341.19
|
Most Recent Note - 11/4/2022 5:35:05 PM
Y - Pulled back with average volume testing its 50 DMA line ($282.55). Still faces some resistance due to overhead supply up to the $324 level. Reported Sep '22 quarterly earnings +108% on +81% sales revenues versus the year ago period, continuing its strong earnings history above the +25% minimum guideline (C criteria).
>>> FEATURED STOCK ARTICLE : Enphase Energy Rebound Above 50-Day Moving Average Helped Outlook - 10/28/2022 |
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C
A
S
I |
HRMY
-
NASDAQ
Harmony Biosciences Hldg
Medical-Biomed/Biotech
|
$58.85
|
-1.09
-1.82% |
$60.66
|
715,694
144.00% of 50 DAV
50 DAV is 497,000
|
$60.62
-2.91%
|
11/1/2022
|
$55.31
|
PP = $57.23
|
|
MB = $60.09
|
Most Recent Note - 11/3/2022 5:12:18 PM
Y - Posted a gain today with +81% above average volume for another new high while challenging its "max buy" level. Prior highs in the $57 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind Technical Breakout After Earnings - 11/1/2022 |
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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 |
CLH
-
NYSE
Clean Harbors Inc
Pollution Control
|
$111.93
|
+0.20
0.18% |
$115.64
|
505,252
117.50% of 50 DAV
50 DAV is 430,000
|
$124.49
-10.09%
|
11/2/2022
|
$121.59
|
PP = $124.59
|
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MB = $130.82
|
Most Recent Note - 11/3/2022 11:24:32 AM
G - Violated its 50 DMA line ($116.93) with today's 4th consecutive loss raising concerns and its color code is changed to green. A rebound above the 50 DMA line is needed for its outlook to improve. Showed resilience since dropped from the Featured Stocks list on 9/26/22. Fundamentals remain strong after reporting Sep '22 quarterly earnings +113% on +43% sales revenues versus the year ago period. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Testing 50 Day Moving Average Line After Forming New Base - 11/2/2022 |
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C
A
S
I |
NPO
-
NYSE
Enpro Industries Inc
Machinery-Gen Industrial
|
$120.88
|
+2.44
2.06% |
$121.83
|
171,792
188.78% of 50 DAV
50 DAV is 91,000
|
$118.64
1.89%
|
11/4/2022
|
$119.06
|
PP = $117.73
|
|
MB = $123.62
|
Most Recent Note - 11/4/2022 5:30:35 PM
Y - Finished strong after highlighted in yellow with pivot point cited based on its 1/14/22 high plus 10 cents in the earlier mid-day report. Faces no resistance due to overhead supply. Rallied into new 52-week high territory this week with impressive volume-driven gains after a 9-month consolidation. Reported Sep '22 quarterly earnings +65% on +34% sales revenues versus the year ago period, its 3rd strong quarterly comparison above the +25% minimum earnings guideline (C criteria), helping it better match the winning models of the fact-based investment system. Annual earnings growth has been steady even through the pandemic. See the latest FSU analysis for more details and an new annotated graph.
>>> FEATURED STOCK ARTICLE : Finished Strong After Highlighted in Friday Mid-Day Report - 11/4/2022 |
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C
A
S
I |
|
|
|
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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