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AFTER MARKET UPDATE - WEDNESDAY, NOVEMBER 16TH, 2022
Previous After Market Report Next After Market Report >>>
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DOW |
-39.09 |
33,553.83 |
-0.12% |
|
Volume |
867,113,159 |
-16% |
|
Volume |
4,538,236,900 |
-19% |
|
NASDAQ |
-174.75 |
11,183.66 |
-1.54% |
|
Advancers |
1,065 |
35% |
|
Advancers |
1,464 |
32% |
|
S&P 500 |
-32.94 |
3,958.79 |
-0.83% |
|
Decliners |
1,979 |
65% |
|
Decliners |
3,136 |
68% |
|
Russell 2000 |
-36.04 |
1,853.17 |
-1.91% |
|
52 Wk Highs |
53 |
|
|
52 Wk Highs |
70 |
|
|
S&P 600 |
-20.60 |
1,214.43 |
-1.67% |
|
52 Wk Lows |
55 |
|
|
52 Wk Lows |
166 |
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Major Indices Edged Lower With Lighter Volume Totals
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow shed 39 points, while the Nasdaq Composite fell 1.5%. The S&P 500 slid 0.8%. The volume totals reported were lighter than the prior session totals on the NYSE and on the Nasdaq exchange, revealing less pressure from institutional selling. Breadth was negative as decliners led advancers by almost a 2-1 margin on the NYSE and more than 2-1 on the Nasdaq exchange. There were 27 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 52 on the prior session. New 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. The market is in a confirmed uptrend (M criteria). Healthy leadership (new 52-week highs totals) has continued to help the rally 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 S&P 500 Index fell on Wednesday with lighter volume. It has been approaching its 200-day moving average (DMA) line which acted as resistance in August. Of the 3 major indices only the Dow is in "healthy shape" above its 200 DMA line.
UU.S. equities finished lower in choppy trading Wednesday as investors digested retail sales data and the latest round of commentary from Federal Reserve (Fed) officials. New York Fed President John Williams reaffirmed the central bank’s commitment to continue tightening monetary policy despite the risk of an economic slowdown. San Francisco Fed President Mary Daly was similarly hawkish after stating a pause in rate hikes is “off the table”. Meanwhile, Fed Governor Christopher Waller said he would be comfortable with easing the pace of increases so long as the incoming data supports it. The flurry of comments quelled optimism over a potential Fed pivot and sent the major averages lower.
On the data front, retail sales saw their largest increase in eight months in October, indicating consumer resilience despite high inflation. The stronger-than-expected data implied the economy can withstand more Fed rate hikes. Elsewhere, import prices notched a 0.2% monthly decline, while export prices fell 0.3% month-over-month in October.
Treasuries were mixed, with the yield on the 10-year note down eight basis points (0.08%) to 3.68%, while the 30-year bond yield shed 12 basis points (0.12%) to 3.83%. The two-year note yield climbed two basis points (0.02%) to 4.36%. In commodities, West Texas Intermediate (WTI) crude fell 1.9% to $85.31/barrel amid continued concerns over global demand. Also weighing on prices were reports Russian oil shipments to Europe via the Druzhba pipeline resumed after shutting down due to technical problems. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial, Semiconductor, and Energy-Linked Groups Led Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -2.27%), Bank Index ($BKX -1.41%), and Retail Index ($RLX -1.13%) each lost ground and weighed on the major averages. The Semiconductor Index ($SOX -4.26%) led the tech sector lower while the Networking Index ($NWX -2.08%) and Biotech Index ($BTK -0.80%) suffered smaller losses. The Oil Services Index ($OSX -2.45%) and Integrated Oil Index ($XOI -2.22%) both fell while the Gold & Silver Index ($XAU -0.91%) suffered a smaller loss. PICTURED: The Oil Services Index ($OSX -2.45%) pulled back today. It has been hovering below prior 2022 highs.
| Oil Services |
$OSX |
85.77 |
-2.16 |
-2.45% |
+62.70% |
| Integrated Oil |
$XOI |
1,895.91 |
-43.07 |
-2.22% |
+60.92% |
| Semiconductor |
$SOX |
2,690.81 |
-119.80 |
-4.26% |
-31.81% |
| Networking |
$NWX |
790.56 |
-16.79 |
-2.08% |
-18.59% |
| Broker/Dealer |
$XBD |
469.32 |
-10.90 |
-2.27% |
-3.60% |
| Retail |
$RLX |
2,951.88 |
-33.84 |
-1.13% |
-30.16% |
| Gold & Silver |
$XAU |
114.89 |
-1.06 |
-0.91% |
-13.26% |
| Bank |
$BKX |
106.35 |
-1.53 |
-1.41% |
-19.56% |
| Biotech |
$BTK |
5,174.18 |
-41.67 |
-0.80% |
-6.24% |
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Made Little Progress Following Breakout and Latest Earnings News
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Vertex Pharmaceuticals (VRTX +$0.16 or +0.05% to $305.44) recently showed resilience after briefly undercutting its 50-day moving average (DMA) line ($297). That important moving average defines near-term support above recent intra-day lows in the $287-288 area.
VRTX was highlighted in yellow in the 10/24/22 mid-day report (read here) with pivot point cited based on its 8/15/22 high plus 10 cents. That evening it was covered in this FSU section in greater detail with an annotated graph under the headline, "Volume-Driven Gain Triggered Technical Buy Signal".
VRTX currently has a 98 Earnings Per Share Rating. It fell from 99 recently after it reported Sep '22 quarterly earnings +14% on +18% sales revenues versus the year ago period, below the +25% minimum earnings guideline, raising fundamental concerns (C criteria). Annual earnings (A criteria) history has been strong.
It hails from the Medical-Biomed/Biotech industry which is currently ranked 14th on the 197 Industry Groups list It has 256.7 million shares outstanding (S criteria). The number of top-rated funds owning its shares rose from 2,722 in Dec '21 to 3,257 in Sep '22, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.4 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a Timeliness Rating of A ad Sponsorship Rating of B. |
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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
-
NYSE
Cigna Corp
Medical-Managed Care
|
$306.69
|
+1.52
0.50% |
$309.41
|
1,370,063
65.40% of 50 DAV
50 DAV is 2,095,000
|
$325.16
-5.68%
|
7/7/2022
|
$276.55
|
PP = $273.68
|
|
MB = $287.36
|
Most Recent Note - 11/16/2022 3:11:07 PM
Consolidating above its 50 DMA line ($299) after a big volume-driven loss was noted on 11/11/22 triggering a technical sell signal. Reported Sep '22 quarterly earnings +5% on +2% sales revenues versus the year ago period, its 2nd sub par quarterly comparison. It will be dropped from the Featured Stocks list tonight.
>>> 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
|
$44.85
|
-0.15
-0.33% |
$45.50
|
13,796
47.57% of 50 DAV
50 DAV is 29,000
|
$45.66
-1.77%
|
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 - 11/15/2022 2:36:52 PM
G - Posting a gain today with below average volume. Prior highs in the $41 area define initial support to watch above its 50 DMA line ($40.31).
>>> 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
|
$33.79
|
+0.60
1.81% |
$34.08
|
541,860
58.01% of 50 DAV
50 DAV is 934,000
|
$38.68
-12.64%
|
9/9/2022
|
$27.32
|
PP = $30.61
|
|
MB = $32.14
|
Most Recent Note - 11/16/2022 3:29:12 PM
Y - On track today for a 3rd consecutive gain after a prompt rebound above the 50 DMA line ($31.98) helped its outlook improve. Prior highs in the $30.50 area define important near-term support to watch where more damaging losses would trigger a technical sell signal. Reported Sep '22 quarterly earnings +75% on +70% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Consolidating Above Prior Highs and Above 50-Day Moving Average - 11/8/2022 |
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C
A
S
I |
CMC
-
NYSE
Commercial Metals Co
METALS and MINING - Steel and Iron
|
$47.24
|
+0.08
0.17% |
$47.41
|
758,829
70.00% of 50 DAV
50 DAV is 1,084,000
|
$47.93
-1.44%
|
10/14/2022
|
$41.61
|
PP = $44.45
|
|
MB = $46.67
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Most Recent Note - 11/14/2022 6:12:30 PM
G - Posted a gain today and its color code is changed to green after rising back above its "max buy" level. Fundamentals remain strong. Prior high in the $44 area defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Steel/Metal Products Firm Quietly Perched Near All Time High - 11/7/2022 |
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C
A
S
I |
VRTX
-
NASDAQ
Vertex Pharmaceuticals
Medical-Biomed/Biotech
|
$305.44
|
+0.16
0.05% |
$308.75
|
874,259
59.07% of 50 DAV
50 DAV is 1,480,000
|
$316.48
-3.49%
|
10/24/2022
|
$308.47
|
PP = $306.05
|
|
MB = $321.35
|
Most Recent Note - 11/16/2022 5:31:51 PM
Y - Consolidating above its 50 DMA line ($297) which defines near-term support above recent intra-day lows in the $287-288 area. Recently reported Sep '22 quarterly earnings +14% on +18% sales revenues versus the year ago period, below the +25% minimum earnings guideline raising fundamental concerns (C criteria). Annual earnings (A criteria) history has been strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Made Little Progress Following Breakout and Latest Earnings News - 11/16/2022 |
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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 |
GPK
-
NYSE
Graphic Packaging Hldg
CONSUMER NON-DURABLES - Packaging and Containers
|
$22.46
|
+0.20
0.90% |
$22.54
|
2,166,135
71.96% of 50 DAV
50 DAV is 3,010,000
|
$24.07
-6.69%
|
10/25/2022
|
$22.75
|
PP = $24.17
|
|
MB = $25.38
|
Most Recent Note - 11/16/2022 3:22:53 PM
Y - Recently testing support near its 50 DMA line ($21.61). More damaging losses would raise concerns and trigger a technical sell signal. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Fundamentals remain strong.
>>> 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
|
$47.82
|
-0.05
-0.10% |
$48.27
|
168,826
61.62% of 50 DAV
50 DAV is 274,000
|
$50.57
-5.44%
|
10/26/2022
|
$47.83
|
PP = $48.57
|
|
MB = $51.00
|
Most Recent Note - 11/16/2022 3:20:59 PM
Y - Volume totals have been cooling while consolidating just below its pivot point. Its 50 DMA line ($45.69) and recent low define important near-term support. Recently reported Sep '22 quarterly earnings +24% on +28% sales revenues versus the year ago period.
>>> 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
|
$305.18
|
+4.45
1.48% |
$312.79
|
3,424,965
83.17% of 50 DAV
50 DAV is 4,118,000
|
$324.84
-6.05%
|
10/26/2022
|
$301.55
|
PP = $324.94
|
|
MB = $341.19
|
Most Recent Note - 11/14/2022 12:41:11 PM
Y - Rebounding near recent highs with today's solid gain. Recently challenged its 52-week high and pivot point. Faces little near-term resistance due to overhead supply up to the $324 level. Its 50 DMA line ($283) defines near-term support above the recent low ($262.60 on 11/07/22). Fundamentals remain strong.
>>> 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 Holdings
Medical-Biomed/Biotech
|
$55.64
|
-0.46
-0.82% |
$56.85
|
314,156
58.27% of 50 DAV
50 DAV is 539,100
|
$61.55
-9.60%
|
11/1/2022
|
$55.31
|
PP = $57.23
|
|
MB = $60.09
|
Most Recent Note - 11/15/2022 12:27:43 PM
Y - Gapped up today and hit a new all-time high but reversed into the red, action indicative of distributional pressure. Posted a solid gain on the prior session with +26% above average volume as it closed back above the pivot point. Recently consolidating above prior highs in the $57 area that define initial support to watch.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind Technical Breakout After Earnings - 11/1/2022 |
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C
A
S
I |
CLH
-
NYSE
Clean Harbors Inc
Pollution Control
|
$115.70
|
+3.84
3.43% |
$115.82
|
422,291
92.81% of 50 DAV
50 DAV is 455,000
|
$124.49
-7.06%
|
11/2/2022
|
$121.59
|
PP = $124.59
|
|
MB = $130.82
|
Most Recent Note - 11/16/2022 3:27:42 PM
G - Near its 50 DMA line ($116.02) with today's gain, but a rebound above the 50 DMA line is needed for its outlook to improve. Fundamentals remain strong after reporting Sep '22 quarterly earnings +113% on +43% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Testing 50 Day Moving Average Line After Forming New Base - 11/2/2022 |
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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 |
NPO
-
NYSE
Enpro Industries Inc
Machinery-Gen Industrial
|
$121.11
|
-2.22
-1.80% |
$123.10
|
103,848
105.97% of 50 DAV
50 DAV is 98,000
|
$127.67
-5.14%
|
11/4/2022
|
$119.06
|
PP = $117.73
|
|
MB = $123.62
|
Most Recent Note - 11/16/2022 3:25:57 PM
Y - Color code is changed to yellow while pulling back with below average volume today, undercutting its "max buy" level. 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.
>>> FEATURED STOCK ARTICLE : Finished Strong After Highlighted in Friday Mid-Day Report - 11/4/2022 |
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C
A
S
I |
DGII
-
NASDAQ
Digi International Inc
COMPUTER HARDWARE - Networking and Communication Dev
|
$41.36
|
-0.01
-0.02% |
$41.77
|
238,971
57.03% of 50 DAV
50 DAV is 419,000
|
$41.73
-0.89%
|
11/10/2022
|
$41.82
|
PP = $40.96
|
|
MB = $43.01
|
Most Recent Note - 11/14/2022 6:08:15 PM
Y - Posted a 3rd consecutive gain today with lighter (average) for a best-ever close, wedging above the pivot point cited based on its 10/31/22 high plus 10 cents. Rising from an advanced "ascending base" pattern. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to confirm a proper technical buy signal. Reported Sep '22 quarterly earnings +80% versus the year ago period, its 3rd strong quarterly comparison well above the +25% minimum earnings guideline (C criteria), helping it better match the fact-based investment system's winning models. Annual earnings (A criteria) history has been strong after a downturn in FY '17-18.
>>> FEATURED STOCK ARTICLE : Finish Below Pivot Point Leaves Disciplined Investors Waiting - 11/10/2022 |
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C
A
S
I |
GFF
-
NYSE
Griffon Corporation
MATERIALS and CONSTRUCTION - General Building Materials
|
$33.61
|
-0.70
-2.04% |
$34.36
|
195,304
55.17% of 50 DAV
50 DAV is 354,000
|
$34.92
-3.75%
|
11/10/2022
|
$34.13
|
PP = $35.02
|
|
MB = $36.77
|
Most Recent Note - 11/16/2022 3:24:10 PM
Y - Perched near its 52-week high and pivot point. Due to report Sep '22 quarterly results on 11/16/22. Volume and volatility often increase near earnings news. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Griffon Perched Near 52-Week High After 9-Week Base - 11/11/2022 |
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C
A
S
I |
ANET
-
NYSE
Arista Networks Inc
Computer-Networking
|
$130.69
|
-1.96
-1.48% |
$131.72
|
1,454,714
58.63% of 50 DAV
50 DAV is 2,481,000
|
$148.57
-12.03%
|
11/14/2022
|
$132.05
|
PP = $133.70
|
|
MB = $140.39
|
Most Recent Note - 11/14/2022 5:57:26 PM
Y - Finished in the middle of its intra-day range after highlighted in yellow in the earlier mid-day report with pivot point cited based on its 11/04/22 high after a cup-with-handle base. Subsequent gains and a close above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Perched near its August high with today's volume-driven gain, but it still faces some resistance due to overhead supply up to the $148 level. Reported Sep '22 quarterly earnings +69% on +57% sales revenues versus the year ago period, its 4th quarterly comparison strong and steady above the +25% minimum earnings guideline (C criteria). Annual earnings had a downturn in FY 20 like many during the pandemic. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Finished in Middle of Intra-Day Range After Challenging Pivot Point - 11/14/2022 |
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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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