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AFTER MARKET UPDATE - TUESDAY, NOVEMBER 5TH, 2024
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DOW |
+427.28 |
42,221.88 |
+1.02% |
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Volume |
892,560,588 |
+0% |
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Volume |
7,086,373,100 |
+21% |
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NASDAQ |
+259.19 |
18,439.17 |
+1.43% |
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Advancers |
2,200 |
82% |
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Advancers |
3,056 |
72% |
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S&P 500 |
+70.07 |
5,782.76 |
+1.23% |
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Decliners |
497 |
18% |
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Decliners |
1,185 |
28% |
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Russell 2000 |
+41.81 |
2,260.84 |
+1.88% |
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52 Wk Highs |
129 |
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52 Wk Highs |
133 |
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S&P 600 |
+28.35 |
1,424.37 |
+2.03% |
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52 Wk Lows |
49 |
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52 Wk Lows |
114 |
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Breadth Positive as Major Indices Rose on Election Day
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks had a solid showing on Election Day. The S&P 500 jumped +1.2%; the Nasdaq Composite gained +1.4%; the Dow Jones Industrial Average ended +0.4% higher; and the Russell 2000 rose +1.9%. The volume totals reported were higher than the prior session total on the NYSE and on the Nasdaq exchange, action indicative of increasing institutional buying demand. Advancers led decliners by more than a 4-1 margin on the NYSE and by a 5-2 margin on the Nasdaq exchange. There were 81 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 39 on the prior session. New 52-week highs totals expanded and 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, finding prompt support at its 50-day moving average line while consolidating near its all-time high.
Stocks saw buying increase in response to a jump in the ISM Services PMI for October which bodes well for economic and earnings growth. 24 of the 30 Dow components closed with gains. All 11 S&P 500 sectors closed higher and seven of them were at least +1.0% higher. The consumer discretionary sector (+1.8%) was he best performer.
The information technology sector (+1.5%) was lifted by mega caps and chipmakers. NVIDIA (NVDA +2.84%) was a standout while it passed Apple (AAPL +0.65%) in terms of market cap. Palantir Technologies (PLTR +23.47%), DuPont (DD +4.67%), and GlobalFoundries (GFS +14.88%) posted big gains following earnings reports.
Treasuries settled in mixed, as the 10-yr yield settled two basis points lower at 4.29% and the 2-yr yield settled three basis points higher at 4.21%. A fresh $42 billion 10-yr note sale met solid demand.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Financial, Tech, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.62%), Bank Index ($BKX +1.38%), and the Broker/Dealer Index ($XBD +1.75%) ended unanimously higher on Tuesday's session. The tech sector had a positive bias as the Semiconductor Index ($SOX +1.69%), Networking Index ($NWX +1.40%), and the Biotech Index ($BTK +1.64%) each posted gains. Commodity-linked groups also had a positive bias as the Oil Services Index ($OSX +1.40%) outpaced the Integrated Oil Index ($XOI +0.32%) and the Gold & Silver Index ($XAU +0.53%).
PICTURED: The Networking Index ($NWX +1.40%) posted a gain for its all-time high close.
| Oil Services |
$OSX |
76.06 |
+1.05 |
+1.40% |
-9.32% |
| Integrated Oil |
$XOI |
1,872.35 |
+5.93 |
+0.32% |
+0.53% |
| Semiconductor |
$SOX |
5,057.83 |
+83.84 |
+1.69% |
+21.13% |
| Networking |
$NWX |
1,183.94 |
+16.35 |
+1.40% |
+42.16% |
| Broker/Dealer |
$XBD |
764.03 |
+13.18 |
+1.75% |
+37.10% |
| Retail |
$RLX |
4,844.82 |
+77.44 |
+1.62% |
+24.58% |
| Gold & Silver |
$XAU |
159.84 |
+0.84 |
+0.53% |
+27.17% |
| Bank |
$BKX |
121.91 |
+1.66 |
+1.38% |
+26.96% |
| Biotech |
$BTK |
6,072.42 |
+98.09 |
+1.64% |
+12.06% |
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Found Support at 50-Day Moving Average Line Before Earnings Report
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Howmet Aerospace Inc (HWM +$2.32 or +2.32% to $102.16) posted a gain today with +17% above average volume. It is due to report Sep '24 quarterly results before the open tomorrow (11/06/24). Volume and volatility often increase near earnings news. It has been finding support while consolidating near its 50-day moving average (DMA) ($99.39) and above prior highs in the $98 area which defined important near-term support to watch. More damaging losses would raise concerns and trigger a technical sell signal.
The number of top-rated funds owning its shares rose from 1,609 in Sep '23 to 1,856 in Sep '24, a reassuring sign concerning the I criteria. HWM was highlighted in yellow with pivot point cited based on its 5/28/24 high plus 10 cents in the 7/30/24 mid-day report. It was last shown in this FSU section on 9/30/24 under the headline "Gain With Light Volume for Best-Ever Close".
It has a 93 Earnings Per Share Rating, well above the 80+ minimum for buy candidates. Quarterly comparisons through Jun '24 showed earnings increases above the +25% minimum guideline (C criteria) versus the year-ago period. Annual earnings (A criteria) history has improved after a downturn in FY '19-20.
 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 | $121.34 | +10.78
9.75% | $121.78 | 111,722
180.20% of 50 DAV
50 DAV is 62,000 | $114.75
5.74%
| 9/17/2024 | $71.26 | PP = $87.23 | | MB = $91.59 |  Most Recent Note - 11/5/2024 5:07:18 PM
G - Powered to a new all-time high with a big gain today backed by above-average volume, its 8th gain in the span of 9 sessions. Its 50 DMA line ($94) defines important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Above Prior Highs Near All-Time High - 10/7/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | GVA - NYSE
Granite Construction
Bldg-Heavy Construction | $91.35 | +3.53
4.02% | $91.60 | 818,374
122.15% of 50 DAV
50 DAV is 670,000 | $89.11
2.51%
| 6/11/2024 | $59.76 | PP = $64.33 | | MB = $67.55 | Most Recent Note - 11/5/2024 5:03:36 PM
G - Powered to another new all-time high with today''s 4th consecutive gain. Bullish action has come after it reported Sep '24 quarterly earnings +19% on +14% sales revenues versus the year-ago period, below the +25% minimum guideline (C criteria) of the fact-based investment system..
>>> FEATURED STOCK ARTICLE : Hovering Near All-Time High - 10/1/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | TXRH - NASDAQ
Texas Roadhouse
Retail-Restaurants | $189.17 | +3.76
2.03% | $189.41 | 604,050
84.25% of 50 DAV
50 DAV is 717,000 | $196.29
-3.63%
| 7/26/2024 | $173.08 | PP = $175.82 | | MB = $184.61 | Most Recent Note - 11/5/2024 5:05:29 PM
G - Posted a gain today with lighter volume after a pullback of 3 straight losses from its all-time high. Prior highs in the $177-180 area define initial support to watch above its 50 DMA line ($175.42) on pullbacks.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for New High Close - 10/18/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | HWM - NYSE
Howmet Aerospace
Aerospace/Defense | $102.16 | +2.32
2.32% | $102.16 | 2,549,335
114.68% of 50 DAV
50 DAV is 2,223,000 | $106.93
-4.46%
| 7/30/2024 | $93.95 | PP = $85.52 | | MB = $89.80 | Most Recent Note - 11/5/2024 5:01:38 PM
G - Found support with a gain today backed by higher volume while consolidating near its 50 DMA line and above prior highs in the $98 area. Keep in mind it is due to report Sep ''24 quarterly results before the open on Wednesday 11/06/24. Volume and volatility often increase near earnings news. More damaging losses would raise concerns and trigger a technical sell signal. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Found Support at 50-Day Moving Average Line Before Earnings Report - 11/5/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | MELI - NASDAQ
MercadoLibre
Retail-Internet | $2,090.01 | +26.31
1.27% | $2,094.92 | 282,587
102.39% of 50 DAV
50 DAV is 276,000 | $2,161.73
-3.32%
| 8/5/2024 | $1,793.73 | PP = $1,792.15 | | MB = $1,881.76 | Most Recent Note - 11/4/2024 1:32:42 PM
G - Posting a 3rd consecutive gain today, finding support near its 50 DMA line ($2,050). 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 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note 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 | $30.57 | +3.12
11.37% | $30.81 | 155,474
189.60% of 50 DAV
50 DAV is 82,000 | $30.32
0.82%
| 11/5/2024 | $30.57 | PP = $30.42 | | MB = $31.94 | Most Recent Note - 11/5/2024 5:10:53 PM
Y - Color code is changed to yellow with new pivot point cited based on its 9/18/24 high plus 10 cents. Powered to a new all-time high with today''s considerable volume-driven gain triggering a new (or add-on) technical buy signal. Rallied abruptly from its 50 DMA line ($27.29) which acted as support.
>>> FEATURED STOCK ARTICLE : Near 50-Day Moving Average After Volume-Driven Losses - 10/4/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | CLS - NYSE
Celestica
Elec-Contract Mfg | $75.63 | +3.31
4.58% | $76.28 | 2,842,081
130.55% of 50 DAV
50 DAV is 2,177,000 | $73.18
3.35%
| 10/11/2024 | $57.62 | PP = $63.59 | | MB = $66.77 | Most Recent Note - 11/5/2024 5:11:57 PM
G - Hit yet another new all-time high with today''s 3rd consecutive gain backed by +31% above-average volume. 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 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | PAY - NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr | $24.88 | +0.61
2.51% | $24.92 | 128,605
61.83% of 50 DAV
50 DAV is 208,000 | $27.06
-8.06%
| 10/17/2024 | $26.15 | PP = $25.31 | | MB = $26.58 | Most Recent Note - 11/4/2024 1:34:22 PM
Y - Volume totals have been cooling while consolidating. 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 | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | RMD - NYSE
ResMed
Medical-Products | $245.74 | +2.13
0.87% | $246.51 | 950,120
88.55% of 50 DAV
50 DAV is 1,073,000 | $260.49
-5.66%
| 10/25/2024 | $256.64 | PP = $255.28 | | MB = $268.04 | Most Recent Note - 11/4/2024 1:36:36 PM
Y - Consolidating above its 50 DMA line ($242.63) which defines important near-term support to watch. Damaging losses quickly negated the recent breakout.
>>> FEATURED STOCK ARTICLE : ResMed Negated Friday''s Breakout Raising Concerns - 10/28/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A S I | ATGE - NYSE
Adtalem Global Education
Consumer Svcs-Education | $81.28 | +0.69
0.86% | $82.09 | 311,847
86.38% of 50 DAV
50 DAV is 361,000 | $85.26
-4.67%
| 10/30/2024 | $83.34 | PP = $80.28 | | MB = $84.29 | Most Recent Note - 11/4/2024 5:11:05 PM
Y - Holding its ground above prior highs. It was highlighted in yellow in the 10/30/24 mid-day report with pivot point citer based upon its 7/23/24 high plus 10 cents. It hit new 52-week and all-time highs with a big volume-driven gain triggering a technical buy signal. Bullish action came after it 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. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Holding Ground Following Recent Technical Breakout - 11/4/2024 | View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note 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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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***
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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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