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AFTER MARKET UPDATE - FRIDAY, NOVEMBER 9TH, 2018
Previous After Market Report Next After Market Report >>>
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DOW |
-201.92 |
25,989.30 |
-0.77% |
|
Volume |
934,350,800 |
+13% |
|
Volume |
2,411,264,410 |
-1% |
|
NASDAQ |
-123.98 |
7,406.90 |
-1.65% |
|
Advancers |
960 |
32% |
|
Advancers |
777 |
25% |
|
S&P 500 |
-25.82 |
2,781.01 |
-0.92% |
|
Decliners |
2,009 |
68% |
|
Decliners |
2,294 |
75% |
|
Russell 2000 |
-28.72 |
1,549.49 |
-1.82% |
|
52 Wk Highs |
60 |
|
|
52 Wk Highs |
42 |
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S&P 600 |
-16.88 |
972.65 |
-1.71% |
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52 Wk Lows |
109 |
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52 Wk Lows |
129 |
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Stocks Fell Friday as New Rally Sputtered
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
For the week, the Dow gained 2.8%, the S&P 500 added 2.1%, and the Nasdaq rose 0.7%. Stocks finished lower on Friday. The Dow was off 201 points to 25,989 while the S&P 500 lost 25 points to 2,781. The Nasdaq Composite fell 123 points to 7,406. The volume totals reported were mixed, higher on the NYSE and slightly lower on the Nasdaq exchange versus the prior session. Decliners led advancers by 2-1 margin on the NYSE and 3-1 on the Nasdaq exchange. There were 51 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 51 on the prior session. New 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. Technically, the bullish action marked a shift in the market direction (M criteria), ending the latest correction, and moving back to a confirmed uptrend under the fact-based investment system. The Featured Stocks Page provides the most timely analysis on high-ranked leaders. Charts used courtesy of www.stockcharts.com
PICTURED: The S&P 500 Index pulled back on Friday and it has met resistance at its 50 -day moving average (DMA) line. It and the other major indices posted gains of greater than +2% on Wednesday (Day 7) with higher volume on the exchanges coupled with a greater number of stocks hitting new 52-week highs. The solid follow-through day was noted as a reassuring sign, however, new buying efforts are only justified in stocks meeting all of the fundamental and technical criteria of the fact-based investment system.
U.S. equities declined as oil benchmarks capped their longest losing streak in over three decades. WTI crude finished 1.2% lower to $60.04/barrel, notching its tenth-straight daily decline amid rising global output. Attention will now shift to a meeting of OPEC nations and Russia over the weekend, which could lead to a production decrease.
Eight of 11 S&P 500 sectors finished in negative territory with only the defensive Consumer Staples, Real Estate, and Utilities stocks bucking the downtrend. Tech stocks led the losses with the group shedding 1.7% on the session. In earnings, Disney (DIS +1.72%) rose after topping analyst profit projections on strength in its theme park and movie divisions. Activision (ATVI -12.39%) and Yelp (YELP -26.60%) fell after both companies released disappointing results.
On the data front, a survey revealed the producer price index jumped 0.6% in October, the largest monthly increase since 2012. Treasuries finished higher with the yield on the 10-year note down five basis points to 3.19%. Strength in the U.S. dollar sent gold to the lowest point in a month, finishing 1.3% lower at $1,209.20/ounce on the COMEX. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Financial, Tech, and Commodity-Linked Groups Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -1.80%), Broker/Dealer Index ($XBD -1.55%), and Bank Index ($BKX -0.66%) each fell on Friday. The tech sector had a negative bias as the Semiconductor Index ($SOX -1.85%) and Biotech Index ($BTK -2,81%) fell while the Networking Index ($NWX +0.24%) eked out a small gain. The Gold & Silver Index ($XAU -1.88%), Oil Services Index ($OSX -1.09%), and Integrated Oil Index ($XOI -0.18%) ended lower.
Charts courtesy of www.stockcharts.com PICTURED: The Bank Index ($BKX -0.66%) is still sputtering below its 200-day and 50-day moving average (DMA) lines.
| Oil Services |
$OSX |
118.72 |
-1.32 |
-1.10% |
-20.62% |
| Integrated Oil |
$XOI |
1,365.18 |
-2.44 |
-0.18% |
+2.22% |
| Semiconductor |
$SOX |
1,229.05 |
-23.18 |
-1.85% |
-1.92% |
| Networking |
$NWX |
526.89 |
+1.28 |
+0.24% |
+7.41% |
| Broker/Dealer |
$XBD |
268.79 |
-4.23 |
-1.55% |
+1.34% |
| Retail |
$RLX |
2,204.80 |
-40.44 |
-1.80% |
+27.17% |
| Gold & Silver |
$XAU |
64.16 |
-1.23 |
-1.88% |
-24.76% |
| Bank |
$BKX |
101.18 |
-0.67 |
-0.66% |
-5.18% |
| Biotech |
$BTK |
4,686.12 |
-135.42 |
-2.81% |
+10.99% |
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Volume Driven Gains Indicate Institutional Buying Demand
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Ulta Beauty Inc (ULTA +$3.63 or +1.19% to $308.12) finished strong after highlighted in yellow with pivot point cited based on its 9/11/18 high plus 10 cents in the 11/07/18 mid-day report (read here). The gain and close above the pivot point backed by +79% above average volume clinched a technical buy signal. It hit another new 52-week high today, and very little overhead supply remains to act as resistance up to the $314 level.
Fundamentals remain strong as earnings increases were above the +25% minimum guideline (C criteria) in 3 of the past 4 quarterly comparisons through Jul '18 versus the year ago periods. Its solid annual earnings (A criteria) history is very reassuring. ULTA was last shown in this FSU section on 6/21/17 under the headline, "Violation of 50-Day Moving Average and Slumping Relative Strength". It went through a deep consolidation since dropped from the Featured Stocks list on 6/29/17.
It still has a small supply (S criteria) of only 59.8 million shares outstanding. The number of top-rated funds with an ownership interest has grown from 566 funds in Jun '14 to 1,477 funds as of Sep '18, which is a very encouraging sign of increasing institutional interest (the I criteria). |
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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 |
MPX
-
NYSE
Marine Products Corp
AUTOMOTIVE - Recreational Vehicles
|
$21.04
|
-1.13
-5.10% |
$22.11
|
40,309
95.97% of 50 DAV
50 DAV is 42,000
|
$24.82
-15.23%
|
10/24/2018
|
$23.00
|
PP = $24.92
|
|
MB = $26.17
|
Most Recent Note - 11/9/2018 5:55:32 PM
G - Color code is changed to green after pulling back below its 50 DMA line ($21.89). Very little resistance remains due to overhead supply up to the $24 level. A rebound above the 50 DMA line and subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Weak Finish Amid Widely Negative Market Environment - 10/24/2018 |
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C
A
S
I |
GMED
-
NYSE
Globus Medical Inc Cl A
CHEMICALS - Specialty Chemicals
|
$51.86
|
-5.58
-9.71% |
$55.96
|
1,733,944
247.00% of 50 DAV
50 DAV is 702,000
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$57.83
-10.32%
|
9/26/2018
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$56.11
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PP = $57.65
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|
MB = $60.53
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Most Recent Note - 11/9/2018 1:13:41 PM
G - Reported earnings +30% on +12% sales revenues for the Sep '18 quarter. Gapped down and abruptly retreated below its 50 and 200 DMA lines with today's big loss triggering a technical sell signal and its color code is changed to green. Disciplined investors note it did not trigger a technical buy signal after previously noted - "Volume and volatility often increase near earnings news. Its 50 DMA line ($53.26) and 200 DMA line ($51.52) define near-term support. Subsequent gains above the pivot point backed by more than +40% above average volume are needed to trigger a proper technical buy signal."
>>> FEATURED STOCK ARTICLE : Consolidating -5.2% Off 52-Week High Ahead of Earnings News - 11/5/2018 |
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C
A
S
I |
ZBRA
-
NASDAQ
Zebra Tech Corp Cl A
COMPUTER HARDWARE - Computer Peripherals
|
$181.50
|
-0.98
-0.54% |
$183.35
|
421,109
97.93% of 50 DAV
50 DAV is 430,000
|
$184.75
-1.76%
|
11/6/2018
|
$170.41
|
PP = $179.57
|
|
MB = $188.55
|
Most Recent Note - 11/8/2018 5:27:25 PM
Y - Posted a 3rd consecutive volume-driven gain clinching a convincing technical buy signal as it rallied and closed above the pivot point. Volume and volatility often increase near earnings news. Reported Sep '18 earnings +54% on +17% sales revenues, continuing its strong earnings track record. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Hit New High Following Another Strong Earnings Increase - 11/6/2018 |
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C
A
S
I |
CME
-
NASDAQ
C M E Group Inc
DIVERSIFIED SERVICES - Business/Management Services
|
$189.74
|
+0.31
0.16% |
$190.43
|
2,175,493
125.53% of 50 DAV
50 DAV is 1,733,000
|
$189.81
-0.03%
|
10/4/2018
|
$179.29
|
PP = $177.45
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|
MB = $186.32
|
Most Recent Note - 11/7/2018 5:15:40 PM
G - Hit yet another new all-time high and rose further above its "max buy" level with above average volume behind today's 9th consecutive small gain. Found support above its 50 DMA line ($177) after recently reporting earnings +22% on +2% sales revenues for the Sep '18 quarter, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. The 50 DMA line and prior low ($170.04 on 9/28/18) define important near-term support.
>>> FEATURED STOCK ARTICLE : Perched Near High After Latest Earnings Report Below +25% Minimum - 10/26/2018 |
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C
A
S
I |
GDOT
-
NYSE
Green Dot Corp Cl A
FINANCIAL SERVICES - Credit Services
|
$85.93
|
-6.91
-7.44% |
$92.87
|
768,045
192.01% of 50 DAV
50 DAV is 400,000
|
$93.00
-7.60%
|
11/8/2018
|
$90.35
|
PP = $91.61
|
|
MB = $96.19
|
Most Recent Note - 11/9/2018 1:07:13 PM
Y - Abruptly reversing into the prior base with today's big loss. Finished strong after highlighted in yellow with pivot point cited based on its 9/14/18 high plus 10 cents in the 11/08/18 mid-day report. The big gain and strong close above the pivot point backed by +213% above average volume clinched a technical buy signal as it hit a new all-time high. Rallied straight up from the bottom of an 8-week base during which its 200 DMA line acted as support. Reported earnings +74% on +14% sales revenues for the Sep '18 quarter. Recent quarterly comparisons show strong earnings increases with strong sales revenues growth. Its small supply of only 52.6 million outstanding shares (S criteria) can contribute to greater price volatility in the event of institutional buying or selling. Annual earnings (A criteria) history has been strong after a small downturn in FY '15. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind Rally to New High - 11/8/2018 |
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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 |
HZO
-
NYSE
Marinemax Inc
SPECIALTY RETAIL - Specialty Retail, Other
|
$24.46
|
-0.54
-2.16% |
$25.00
|
229,678
70.02% of 50 DAV
50 DAV is 328,000
|
$26.11
-6.32%
|
11/2/2018
|
$25.10
|
PP = $25.15
|
|
MB = $26.41
|
Most Recent Note - 11/7/2018 1:12:04 PM
Y - Abruptly retreated from its 52-week high and slumped back into the prior base raising concerns with today's big loss after an impressive streak of 7 consecutive volume-driven gains. Highlighted in yellow with pivot point cited based on its 6/07/18 high plus 10 cents in the 11/02/18 mid-day report. New buying efforts are discouraged until a convincing follow-through day confirms a new market rally (M criteria). Reported Sep '18 earnings +105% on +23% sales revenues, its 4th consecutive quarter with a big earnings increase versus the year ago period. Sales revenues growth has shown encouraging acceleration in sequential quarterly comparisons versus the year ago periods. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Boat Retailer Has Strong Earnings History - 11/2/2018 |
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C
A
S
I |
ULTA
-
NASDAQ
Ulta Beauty Inc
SPECIALTY RETAIL - Specialty Retail, Other
|
$308.12
|
+3.63
1.19% |
$312.20
|
1,521,679
139.35% of 50 DAV
50 DAV is 1,092,000
|
$308.88
-0.25%
|
11/8/2018
|
$296.36
|
PP = $290.40
|
|
MB = $304.92
|
Most Recent Note - 11/9/2018 5:52:26 PM
Y - Posted another solid gain today with above average volume. Finished strong after highlighted in yellow with pivot point cited based on its 9/11/18 high plus 10 cents in the prior mid-day report. The gain and close above the pivot point backed by +79% above average volume clinched a technical buy signal. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Volume Driven Gains Indicate Institutional Buying Demand - 11/9/2018 |
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C
A
S
I |
UBNT
-
NASDAQ
Ubiquiti Networks Inc
TELECOMMUNICATIONS - Diversified Communication Serv
|
$111.13
|
+16.59
17.55% |
$112.38
|
2,030,070
422.05% of 50 DAV
50 DAV is 481,000
|
$101.33
9.67%
|
11/9/2018
|
$108.20
|
PP = $101.43
|
|
MB = $106.50
|
Most Recent Note - 11/9/2018 1:42:48 PM
Y - Color code is changed to yellow with new pivot point cited based on its 9/25/18 high plus 10 cents. Gapped up today hitting a new all-time high with heavy volume behind its 4th consecutive gain. Reported earnings +27% on +15% sales revenues for the Sep '18 quarter, marking its 3rd consecutive quarterly comparison above the +25% minimum earnings guideline (C criteria), helping it better match the fact-based investment system's fundamental guidelines. After a small downturn in FY '15 its annual earnings (A criteria) growth has been strong.
>>> FEATURED STOCK ARTICLE : Formed a New Ascending Base But Did Not Confirm New Buy Signal - 4/20/2012 |
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C
A
S
I |
DPZ
-
NYSE
Dominos Pizza Inc
Retail-Restaurants
|
$274.35
|
+1.20
0.44% |
$274.95
|
402,411
68.44% of 50 DAV
50 DAV is 588,000
|
$305.34
-10.15%
|
8/13/2018
|
$288.60
|
PP = $293.91
|
|
MB = $308.61
|
Most Recent Note - 11/8/2018 5:18:04 PM
G - Volume totals have been below average while rebounding toward its 50 DMA line ($278). A rebound above the 50 DMA line is needed for its outlook to improve. The prior low ($253.63 on 7/31/18) and 200 DMA line define important near-term support to watch. Reported earnings +54% on +22% sales revenues for the Sep '18 quarter, continuing its strong earnings track record.
>>> FEATURED STOCK ARTICLE : Found Support at 200-Day Moving Average Line - 10/31/2018 |
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C
A
S
I |
FIVE
-
NASDAQ
Five Below Inc
Retail-DiscountandVariety
|
$121.70
|
-1.66
-1.35% |
$124.98
|
665,931
66.39% of 50 DAV
50 DAV is 1,003,000
|
$136.13
-10.60%
|
7/6/2018
|
$98.90
|
PP = $104.09
|
|
MB = $109.29
|
Most Recent Note - 11/8/2018 5:20:43 PM
G - Posted a solid gain today backed by +25% above average volume while rebounding further above its 50 DMA line ($121). Still faces resistance due to overhead supply up to the $136 level. Recently found support near the prior high ($109.09 on 7/19/18), but more damaging losses would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Sputtering Below 50-Day Moving Average Near Prior High - 10/25/2018 |
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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 |
HQY
-
NASDAQ
Healthequity Inc
COMPUTER SOFTWARE and SERVICES - Healthcare Information Service
|
$97.03
|
-1.77
-1.79% |
$100.97
|
605,827
66.57% of 50 DAV
50 DAV is 910,000
|
$101.58
-4.48%
|
11/2/2018
|
$95.56
|
PP = $100.09
|
|
MB = $105.09
|
Most Recent Note - 11/7/2018 5:12:37 PM
Y - Hit a new all-time high with today's big gain backed by +20% above average volume. Color code was recently changed to yellow with new pivot point cited based on its 9/14/18 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may clinch a convincing new (or add on) technical buy signal.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Average Helped Outlook Improve - 11/1/2018 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$91.28
|
-1.47
-1.58% |
$93.16
|
503,198
72.82% of 50 DAV
50 DAV is 691,000
|
$97.61
-6.48%
|
11/8/2018
|
$92.75
|
PP = $97.71
|
|
MB = $102.60
|
Most Recent Note - 11/8/2018 5:24:29 PM
Y - Posted a 3rd consecutive gain today and it has been finding support near its 50 DMA line ($90.79). Color code is changed to yellow and a new pivot point is cited based on its 10/01/18 high plus 10 cents. Subsequent volume-driven gains above the pivot point may trigger a new (or add-on) technical buy signal. The recent low ($84.66 on 10/11/18) defines the next important support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Finding Support Near its 50-Day Moving Average - 10/30/2018 |
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C
A
S
I |
PLNT
-
NYSE
Planet Fitness Inc Cl A
Leisure-Services
|
$54.99
|
-1.62
-2.86% |
$56.64
|
964,721
79.79% of 50 DAV
50 DAV is 1,209,000
|
$57.66
-4.63%
|
11/7/2018
|
$57.10
|
PP = $55.45
|
|
MB = $58.22
|
Most Recent Note - 11/9/2018 6:01:58 PM
Y - Pulled back today with lighter volume following 3 consecutive volume-driven gains. Prior highs in the $53-55 area and its 50 DMA line define important near term support. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Big Gain for New High With Nearly 4 Times Average Volume - 11/7/2018 |
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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,
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are the property of their respective owners, and are
likewise used for identification purposes only.
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