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AFTER MARKET UPDATE - FRIDAY, NOVEMBER 8TH, 2024
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DOW |
+259.65 |
43,988.99 |
+0.59% |
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Volume |
1,068,690,662 |
-6% |
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Volume |
7,379,975,700 |
-22% |
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NASDAQ |
+17.32 |
19,286.78 |
+0.09% |
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Advancers |
1,697 |
62% |
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Advancers |
2,367 |
56% |
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S&P 500 |
+22.44 |
5,995.54 |
+0.38% |
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Decliners |
1,024 |
38% |
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Decliners |
1,892 |
44% |
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Russell 2000 |
+16.95 |
2,399.64 |
+0.71% |
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52 Wk Highs |
301 |
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52 Wk Highs |
387 |
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S&P 600 |
+8.20 |
1,508.36 |
+0.55% |
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52 Wk Lows |
48 |
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52 Wk Lows |
115 |
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Strong Leadership and Positive Breadth as Major Indices Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Friday the S&P 500 (+0.4%) traded above 6,000 for the first time and the Dow Jones Industrial Average (+0.6%) traded above the 44,000 mark for the first time before settling off session highs. The Nasdaq Composite settled little changed. The volume totals reported were lighter than the prior session totals on the NYSE and on the Nasdaq exchange. Advancers led decliners by an 8-5 margin on the NYSE and by a narrower margin on the Nasdaq exchange. There were 117 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 102 on the prior session. New 52-week highs totals solidly 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 4th consecutive gain for a new all-time high.
The S&P 500 and Nasdaq Composite are 25.7% and 28.5% higher, respectively, in 2024. The Russell 2000 is nearly 20% higher this year following this week's 9.2% surge. Tesla (TSLA +8.2%) shares settled the week nearly +30% higher.
The materials sector logged the largest decline, down -0.9%. Five of the 11 sectors closed at least 1.0% higher. The S&P 500 consumer discretionary sector (+1.2%) posted a solid gain. The rate-sensitive real estate (+1.7%) and utilities sector (+1.8%) both responded favorably to a drop in the 10-yr yield. The 10-yr yield dropped four basis points to 4.31%.
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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, Networking, and Biotech Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.12%) outpaced the Bank Index ($BKX +0.31%), meanwhile the Retail Index ($RLX -0.27%) ended slightly lower. The tech sector was mixed as the Semiconductor Index ($SOX -0.81%) edged lower while the Networking Index ($NWX +0.61%) and the Biotech Index ($BTK +0.44%) both edged higher. The Gold & Silver Index ($XAU -1.59%) and the Oil Services Index ($OSX -1.47%) both lost ground while the Integrated Oil Index ($XOI +0.03%) finished flat.
PICTURED: The Broker/Dealer Index ($XBD +1.12%) posted a gain and is perched near its all-time high.
| Oil Services |
$OSX |
79.37 |
-1.18 |
-1.47% |
-5.37% |
| Integrated Oil |
$XOI |
1,921.26 |
+0.50 |
+0.03% |
+3.16% |
| Semiconductor |
$SOX |
5,290.52 |
-43.47 |
-0.81% |
+26.70% |
| Networking |
$NWX |
1,206.07 |
+7.31 |
+0.61% |
+44.82% |
| Broker/Dealer |
$XBD |
823.26 |
+9.13 |
+1.12% |
+47.72% |
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$RLX |
5,013.14 |
-13.81 |
-0.27% |
+28.91% |
| Gold & Silver |
$XAU |
156.73 |
-2.53 |
-1.59% |
+24.69% |
| Bank |
$BKX |
131.73 |
+0.41 |
+0.31% |
+37.19% |
| Biotech |
$BTK |
6,154.34 |
+26.88 |
+0.44% |
+13.57% |
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Extended From Base After Streak of Gains for New Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Granite Construction (GVA +$2.19 or +2.29% to $97.94) powered to another new all-time high with today's 7th 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. Despite that fact, Granite Construction has a 97 Earnings Per Share Rating. Annual earnings growth has been strong and steady.
GVA was highlighted on the 6/11/24 mid-day report as it was noted that a valid secondary buy point exists up to +5% above the recent high after finding support at its 10 WMA line following a prior breakout. It was last shown in this FSU section on 8/30/24 with an annotated graph under the headline "Hovering Near All-Time High".
GVA hails from the Bldg-Heavy Construction group which is currently ranked 10th on the 197 Industry Groups list (L criteria). It has a small supply of only 43.7 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 401 in Jun '23 to 421 in Sep '24. Its current Up/Down Volume Ratio of 1.9 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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$143.11
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+5.07
3.67% |
$143.56
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159,314
245.10% of 50 DAV
50 DAV is 65,000
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$139.20
2.81%
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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 - 11/6/2024 11:06:16 AM
G - Gapped up today powering to another new all-time high with a big 9th gain in the span of 10 sessions. Its 50 DMA line ($95) defines important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Hovering Above Prior Highs Near All-Time High - 10/7/2024 |
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C
A
S
I |
GVA
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NYSE
Granite Construction
Bldg-Heavy Construction
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$97.94
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+2.19
2.29% |
$98.22
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783,460
113.71% of 50 DAV
50 DAV is 689,000
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$97.25
0.71%
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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 - 11/8/2024 5:15:57 PM
G - Powered to another new all-time high with today's 7th 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. See the latest FSU analysis for moer details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Base After Streak of Gains for New Highs - 11/8/2024 |
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C
A
S
I |
TXRH
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NASDAQ
Texas Roadhouse
Retail-Restaurants
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$197.77
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+1.18
0.60% |
$199.48
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504,594
68.75% of 50 DAV
50 DAV is 734,000
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$201.24
-1.72%
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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 - 11/6/2024 11:16:52 AM
G - Gapped up today hitting a new all-time high. Prior highs in the $177-180 area define initial support to watch above its 50 DMA line ($176) 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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$113.65
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+2.51
2.26% |
$114.08
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2,001,124
85.85% of 50 DAV
50 DAV is 2,331,000
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$115.38
-1.50%
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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 - 11/6/2024 11:12:40 AM
G - Gapped up today hitting a new all-time high. Found support at its 50 DMA line ($99.67) and above prior highs in the $98 area. Reported Sep '24 quarterly earnings +54% on +11% sales revenues versus the year-ago period. Volume and volatility often increase near earnings news. See the latest FSU analysis for more details and an 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 |
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C
A
S
I |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$33.79
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+0.56
1.69% |
$33.80
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102,931
116.97% of 50 DAV
50 DAV is 88,000
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$33.88
-0.27%
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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 - 11/6/2024 11:14:22 AM
Y - Hitting a new all-time high with today's "breakaway gap". Color code was 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 on the prior session with a considerable volume-driven gain triggering a new (or add-on) technical buy signal. Rallied abruptly from its 50 DMA line ($27.43) which acted as support.
>>> FEATURED STOCK ARTICLE : Near 50-Day Moving Average After Volume-Driven Losses - 10/4/2024 |
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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
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NYSE
Celestica
Elec-Contract Mfg
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$85.85
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+0.52
0.61% |
$86.36
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2,170,968
95.60% of 50 DAV
50 DAV is 2,271,000
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$85.67
0.21%
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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 - 11/7/2024 7:20:17 PM
G - Hit yet another new all-time high with today's 5th consecutive gain backed by ever-increasing volume, getting very extended from any sound base. 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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$27.05
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+0.78
2.97% |
$27.14
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242,543
115.50% of 50 DAV
50 DAV is 210,000
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$27.06
-0.04%
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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 - 11/6/2024 11:15:49 AM
Y - Gapped up today. Volume totals have been cooling while consolidating. Found support near prior highs in the $24-25 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
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$252.38
|
+3.84
1.55% |
$255.16
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912,948
86.54% of 50 DAV
50 DAV is 1,055,000
|
$260.49
-3.11%
|
10/25/2024
|
$256.64
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PP = $255.28
|
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MB = $268.04
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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 |
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C
A
S
I |
ATGE
-
NYSE
Adtalem Global Education
Consumer Svcs-Education
|
$91.23
|
+0.86
0.95% |
$92.93
|
571,285
156.09% of 50 DAV
50 DAV is 366,000
|
$90.86
0.41%
|
10/30/2024
|
$83.34
|
PP = $80.28
|
|
MB = $84.29
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Most Recent Note - 11/6/2024 11:08:45 AM
G - Gapped up today hitting a new all-time high above its "max buy" level and its color code is changed to green. Fundamentals remain strong. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Holding Ground Following Recent Technical Breakout - 11/4/2024 |
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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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